Home / Crypto News / Fujitsu Laboratories Announces Service to Confirm Online Trading Partner Credit Information Using Blockchain

Fujitsu Laboratories Announces Service to Confirm Online Trading Partner Credit Information Using Blockchain

Fujitsu Laboratories announced on the 4th this month a technology ” IDYX ( IDentitY eXchange ) ” that can check the accuracy of trading partners’ creditworthiness and personal information online.

In recent years, the company has identified the issue of determining the user’s reliability and information spoofing in mainstream sharing services and matching services, etc., and has developed a service that can confirm the reliability of trading partners in advance using blockchain technology. It is explained that.

IDYX creates a database by storing user-to-user evaluation data generated for each transaction as transaction data in a non- tamperable block chain.

The collected data is then converted into a graph structure to be an indicator of creditworthiness. Confidence scores are based on items such as how many users are rated and how highly trusted users are rated.

Even if evaluations have been obtained fraudulently with multiple accounts etc., it can be determined as fraud by checking the relationship with other users, and a reliable database can be constructed.

The information provided to users is considered to be a part of necessary personal information to prevent the risk of information leakage.

By introducing IDYX , which visualizes the credibility of trading partners, Fujitsu Laboratories believes that individuals and companies can safely proceed with online transactions that are rapidly developing in recent years.

Article Source : Fujitsu Laboratories

Author: kaz 【Coin Desk News】 – Source Post: http://festyy.com/w2ckVf

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