Fujitsu is developing a blockchain-based Decentralized Identity (DID) platform that will give people and businesses more confidence in digital transactions. The platform will essentially vouch for the legitimacy of the entity at the other end of the line, letting users know that it is safe to transfer money even when no one is physically present for the transaction.
To do so, the platform will analyze each party’s previous transactions, creating a trust score based on reputation and user rating. The score goes up if other people have had a positive experience with a given user. The opposite is true if prior partners have not enjoyed their interactions.
Fujitsu will convert those scores into a simple graph, making it easy for people to assess the trustworthiness of another party before performing an exchange. Thanks to the blockchain, the transaction evaluations used to generate the trust score cannot be falsified or tampered with, which allows the decentralized digital identity exchange to establish a high level of trust without the need to disclose unnecessary personal information.
Fujitsu plans to launch the DID platform in the current fiscal year, and will integrate the technology into its cloud-based Virtuora DX Data Distribution and Utilization Service. The company is one of several currently developing decentralized identity systems, with WISeKey, HYPR, and Microsoft all having made major announcements since the beginning of 2018.
July 4, 2019 – by Eric Weiss