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Japanese Bankers Association to Employ Fujitsu Cloud Service-Based Blockchain Platform

Submitted By: 

Neha Rastogi
Fujitsu has recently announced that the Japanese Bankers Association (JBA) is going to adapt the former’s cloud service-based Blockchain platform. It would be made available over Fujitsu Cloud Service K5. Starting from October 2017, JBA is planning to offer this Collaborative Blockchain Platform as a testbed environment to its member banks and other institutions.
 
The platform is going to be rendered for applications employing blockchain technology like settlement and funds transfer services, and identity and time-of-transaction authentication. The association will also support the practical implementation of these applications. 
 
 
Collaborative Blockchain Platform (Image Courtesy: Fujitsu)
 
Powered by Hyperledger Fabric, this cloud service sits on top of the company’s Cloud platform K5. The service also includes standardized business APIs like digital asset management that can be used in a variety of banking operations, as well as other industries’ operations with robust security features and more. The platform will enable JBA and its member banks to develop applications for new financial services and quickly test them. 
 
Amid rapid advances in the field of FinTech, a new trend in financial products and services, initiatives to transform the infrastructure for funds settlement and encourage financial innovation employing IT are important from the perspective of improving international competitiveness.

About Fujitsu

Fujitsu is the leading Japanese information and communication technology (ICT) company offering a full range of technology products, solutions, and services. Approximately 155,000 Fujitsu people support customers in more than 100 countries.