May 17, 2020

Fujitsu develops secure technology for blockchain interconnectivity

fujitsu
ConnectionChain
Blockchain
IBM
Jonathan Dyble
1 min
Fujitsu
Fujitsu Laboratories, the research and development arm of Japan’s Fujitsu, has unveiled a new technology named ConnectionChain that allows secure and...

Fujitsu Laboratories, the research and development arm of Japan’s Fujitsu, has unveiled a new technology named ConnectionChain that allows secure and efficient connectivity between different blockchain platforms.

A number of big name companies have developed independent blockchain payment systems of late, with R3, JPMorgan and IBM all having done so within the last month. However, processing payments between these platforms in a secure and efficient manor has posed significant problems, largely due to lack of transparency.

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As a resolution to this problem, ConnectionChain acts as an extension of smart contract technology, whereby blockchain systems are interconnected by recording transactions on each chain in a dedicated blockchain, that then enables digital currency exchanges to be executed in a single process.

The connecting blockchain records the entire process, guaranteeing transparency within these transaction processes.

With the development and trial of ConnectionChain having been successful, Fujitsu will now aim to expand the technology and use it within different areas including high-trust data exchanges.

Further, the firm aims to have the technology prepared for commercialisation in fiscal 2018.

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Jul 7, 2021

ServiceNow pumps millions into EU service compliance

ServiceNow
Compliance
EU
Schrems II
2 min
ServiceNow
ServiceNow has announced a multimillion euro investment in EU services, providing customers even greater trust, choice, and control over their data

ServiceNow, the digital workflow company, has announced a multimillion euro investment to help EU customers meet compliance requirements.

The legal, technical and organisational safeguards will help companies to comply with the the Schrems II judgment and European Data Protection Board (EDPB) Recommendations issued in June 2021.

ServiceNow’s investment means all EU-hosted data will be exclusively handled within the EU, and the cloud-hosted digital workflow provider claims its solution will come “without impact on current delivery and service”.

ServiceNow upgrade: free of charge

There will be no cost for current customers to opt in to the data compliance solution, even though ServiceNow is investing an unspecified multimillion euro sum and hiring more than 80 new staff across the bloc.

Mark Cockerill, vice president legal, EMEA and global head of privacy at ServiceNow, said: “With any regulation change, cloud services companies have a choice. They can adopt a ‘wait and see’ approach or get proactive and help customers and partners innovate. At ServiceNow we are on the front foot, continually investing in our customers, allowing them to operate with the highest level of choice and control over their EU data.

ServiceNow upgrade: ‘peace of mind’

“Our new EU-centric service delivery model will give our current customers and partners peace of mind. For customers and partners operating in highly regulated industries, or in the public sector, or those that have yet to make the switch to the cloud, this model gives them certainty and simplicity when selecting the cloud service that best suits their needs.”

Carla Arend, lead analyst, cloud in europe for IDC, said, “The Schrems II ruling has led European organizations to revisit their cloud-related data protection policies and processes when it comes to international data transfers through cloud services.

“Contractual, privacy, and security safeguards and the assurance that data will be kept and handled in the EU help European organizations to comply with European data protection laws while taking advantage of global cloud platforms. Vendors, such as ServiceNow, that invest to support their customers in response to this ruling are providing essential choice to their customers.”

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