Two Japanese firms, Infoteria Corporation, which specialises in the development of extensible markup language (XML) software, and Tech Bureau Corporation, which operates a bitcoin exchange platform, recently announced that they have transferred loan and deposit account information from BC Finance, a microfinance institution based in Myanmar that is wholly owned by Bagan Capital, to a private blockchain database.This type of database is decentralized in that multiple networked computers hold the encrypted data and must approve exchanges before they can be recorded. The backers of blockchain technology characterize it as a safe and cheaper way to store various kinds of data.
As of March 31, 2016, Infoteria reported total revenue of JPY 1.6 billion (approximately USD 15.4 million), net income of JPY 131 million (approximately USD 1.3 million) and total assets of JPY 3.4 billion (approximately USD 32.9 million). Bagan Capital, based in Hong Kong, is an investment firm focusing on opportunities in Myanmar. Financial data on Tech Bureau, Bagan Capital and BC Finance are not available.
By Imke Herholdt, Research Associate
About Infoteria Corporation
Infoteria is a Japanese company headquartered in Tokyo that develops software based on extensible markup language (XML), as well as offering XML consulting and training services. Products owned by Infoteria include Asteria and Asteria Warp. As of March 31,2016, Infoteria reported total revenue of JPY 1.6 billion (approximately USD 15.4 million), net income of JPY 131 million (approximately USD 1.3 million), total assets of JPY 3.4 billion (approximately USD 32.9 million), return on assets of 4.4 percent and return on equity of 5.8 percent.
About Tech Bureau Corporation
Tech Bureau is a Japanese company that operates a bitcoin exchange platform for customers in Japan. Bitcoin is a digital form of currency based on a peer-to-peer payment network. Created in 2008, it is known as a “cryptocurrency”, because it uses cryptography to secure and control its transactions, and has no central governing authority. No financial information on the firm is available.
About BC Finance Limited
BC Finance is a microfinance institution (MFI) in Myanmar that was founded in 2013 as a wholly-owned subsidiary of Bagan Capital, a Hong Kong-based private equity and advisory group established in 2011. Bagan Capital focusses exclusively on Myanmar, and its services include identifying investment opportunities, raising capital, performing due diligence and formulating and implementing corporate strategy. Financial information is not available on either organization.
Sources and Additional Resources
 PR Newswire: Infoteria and Tech Bureau Complete World’s First Successful Demonstration Experiment of Private Blockchain in Account Data Recording for Microfinance
 Chain Finance: Demonstration of Private Blockchain in Account Data Recording for Microfinance by Infoteria and Tech Bureau
 MicroCapital Universe Profile: BC Finance
 Bloomberg Markets: Infoteria Corp
 Reuters.com: Infoteria Corp
 FT.com: Infoteria Corp
 Bloomberg.com: Tech Bureau Corporation
 World Economic Forum: All you need to know about blockchain, explained simply
 MicroCapital Universe Profile: Bitcoin
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