Applying Blockchain Technology to Utilize Secure Data across Multiple Industries

Accelerating the Use of Big Data. What are the Challenges Hindering it?

Advancement in IoT technology and various sensors now allow us to collect/store large amounts of data on people and things in various industries and business categories. These data are being analyzed to develop unprecedented new services, marketing techniques and revolutionary products.

However, the data stored by the companies and industries are normally managed separately and are not disclosed. To share and utilize the data, it had to be stored in an external environment where it can be easily shared such as open spaces like the cloud. This was a major problem that required improvement in terms of data utilization, including data management and security.

Therefore, Fujitsu and Fujitsu Laboratories developed a software technology that allows between companies and organizations, safe utilization of big data stored and owned by other companies, organizations or associations.

Store Important Data at Hand and Disclose Only to Trusted Parties

Blockchain is a finance-related technology such as the virtual currency bitcoin, which exchanges encrypted information using P2P network that anyone can participate in. Distributed ledgers based on blockchain are stored and exchanged in an environment exposed to many viewers. Therefore, the fact that it is nearly impossible to alter/falsify parts of them makes it reliable. It is also failure-resistant, with the distributed ledger itself being stored and distributed in various locations on terminals on the network.

The advantage of the software technology we developed is that it allows data transactions exclusively with specific parties while maintaining the reliability of stored data. This software is based on Fujitsu’s Virtual Private digital eXchange technology, which uniquely extends blockchain features and applies it as a control technology for distributed data access, creating a safe and secure distribution network.

Data exchange built on blockchain

This software does not require collected/stored data itself to be moved to external servers such as those on the cloud for data sharing. ID information linking the attribute information, such as the types of data or elements that can be provided, and the location where that data is stored, is registered on the distributed ledger. To use the data, information on the distributed ledger is first searched, and an application for using the data is submitted to the company owning the data using the ID linked to the data to be used. The provider verifies the information on the application and sends the encrypted data to the requester once it is approved. The Smart Contract feature, which automates data usage applications, accessing authentication and data transmission, allows for easy and speedy use of data.

Additionally, the company owning the data can limit the destination of disclosure when registering data to provide. The existence of the data itself can be hidden from unwanted parties.

Promoting Mutual Use of Data Connects Different Industries and Creates Innovation

For example, think of an online shopping business trying to hold an actual event. Regarding prior marketing activities to measures on the day or later days, by using this software while holding customer data internally, information can be shared with other companies only when necessary, allowing efficient use of assets and a more effective pinpoint marketing strategy.

The large volume of data that companies and industries stored individually until now can be used safely and easily across frameworks such as industry/business category/company/individuals. This can promote mutual use of data and lead to significantly optimizing and transitioning to products with new perspectives in the area of new services/product development, as well as creating new marketing methods. Innovation will accelerate with the spread of the environment to other companies and industries.

Fujitsu plans to commercialize this software as part of the Fujitsu Network Virtuora series by the end of fiscal 2017. We support a society that creates new value by providing solutions such as this for optimizing and accelerating data utilization.