| The name of the base system (platform): | Projects based on blockchain technology |
| Developers: | Fujitsu |
| Date of the premiere of the system: | July, 2019 |
| Branches: | Financial services, investments and audit |
2019: Announcement of the platform
At the beginning of July, 2019 Fujitsu Laboratories, subsidiary company of the Japanese IT corporation Fujitsu, provided a blockchain system of confirmation of the identity of participants of online transactions who will increase their security.
Fast development of digital technologies was followed by sharp increase in number of online transactions at which participants can not always trust completely each other. Fujitsu Laboratories claims that the new technology for exchange of digital identifications will solve this problem with the help of the convenient functionality including visualization of the relations between users and also unique "assessment of trust" which facilitates determination of reliability of each party before transaction.
The new technology allows individuals and to the companies making online transactions to confirm the personality of other involved parties. What is even more important, the system of identification estimates reliability of credentials of other party. Actually it defines reputation and the rating of each party and fixes these estimates in the unchangeable distributed register.
Reliability assessment is appropriated to each user using special coefficients which consider last transactions the number of the entrusted users who highly estimated these partners. Fujitsu noted that unfair users will not manage to raise assessment, having entered into a collision to the third party — the analysis of the relations with other parties will at once reveal distortions.
Fujitsu Laboratories actively participates in studying and implementation of blockchain technology. The company cooperated with IOTA in creation of the new standard of the protocol in production of technology devices – Industry 4.0, developed a solution blockchain for interbank settlements and the DLT platform for the electricity market.[1]
Notes
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