Fujitsu launches blockchain collaboration technology to build Web3 services: Fujitsu Global

The effectiveness of Fujitsu’s “ConnectionChain” technology for cross-border securities settlement demonstrated in Asian Development Bank field trials

Fujitsu Limited

Tokyo, June 15, 2023

Fujitsu today announced the successful completion of a year-long pilot project starting in January 2022 for its proprietary “ConnectionChain” blockchain technology with the Asian Development Bank, blockchain vendor ConsenSys Software Inc., R3 and SORAMITSU, LTD. and improving the security of cross-border transactions (1) of financial securities.

The trials integrated “ConnectionChain” to realize a system that can connect multiple blockchains to securely facilitate transactions between different economic areas. The trials focused on improving cross-border securities settlement in countries including ASEAN, Japan, China and South Korea.

Based on the results of the project, Fujitsu will begin offering a pilot environment, “Fujitsu Web3 Acceleration Platform”, which integrates “ConnectionChain” to enable flexible, secure connectivity across multiple economies from June 30, 2023. Fujitsu’s Web3 Acceleration Platform offers a number of “Fujitsu Computing as a Service Data e-TRUST” (“Data e-TRUST”) technologies to partners participating in the “Fujitsu Accelerator Program for CaaS”, Fujitsu’s global partner co-creation program for CaaS its Computing as a Service platform.

In the future, Fujitsu expects applications for the technology to cover a wide range of payment use cases, not only in the financial sector, but also in the distribution and manufacturing industries. By conducting verification testing with various partners, Fujitsu will further advance the social deployment of Web3-related technologies such as blockchain and create new markets through “Hybrid IT”, as part of its vision to create the digital infrastructure to connected society under “Fujitsu Uvance.”

Developer feature added to “Data e-TRUST”

“ConnectionChain”, which will be added to “Data e-TRUST”, will enable the “Extended Smart Contract” feature to function autonomously, allowing multiple third-party blockchains to operate as one integrated system. To connect different types of blockchains, it is necessary to develop a connection that absorbs the differences in the specifications of each blockchain, but since each type of blockchain needs to be developed, “ConnectionChain” has streamlined this development by including plugins called Cacti-LP (Ledger Plugins), developed by “Hyperledger Cacti,” an OSS project hosted by the Hyperledger Foundation (2) around the theme ensure interoperability. This allows “Data e-TRUST” to connect to the various blockchains supported by “Hyperledger Cacti”, making it easier to build new Web3 services.

Fujitsu will also develop Cacti-LP to connect “Data e-TRUST” to third-party blockchains supporting Hyperledger Cacti, and contribute source code to the “Hyperledger Cacti” development community to accelerate delivery of Web3 services to third-party partners via “Hyperledger Cacti.”

Figure 1: Add ledger link function to Data e-TRUSTFigure 1: Add ledger link function to Data e-TRUST

Pilot project “ConnectionChain” for cross-border securities settlement

In collaboration with the Asian Development Bank, ConsenSys, R3 and SORAMITSU, Fujitsu has developed a system to connect each company’s networks through “ConnectionChain”. Fujitsu has successfully confirmed the operation of a project aimed at improving the efficiency and security of cross-border transactions that simultaneously carry out overseas remittances and securities delivery, based on its use by central banks and securities settlement institutions in each country . In this experiment, two ledgers were built to manage the balance of two legal currencies and one ledger to manage the ownership of securities, and these three decentralized ledgers were implemented in “ConnectionChain” in accordance with the current transaction rules adhered to by all financial institutions. institutions involved in transactions. This project is a field trial aimed at improving the efficiency and security of cross-border securities transactions in ASEAN, Japan, China and South Korea, where settlement takes at least two days due to the time difference between the global centers in Europe and the United States. States and the difference in market transaction time. Fujitsu, anticipating that central banks and securities settlement institutions around the world could one day use this system, has developed a cross-border securities settlement system by combining the decentralized ledger technology and blockchain-based financial system developed by ConsenSys, R3 and SORAMITSU. to connect. experimentally, with “ConnectionChain.”

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*Fujitsu Laboratories Ltd. has been integrated into Fujitsu Limited as of April 1, 2021.

Fujitsu’s commitment to the Sustainable Development Goals (SDGs)

The Sustainable Development Goals (SDGs) adopted by the United Nations in 2015 represent a set of common goals to be achieved globally by 2030.

Fujitsu’s goal – “making the world more sustainable by building trust in society through innovation” – is a pledge to contribute to the vision of a better future supported by the SDGs.

The goals most relevant to this project

About Fujitsu

Fujitsu’s goal is to make the world more sustainable through innovation and build trust in society. As the digital transformation partner of choice for clients in more than 100 countries, our 124,000 employees are working to solve some of the greatest challenges facing humanity. Our range of services and solutions is based on five key technologies: computing, networking, AI, data and security and converging technologies, which we bring together to deliver sustainability transformation. Fujitsu Limited (TSE:6702) reported consolidated revenue of 3.7 trillion yen ($28 billion) for the fiscal year ended March 31, 2023 and remains the largest digital service provider in Japan by market share. More information:

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All company or product names mentioned herein are trademarks or registered trademarks of their respective owners. The information in this press release is correct at the time of publication and is subject to change without notice.

Date: June 15, 2023

City: Tokyo, Japan

Company: Fujitsu Limited

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