# RakutenBlockchain Lab to Open in Belfast
Author:  Pal Sinha, Barnali 
Author URL: https://financedigest.com/author/pal-sinha-barnali
Published: 2016-08-22
Category: Uncategorized
Category URL: https://financedigest.com/category/uncategorized
Meta Title: Rakuten Launches Blockchain Lab in Belfast, UK
Meta Description: Discover Rakuten's new Blockchain Lab in Belfast, focusing on fintech and e-commerce innovations powered by blockchain technology. Exciting times ahead!
URL: https://financedigest.com/rakutenblockchain-lab-to-open-in-belfasthtml

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Launch follows IP asset acquisition from Bitnet Technologies, Ltd.

Rakuten, Inc. (TSE: 4755) today announced the opening of the Rakuten Blockchain Lab (R.B.L.) in Belfast, UK, planned for August 22, 2016. R.B.L. will be a dedicated research and [development organization](https://www.financedigest.com/the-baby-personal-care-market-gloat-over-organic-development.html "The Baby Personal Care Market Gloat Over Organic Development") within Rakuten, focused on blockchain technology and its potential applications in the fintech and e-commerce sectors.

The establishment of R.B.L. follows the acquisition by Rakuten of IP assets from Bitnet Technologies Ltd., operators of a [digital payments](https://www.financedigest.com/digital-payment-tools-the-new-normal-for-charity-fundraising.html "Digital payment tools: the new normal for charity fundraising?") platform powered by blockchain. R.B.L. day-to-day operations will be [headed up by Chief Technology Officer](https://www.financedigest.com/impact-com-appoints-mike-head-as-cro-and-jenna-mills-as-director-public-relations-promotes-cristy-ebert-garcia-to-chief-marketing-officer.html "impact.com appoints Mike Head as CRO and Jenna Mills as Director, Public Relations, promotes Cristy Ebert Garcia to Chief Marketing Officer") Stephen McNamara and Vice President of Engineering Fergal Downey, both of whom will join from Bitnet. The Lab will be part of Rakuten’s Ecosystem [Services organization under its Technology](https://www.financedigest.com/how-advanced-self-service-technologies-are-changing-the-face-of-finance.html "How Advanced Self-Service Technologies are Changing the Face of Finance") Division, which is led by Fernando Paulo, Executive Officer, Rakuten, Inc.

Yasufumi Hirai, Group Executive Vice President, CIO, CISO and head of the Technology Division, Rakuten, Inc., commented, “Drawing on the significant IP assets and deep engineering expertise of the Bitnet team and combining that with Rakuten’s leadership in fintech and support of innovative solutions, the new Rakuten Blockchain Lab will be our first step toward unlocking [blockchain’s potential](https://www.financedigest.com/the-real-potential-of-web-3-0-and-blockchain-for-business.html "The Real Potential of Web 3.0 and Blockchain for Business") to revolutionize the way that financial and e-commerce transactions are conducted.”

“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](https://www.financedigest.com/airway-clearance-devices-system-market-industry-analysis-opportunities-technology-demand-top-players-and-growth-forecast-2027.html "Airway Clearance Devices System Market Industry Analysis, Opportunities, Technology, Demand, Top Players and Growth Forecast 2027") inside Rakuten and the newly created lab will be instrumental in delivering new and innovative solutions” said Fergal Downey, VP of Engineering of the new Rakuten Blockchain Lab.

Rakuten is committed to [leading global](https://www.financedigest.com/healthcare-information-systems-market-2021-global-leading-companies-analysis-revenue-trends-and-forecasts-2027.html "Healthcare Information Systems Market 2021 Global Leading Companies Analysis, Revenue, Trends and Forecasts 2027") innovation in fintech and providing world-class solutions to our customers.


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