Fujitsu Laboratories has announced that it is working on the development of a technology for the exchange of digital identities. The system uses blockchain, and must prove the user’s reputation and improve confidence in validating a user.
With the new technology, according to Fujitsu, it is possible for individual users and service providers involved in online transactions to confirm the identity of the other party, writes ZDNet.
The technology has been developed on the basis of Decentralized Identification (DID), which is a system whereby a third party guarantees the accuracy of an individual’s identity and personal credentials. It also uses blockchain which, according to Fujitsu, analyses the risk of counterfeiting and increases the reliability of personal credentials during an online transaction.
The technology achieves all of this through a joint evaluation of the users when a transaction takes place. The relationship between users is also determined on the basis of past transaction data.
Assessing Reliability
The evaluations of each user in a transaction are recorded as a series of transaction data. The system then converts this data into a chart structure. Each user receives a reliability score based on factors such as how many reliable users give this individual a good evaluation.
If a user cooperates with a third party to increase his evaluation in the wrong way, the relationships structured as graphs show information that can be used to discover wrong representations. For example, it concerns information about the weakness of their relations with other users.
Not all information is required for the verification. Only part of the relevant information is required, eliminating the need for users to share unnecessary personal information for a secure and reliable transaction.
Further development
Fujitsu says it will continue to develop the technology as a reliability-based service platform that supports digital businesses. For this purpose, tests are carried out in various sectors, starting with the financial industry.
The company also wants to implement the technology during the fiscal year 2019 as a new functionality in its Intelligent Data Service Virtuora DX Data Distribution and Utilization Service. This is a cloud-based solution for the use of data that is driven by blockchain technology.
This news article was automatically translated from Dutch to give Techzine.eu a head start. All news articles after September 1, 2019 are written in native English and NOT translated. All our background stories are written in native English as well. For more information read our launch article.
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