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Economy

Big banks scurry as blockchain technology levels playing field

TOKYO -- The battle to capitalize on blockchain technology is heating up in the mainstream financial sector. Wary of newcomers stealing their thunder, established institutions are giving the system a try.

     Blockchain technology, which underpins the bitcoin cryptocurrency, creates a public record that is shared among users' computers. When a change is made, each computer's copy of the ledger is compared, ensuring accuracy and preventing tampering.

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