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Japanese Tech Giant Launches its Blockchain Based Credentials Rating Service

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Japanese Tech Giant Launches its Blockchain Based Credentials Rating Service

Fujitsu Laboratories, one of the most widely known tech research firms in Japan, has announced its blockchain based system. The system will enable the rating of identity and trustworthiness in online transactions.

The system will assign every user a “trustworthiness score” which is reached on the basis of user rating stored on a blockchain system. The users are expected to rate each other at the time of every transaction and it is this data which becomes the basis of each individual’s rating on the platform.

Advantage Over Other DID Solutions

DIDs are Decentralized Identification solutions that are used before carrying out a transaction. However, in these systems, the user has to put his trust in the third party. The third party verifies the identity of the parties who actually carry out the transaction.

However, in case of this platform, the users are able to verify the identity of the other transacting party, based on the ratings given to that user by their peers. This makes the process immune from malpractices like an illicit understanding between the third party and the user to falsify identity.

The Fujitsu solution will follow a graph-based approach to identifying the strength of the relationship between different users. Even if a user tries to increase their rating through collusion with a third party, the system will be able to identify it through the weakness of relation with other users.

Integration with Other Projects

This project by Fujitsu is to be integrated with other related projects by the company in the future. The company aims to integrate it with its blockchain based Virtuora DX Data Distribution and Utilization service. Moreover, they aim to do it within the financial year, 2019. Fujitsu had already made another big effort in blockchain based credential management technologies sector by being a part of a project with Sony. The project is aimed to make educational credentials and the certification system more trustworthy.

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I am a content writer with interests in life sciences and blockchain. I believe that blockchain has the potential to transform every aspect of human endeavor. I love surfing the internet, reading, learning new things, and trying new cuisines.

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