Japanese information technology major Fujitsu launched its novel ConnectionChain payments applied scientific discipline aimed at facilitating transactions betwixt Blockchain inward mid-November 2017.
The payments organization intends to render a way for unlike cryptocurrency networks to interoperate amongst each other.
In its
statement, the fellowship said that that in that place is an increasing number of activities around digital currency exchanges too initial money offerings (ICO). However, to effectively accomplish a successful village betwixt digital currencies, in that place should hold out a dependable application to contend the currency telephone commutation processing at the boundaries betwixt the Blockchains inward a transparent manner.
"Settlement betwixt virtual currencies managed using Blockchains, however, requires a reliable application to handgrip the currency telephone commutation processing at the boundaries betwixt the Blockchains, too ensuring transparency inward this procedure has been an ongoing issue.”
According to the company, the payments applied scientific discipline tin give notice resolve the issues surrounding such transactions past times inter-connecting multiple Blockchains too execute a unmarried transaction procedure that tin give notice hold out automatically executed.
Part of Fujitsu’s description of its novel production reads:
"Fujitsu Laboratories has instantly developed an extension of smart contract applied scientific discipline which inter-connects multiple Blockchains past times recording the serial of related transactions on each chain inward a dedicated Blockchain, or a "connection-type chain," to link to the currency telephone commutation into a unmarried transaction procedure that tin give notice hold out automatically executed. It has every 2nd good developed a transaction command applied scientific discipline to synchronize execution timing of the transaction procedure on each chain."
Fujitsu every 2nd good announced that it plans to commercialize the applied scientific discipline starting 2018. However, the fellowship claimed that this volition depend on the results of additional testing too evolution of the product.
"Fujitsu Laboratories volition maintain expanding this applied scientific discipline beyond currency telephone commutation to areas such every 2nd high-trust information exchanges betwixt companies too contract automation, spell every 2nd good continuing to comport trials inward a multifariousness of fields, amongst the destination of commercialization inward financial 2018 too beyond.”
Fujitsu is 1 of the many companies looking to explore the commercial applications of Blockchain technology. Earlier this year, the Japanese tech giant has partnered upward amongst banking associations to explore how Blockchain tin give notice hold out used inward the banking system.
