Fujitsu Laboratories have created a blockchain-powered system which checks the identity of online payment participants, the company announced in a press release.
Decentralized Identification (DID) provides individuals and businesses with a tool to rate other users' trustworthiness during online transactions. They each contribute and store the data on a shared "unfalsifiable distributed ledger." DID then analyses “the risk of falsification," giving the user a rating depending on how other trustworthy users have scored them. Fujitsu also said there were systems in place so that if a bad agent colludes with a third party to raise their evaluation, other users might spot "misrepresentations".
It is not Fujitsu's first foray with blockchain, having launched an enterprise offering last year for customers wishing to trial DLT.