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Mizuho Bank and JCB Which is a Japanese Payments Company, Are Testing Blockchain-based ID

Fujitsu has been operating on blockchain-based digital identification tools at least since 2019.

Important business companies in Japan are going into the blockchain to speed up digital identity methods.

Mizuho Bank, which is Japan’s third-biggest bank and restricted payment monster JCB, are planning to run a digital identity interoperability system based on blockchain technology. Fujitsu published that the unique system will use a blockchain solution produced by Fujitsu Laboratories.

The new mutual initiative will let the firms to establish mechanisms to safely transfer and link customer ID data by various market operators. This information holds names, locations, and employers collected on a cloud platform developed by Fujitsu. The pilot will also include 100 Fujitsu Group workers. The pilot is supposed to last for at least four months.

Fujitsu, Mizuho Bank, and JCB-  All three firms have shown some interest in the blockchain business lately.

Since 2019 Fujitsu has been using blockchain tech to use digital identification control tools. Fujitsu Laboratories presented its blockchain-based solution for assessing user credential character and loyalty in online transactions in July 2019. Reportedly the tool lets users allow every member a “trustworthiness score” based on user ranks saved on a blockchain.

JCB- Japan’s best credit card issuer — published methods to use a new financial-to-business payment solution based on blockchain in late 2019. To improve the platform, the business partnered with blockchain-based marketing-payments platform PayStand.

JCB also is also working together with technology accelerator Techfund to create a sustainable transaction operation on the blockchain in May.

Mizuho Financial Group also published plans to start a digital currency platform for payments and transmittal services in February 2019.

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