LINE, LVC & Nomura Forms Capital Alliance Targeting Blockchain Tech January 30, 2019 January 30, 2019 Kelly Cromley http://1AZFjzw2#Nwf63pYaMWq#xIY
Market NewsJanuary 30, 2019 by Kelly Cromley

LINE, LVC & Nomura Forms Capital Alliance Targeting Blockchain Tech

LINE Corporation, Nomura Holdings Inc (TYO:8604) and LVC Corporation, another LINE group company have signed a memorandum of understanding (MOU) to start discussions on establishing a financial business alliance centered on blockchain technology.

In particular, the three parties will look at the option of establishing a capital alliance in which LVC will add funds in the form of third-party allocation of fresh shares to Nomura.

The joint venture will become a reality only after a thorough assessment of the impact of the alliance, approval by appropriate authorities, an agreement defining the terms of operation and execution of several subcontracts that define the nature of the Alliance. All parties involved in the deal expect to sign the final agreement by the end of March 2019.

The three parties decided to ink a MoU based on their aim to involve in opportunities related to blockchain by capitalizing on LINE’s massive customer base and its safe and simple UI/UX, and gain from established financial business strategy of Nomura.

The partnership is expected to have a considerable impact on the earnings of LINE, Nomura and LVC. Going forward, the companies have also decided to announce any possible material effects immediately.

Many Japanese companies have developed and implemented Blockchain technology. NRI SecureTechnologies, a subsidiary of Nomura Research Institute Ltd (TYO:4307), for example, launched its “Blockchain Security Monitoring Service” in November 2018. The new solution identifies and reports security vulnerabilities in the blockchain technology information systems and services. The initial use will be as a tracking service for smart contracts deployed on Ethereum blockchain.

This service is put into effect by introducing several scanning tools in the “NeoSOC” security log tracking service already offered by NRI. “NeoSOC” tracks the actions of targeted smart contracts and tells the company list of new vulnerabilities that are recognized by using this service. The company receiving such a warning can prevent an attack by blocking the use of the corresponding systems and programs.

AuthorKelly Cromley

Kelly is our in house crytpto researcher, delving into the stories which matter from blockchains being used in the real world to new ico coming out.