Rakuten banks on Belfast’s bitcoin expertise

One of Japan’s leading e-commerce companies is betting on Belfast to develop the blockchain technology that’s been touted as being on the cusp of revolutionising financial services.

Rakuten, an online marketplace similar to Amazon and eBay, has opened a dedicated blockchain lab in the city after completing its takeover of local start-up Bitnet Technologies.

Prior to the acquisition, Rakuten owned a stake in Bitnet after investing in a 2014 investment round.