Mizuho Bank and Credit Card Issuer JCB Launch Blockchain-Based Digital Identity System

Japanese Bank Mizuho Bank and a JCB credit card issuer will launch a digital identification system using blockchain, developed by Fujitsu Laboratories.

The organizers of the pilot project reported, that companies will be able to safely exchange corporate data: names, addresses and other information about employees, which is stored on a cloud platform, created by Fujitsu. The system will take part in the testing of 100 employees Fujitsu Group, And it will last about four months. In recent years Fujitsu, Mizuho Bank and JCB began to show special interest in the blockchain industry.

Fujitsu has been using this technology to create digital identification tools since last year. In July 2019 years Fujitsu presented the technology of exchange of digital identification data, allowing enterprises and individuals to confirm the authenticity of the other parties, to ensure transaction safety. Besides, In February 2019 years Fujitsu, together with Sony, has developed a database on the blockchain to fight documents.

Recall, that at the end of last year, the JCB payment giant announced his intention to introduce a new payment B2B solution on the base of the blockchain. The Paystand electronic payments operator attracted the JCB platform.

Besides, This year, JSB has concluded a partnership agreement with the Techfund technological accelerator to develop a payment system on the blockchain. The Mizuho Financial Group bank holding has previously announced the creation of J-Coin's own stablecoin and the J-Coin Pay payment mobile application.