Japan’s Fujitsu develops blockchain technology to transfer confidential data

Have posted several blogs on blockchain technology related to cryptocurrencies that may be of particular interest to people interested in this technology. The other day it was mentioned too that Dubai’s government will be transferring all of their government documents to blackchain technology, and now Japan’s Fijitsu just released news they will also be transferring confidential data to blockchain technology. The advantage of blockchain technology is that it provides transparency and extreme reliability.

Source: cryptocoinnews

Fujitsu Develops Blockchain Technology for Confidential Data Transfer

October 20, 2016

Blockchain technology provides information sharing with high transparency and reliability, without management by a specific trusted organization. Financial trading applications, however, have operational issues related to safely executing trades, such as key management. Document management applications bring issues in creating a system that limits which people are allowed to reference information recorded in the blockchain.

Fujitsu Laboratories of America, Inc. and Fujitsu Laboratories Ltd. have developed blockchain-based technologies to securely handle confidential data among multiple organizations.

Fujitsu: Two Technologies

Fujitsu Laboratories has developed two technologies: a transaction restriction technology based on pre-established policies that restrict trading, and a document encryption technology that allows only parties holding multiple distributed keys to access information recorded in the distributed ledger.

With transaction restriction technology, operations that prevent the misuse of keys become possible, allowing the safer use of the blockchain.

Please go to the cryptocoinnews to read the entire article.