Accelerating the Use of Big Data: What are the Challenges ahead?
Advancements in IoT and sensor technologies now allow us to collect and store vast amounts of data about people and things across various industries and business categories. This data is being analyzed to develop unprecedented new services, marketing techniques, and revolutionary products.
Despite this, companies and industries normally manage the data they collect separately and don't disclose it with one another. Until now, in order to share and utilize this data, it had to be stored in an external environment where it can be easily shared such as open spaces like the cloud. This issue represented a major impediment to the effective utilization of data, including in areas like data management and security.
To address this challenge, Fujitsu and Fujitsu Laboratories developed a software technology that allows companies and organizations to safely take advantage 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 technology well-known for its applications in financial areas, particularly virtual currencies like bitcoin, which exchanges encrypted information using a P2P network that anyone can participate in. Distributed ledgers based on blockchain are stored and exchanged in an environment exposed to many viewers. The fact that it is nearly impossible to alter or falsify parts data encoded with blockchain makes it reliable technology. 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 lies in its ability to support exclusive data transactions between specific parties while simultaneously maintaining the reliability of stored data. This software is based on Fujitsu's Virtual Private digital eXchange technology, which uniquely extends aspects of blockchain technology and applies it as a control technology for distributed data access, creating a safe and secure distribution network.
This software doesn't require collected or stored data itself to be moved to external servers (e.g. on the cloud) for data sharing. ID information linking the attribute information is registered on the distributed ledger, including by data type or elements that can be provided, as well as its storage location. To use the data, information on the distributed ledger is located with a search, and an application for using the data is submitted to the owner company with the ID linked to the data being requested. The provider verifies the information on the application and sends the encrypted data to the requester once it gets approved. The Smart Contract feature, which automates data usage applications, access authentication, and data transmission, allows for the seamless, yet secure use of data.
Additionally, when registering which data to provide on the exchange, the company that owns the data can limit the destination of disclosure. This means that existence of the data itself can be hidden from unwanted parties.
Promoting Mutual Use of Data Connects Different Industries and Creates Innovation
For example, let's consider the case of an online shopping business trying to hold a live, public event. The company collects data about their marketing activities prior to the event, as well as the day of the event itself and in the days following it. By using this software while storing customer data internally, this information can be shared with other companies only when necessary, allowing for the efficient use of company assets and supporting a more effective, pinpoint marketing strategy.
Thanks to this unique solution, the large volume of data that companies and industries stored individually until now can be used safely and easily across a broad spectrum of frameworks including different industries, business categories, companies, and individuals. Fujitsu aims to promote the reciprocal use of data and lead to a and transitioning toward 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.