Fujitsu develops secure technology for blockchain interconnectivity
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.
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.