Fujitsu to launch blockchain-based identity validation system

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Tech giant Fujitsu is building a new identity authentication technology on the back of blockchain programming. According to the company, this new identity validation system would allow for a more secure online environment where business partners taking part in transactions would be able to authenticate each other’s identities.

The initiative is reportedly built using DID, or Decentralized Identification, a network that allows different parties to ascertain the validity of their identities and personal data. The company has used blockchain to bolster the initiative, reducing risks of malpractices within the system.

The company believes that this technology could elevate the broader conduct of the business space, allowing stronger ties with less suspicion and mutual regard between business parties.

The system will also include a system of reviews and evaluations for each transaction, allowing ratings that will be stored within the blockchain system. According to the tech major, this will help to drive stronger processes in the future with more robust feedback and insight.

Along with this, a score for ‘trustworthiness’ is also pinned to all users that participate in the system’s process.

In a comment made regarding the project, the company revealed that the system also makes use of an insightful graph element that prevents tampering of the system and ensure a high standard of authentication.

The tech behemoth has also announced plans to institute this new tech within the coming year. The firm plans to apply the system as a new feature in its anticipated ‘Fujitsu Intelligent Data Service’, an upcoming project that the firm is gearing up to launch.

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