Fujitsu Laboratories Ltd plans to develop its digital identity exchange technology as a ‘trust-based platform’ that supports digital business. The company announced that blockchain technology will be used to demonstrate reputation and enhance confidence in user validation for the development of digital identity technology.
Fujitsu digital identity exchange technology
According to Fujitsu, the new technology allows individual users and companies involved in online transactions to verify the identity of other parties.
It is developed based on the DID system of decentralized identification – in which a third party guarantees the identity of an individual using the blockchain technology. It has the potential to entirely change the economy and the balance of power between industries. It can have a specific application for businesses.
Fujitsu Laboratories further analyzes the risk of counterfeiting, as well as the reliability of personal credentials of the other party when the user implements a transaction online. This is achieved by mutual assessment of the user when a transaction occurs. Further, the relationship between the user is based on the data from the previous transactions.
Fujitsu’s new technology allows users to enjoy online services more securely, offering significantly simpler features, such as graphics for visualizing user-to-customer relationships, or a “trust score” that explains determining each one’s reliability of the user before the transaction starts.
Reputation and rating estimates for each transaction participant are recorded as a series of transactional data that Fujitsu said, when stored on a blockchain, provide a better insight into the reliability of each user.
Trust-based service platform
New product converts individual transaction data into the graphic structure when they are found on a blockchain. After, different factors are used to measure the reliability results for each user, including how highly reliable users value them.
In cases where a user stops with a third party to improperly increase his judgment, graphic-structured relationships will reveal information such as the vulnerability of their relationships with other users, which gives the system the ability to identify misinterpretations, the company said.
Users can disclose only relevant data; again, they can verify their credentials and enable secure and highly reliable transactions. Users are not forced to provide unnecessary personal information. The company sees its platform as trust-based.
Implementationo in 2019
Fujitsu wants to implement this technology in 2019 as a new feature of the Fujitsu Intelligent Data Service Virtuoso DKS. This cloud-based cloud-based service is based on blockchain technology.