Fujitsu Completes Trial of ConnectionChain Blockchain Technology
The one-year demonstration initiative for Fujitsu’s ConnectionChain blockchain technology has been successfully completed with the participation of the Asian Development Bank, ConsenSys Software, R3, and SORAMITSU. The effectiveness of ConnectionChain in accelerating and improving the security of cross-border financial securities transactions was demonstrated by the initiative. The focus of the trials was to improve the settlement of securities across borders in various regions, including ASEAN, Japan, China, and South Korea.
Based on the outcomes, Fujitsu is set to provide a trial environment known as the Fujitsu Web3 Acceleration Platform, which integrates ConnectionChain to enable adaptable and secure connectivity across various economies. Fujitsu anticipates that the technology will be employed across diverse sectors such as finance, distribution, and manufacturing. The ConnectionChain platform facilitates the integration of numerous external blockchains into a unified system. It utilizes Cacti-LP modules to ensure seamless interoperability among the blockchains.
Fujitsu has effectively concluded a one-year demonstration program for its ConnectionChain blockchain technology in collaboration with the Asian Development Bank, ConsenSys Software, R3, and SORAMITSU. The initiative, launched in January 2022, aimed to accelerate and enhance the security of global financial securities transactions.
The experiments integrated ConnectionChain into a system that can link various blockchains to enable secure transactions across different economic domains. The focus was on improving the settlement of securities across borders in areas like ASEAN, Japan, China, and South Korea.
Fujitsu is set to launch a trial environment called the Fujitsu Web3 Acceleration Platform, which is based on the success of the project. This platform integrates ConnectionChain technology to enable secure and adaptable connectivity across various economies. The platform will be available for access starting on June 30, 2023. The Fujitsu Web3 Acceleration Platform offers the Data e-TRUST technology of Fujitsu Computing as a Service to partners of the Fujitsu Accelerator Program for CaaS.
Fujitsu foresees the potential for the technology to be utilized across a wide range of payment scenarios, encompassing various industries such as distribution and manufacturing. Fujitsu aims to advance the societal adoption of Web3 technologies, including blockchain, and generate novel markets via hybrid IT. To achieve this, the company plans to conduct validation trials with various partners. Fujitsu Uvance aims to establish the digital infrastructure required to realize a connected society as part of its overarching vision.
The incorporation of ConnectionChain into Data e-TRUST facilitates the independent functioning of the Extended Smart Contract characteristic. This enables the integration of several external blockchains into a cohesive system. In order to establish a connection between different blockchain networks, it is imperative to devise a mechanism that can effectively cater to the distinctive attributes of each blockchain. The integration of Hyperledger Cacti’s Cacti-LP modules by ConnectionChain has facilitated the development process. The Hyperledger Foundation hosts the Cacti project, which is an open-source initiative. The aforementioned modules ensure interoperability and facilitate communication between Data e-TRUST and the diverse blockchains of the system.
The successful implementation of the pilot project and the launch of the Fujitsu Web3 Acceleration Platform signify noteworthy progressions in the realm of blockchain technology. The incorporation of ConnectionChain onto the platform will facilitate secure and efficient cross-border transactions of financial securities. The potential of this technology to transform the financial, distribution, and manufacturing sectors is significant.
Fujitsu will continue to collaborate with partners and conduct verification tests to further promote the social implementation of Web3-related technologies. Fujitsu Uvance has a vision that the establishment of fresh markets with the aid of hybrid IT will play a significant role in achieving a connected society.
Fujitsu’s cutting-edge blockchain collaboration technology is set to transform global transactions by facilitating the creation of Web3 services. The successful implementation of the pilot project and the launch of the Fujitsu Web3 Acceleration Platform serve as evidence of the effectiveness and promise of ConnectionChain in enhancing the security and efficiency of financial securities transactions. The aim of Fujitsu in integrating this technology is to establish a connected society and expedite the adoption of blockchain technology in various industries.