Discover how Fujitsu is revolutionizing the blockchain industry by interconnecting securities-focused networks with ConnectionChain. Explore the year-long pilot project with partners in Asia and see how this technology improves cross-border settlements.
In the ever-evolving world of authorized blockchains, bridges are now being created to connect different networks. Fujitsu, the Japanese technology giant, is at the forefront of this advance with its innovative technology called ConnectionChain.
Fujitsu Web3 Acceleration Platform!
On June 15, Fujitsu announced the successful completion of a one-year pilot project in collaboration with the Asian Development Bank, a regional financial institution established in 1966 to support economic and social development in the APAC region.
During this pilot phase, which began in January 2022, extensive testing was carried out using Fujitsu’s proprietary blockchain technology, ConnectionChain. In collaboration with Ethereum ConsenSys, R3 and Soramitsu, a technology company specializing in Hyperledger, Fujitsu demonstrated the effectiveness of its blockchain solution in streamlining and enhancing the security of cross-border financial transactions involving securities. ConnectionChain has successfully interconnected separate blockchain networks.
The trials carried out with ConnectionChain aimed to create a system capable of securely connecting multiple blockchains, thereby facilitating transactions between different economic zones. Successful settlements were made between the ASEAN region, Japan, China and South Korea.
Based on the success of the pilot project, Fujitsu is now preparing for the next phase of development. From June 30, they will be making available a test environment called the “Fujitsu Web3 Acceleration Platform“, incorporating ConnectionChain. This platform aims to offer flexible and secure connectivity across multiple economies, incorporating various technology components such as Data e-TRUST.
Fujitsu envisages several application areas for its technology, including payment solutions in the financial industry, as well as the retail and manufacturing sectors.
In addition, Fujitsu points out that the integration of ConnectionChain with their data exchange service, Data e-TRUST, enables the “Extended Smart Contract” function to operate autonomously. In other words, several external blockchains can function as an integrated system, simplifying the development process. ConnectionChain takes advantage of Ledger plugins (Cacti-LP) developed by the Hyperledger Cacti project, an open source initiative hosted by the Hyperledger Foundation, aimed at ensuring interoperability.
By connecting Data e-TRUST to various blockchains supported by Hyperledger Cacti, Fujitsu facilitates the creation of new Web3 services, revolutionizing the digital landscape.
As Fujitsu continues to move forward with ConnectionChain, its innovative technology is poised to transform the blockchain industry, enabling smooth transactions and promoting greater collaboration between blockchain networks worldwide.