The Japanese company announced today that the new research centre in Ireland will facilitate the study of the blockchain technology and its potential applications in fintech and e-commerce sectors.

As reported on their website, the event is scheduled for 22 August 2016. The laboratory is their next step after the acquisition from Bitnet Technologies Ltd of intellectual property rights on a digital payments platform powered by blockchain.

The laboratory will be part of Rakuten’s Ecosystem Services under its Technology Division, which is led by Fernando Paulo. Day-to-day activities of new Blockchain Lab will be led by CTO Stephen McNamara and Vice President of Engineering Fergal Downey, both previously employees of Bitnet company.

“We are delighted that Rakuten have chosen to open their new Blockchain Lab here in Belfast. There are so many great opportunities for blockchain technologies inside Rakuten and the newly created lab will be instrumental in delivering new and innovative solutions,” commented Fergal Downey.

The Japanese digital platform giant has great opportunities to promote the expansion of blockchain. With 12,000 employees around the world, Rakuten’s platform operates in such areas as banking, loans, payments, securities brokering, as well as in the media and travel and hotel booking portal, according to IBTimes.

Last month, Rakuten announced the acquisition of IP assets of Bitnet to continue developing and testing blockchain technology. In March last year, Rakuten.com announced that it accepts bitcoin as a payment method in the United States.

Lena Gabdullina