Fujitsu unveils blockchain-based tech to verify users' ID during online transactions

Layer 1s • July 4, 2019, 5:56AM EDT
UPDATED: July 4, 2019, 6:03AM EDT
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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. 

AUTHOR

Isabel Woodford profile picture Isabel Woodford

Isabel is The Block's London and European reporter. She previously reported for Reuters in Madrid and London, following on from her time as a freelance journalist for the Guardian and the New York Times. She has a Bachelors in War Studies from King’s College London and a Master of Philosophy from the University of Oxford. Conflict of Interest: Edward Woodford, the CEO of SeedCX, is Isabel's brother. She does not report on any issues related to Seed or advise other authors in any regard.

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