IT Firm Fujitsu Sees Commercial Interest in Blockchain Security

Japanese IT giant Fujitsu has developed tools for securely sharing documents via blockchain, with an eye to bring commercial products to market next year.

Detailed earlier this week, the project was co-developed by Fujitsu teams based in Japan and the US. The news comes months after Fujitsu joined the Linux Foundation-led Hyperledger blockchain project, with Yoshinobu Sawano, Fujitsu’s lead on fintech initiatives, sitting on its governing board. The company has also worked with firms like Japanese bank Mizuho on other blockchain applications.

Now, Fujitsu is pitching what it calls “blockchain-based security technologies” following months of internal development. While subject to further testing, Fujitsu said that it would seek to launch commercialize products sometime in 2017.

Fujitsu explained in a recent blog post:

“With a view to applying the blockchain to a variety of fields, Fujitsu Laboratories has now developed two technologies: a transaction restriction technology based on pre-established policies to restrict trading, such as by restricting users, and a document encryption technology, which allows only relevant parties who hold multiple distributed keys to securely access the information recorded in the blockchain.”

The company said it would look to apply the tech to supply chain and back office environments, though it didn’t offer details on the specific industries for which they’re aiming.

Images via Fujitsu, Shutterstock