Japan-based Fujitsu Laboratories Ltd. and Fujitsu Laboratories of America, Inc. announced that they have developed blockchain-based security technologies in order to safely handle confidential data between multiple organizations.
The company focuses on applying blockchain technology to a variety of fields and has developed two technologies, one being a transaction restriction technology based on pre-established policies to restrict trading, such as by restricting users. The second is a document encryption technology that allows only relevant parties who hold multiple distributed keys to securely access the information recorded in the blockchain, the release stated.
The transaction restriction technology enables operations to prevent the misuse or abuse of keys and safer use of the blockchain technology. On the other hand, with document encryption technology, a workflow can be created where documents are acknowledged by collective decision making or between specified organizations. With the help of these two technologies, Fujitsu Laboratories contribute to expanding the applicable fields where blockchain can be used such as logistics, supply chain, official document management, among others.
“Fujitsu Laboratories is carrying out trials of the applicability of blockchain to business in finance and a variety of other areas. As a cloud platform, that can safely and securely handle confidential information and personal data between multiple organizations, aiming for commercialization of this technology from fiscal 2017 onwards,” the release stated.
