On July 4th Fujitsu Laboratories Ltd. announced that it has developed a digital identity exchange technology that makes it possible for individual users and service businesses involved in online transactions to confirm the identity of other parties in transactions.
The rapid advance of digitalization in recent years has been accompanied by a dramatic rise in the number of online transactions in which users cannot see one another face to face, making it difficult to judge the credibility of the other party and leading to heightened concerns around trust. With reports of fraud and instances of people falsifying personal credentials like work history and professional qualifications growing increasingly prevalent, ensuring the circulation of high-quality, reliable identification data poses an urgent challenge to users and businesses alike.
To address this, Fujitsu Laboratories has developed technology based on a Decentralized Identification (DID)(1) utilizing blockchain that analyzes the risk of falsification and the trustworthiness of the other party’s personal credentials when a user conducts a transaction online. The new technology achieves this through a mutual evaluation of the users when a transaction occurs, and by inferring the relationships between users based on past transaction data.
Fujitsu’s new digital identity exchange technology promises a future in which people can enjoy online services more safely, offering user-friendly features including graphics to visualize the relationships between users, as well as a unique “trust score” that make it easier to determine each user’s trustworthiness before starting a transaction.
Fujitsu Laboratories will continue to develop a digital identity exchange technology as a trust-based service platform supporting digital business, conducting trials in a variety of fields, beginning with the finance industry. In addition, Fujitsu aims to implement this technology during fiscal 2019 as a new functionality in its Fujitsu Intelligent Data Service Virtuora DX Data Distribution and Utilization Service, a cloud-based solution for data utilization powered by blockchain technology.