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Japan-Update

Japan's JCB to connect multiple blockchains

Congestion can slow down transactions and raise costs

TOKYO -- Japanese credit card company JCB is developing a technology that connects separate blockchains to share their excess capacity, resolving issues that arise from heavy traffic on a single ledger.

The system will be jointly developed with Tokyo-based fintech venture CurrencyPort. The partners will initially create a mechanism that connects about seven to 10 domestic blockchain ledgers.

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