Japanese bank Mizuho Bank has partnered with local payments firm JCB and Fujitsu Laboratories to test blockchain-based digital identity tools. Fujitsu Laboratories, which developed the proposed blockchain solution for the new system, revealed details on the partnership in an on the 15th of October.
The three companies will jointly pilot a system that will ensure the security of sensitive information. Now, ID information used by companies during transactions will be protected with the help of the new joint initiative.
Also, the pilot process, which is scheduled for four months, will involve employees of Fujitsu Group in Japan. About 100 employees of the company will serve as participants for the test.
In addition, Fujitsu said in the announcement:
unveiled a blockchain-based solutionImage Credits: Pixabay