Fujitsu achieves success in a year-long pilot project with the Asian Development Bank and industry partners, demonstrating the effectiveness of its blockchain technology, “ConnectionChain,” in enhancing cross-border financial securities transactions.
The trials focused on enhancing cross-border securities settlement in regions including ASEAN, Japan, China, and South Korea.
Based on the project’s positive results, Fujitsu to unveil the Fujitsu Web3 Acceleration Platform, leveraging “ConnectionChain” to facilitate secure cross-economy connectivity and empower partners with flexible and trusted Fujitsu Computing as a Service Data e-TRUST technologies for diverse industries.
Fujitsu envisions broader applications for its technology, aiming to explore diverse payment use cases beyond finance. Through verification tests with various partners, the company plans to promote the social implementation of Web3 technologies like blockchain and drive the creation of new markets under its vision of a connected society.
To facilitate seamless integration between different blockchains, Fujitsu has added “ConnectionChain” to its “Data e-TRUST” framework. This feature allows for the autonomous operation of the “Extended Smart Contract” and enables multiple external blockchains to function as an integrated system.
Through the use of plugins called Cacti-LP, developed by the Hyperledger Foundation’s OSS project “Hyperledger Cacti,” Fujitsu simplifies the development process, fostering interoperability and enabling easier construction of new Web3 services.
In collaboration with the Asian Development Bank, ConsenSys, R3, and SORAMITSU, Fujitsu successfully developed a system that interconnected the networks of participating companies using “ConnectionChain.”
The project aimed to enhance efficiency and safety in cross-border transactions, showcasing the potential for a global cross-border securities settlement system by integrating decentralized ledger technology and blockchain-based financial systems for utilization by central banks and securities settlement institutions worldwide.
Fujitsu’s “ConnectionChain” blockchain collaboration technology brings us closer to the realization of Web3 services and holds promise for revolutionizing cross-border transactions with enhanced efficiency and security.
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