Hitachi Developed the Hitachi Electronic Signature Service that Promotes to Eliminate Personal …

JCN Newswire

2021-03-03

TOKYO, Mar 3, 2021 – (JCN Newswire) – Hitachi, Ltd. has announced that it has developed the Hitachi Electronic Signature Service, which implements secure electronic contracts based on blockchain (distributed ledger) technology. The Service digitizes the signatures and seals of paper documents such as contracts exchanged between companies, and promotes to eliminate personal seals. The use of blockchain guarantees the authenticity of signature information and improves resistance to data tampering. The Service provides stable system operation by using the Hitachi Blockchain Service for Hyperledger Fabric for its blockchain platform. The Hitachi Blockchain Service for Hyperledger Fabric is suitable for transactions between multiple corporations and has also been used for traceability systems in inter-company supply chains. The Service will contribute to the establishment of a new sustainable way of working in the age of the New Normal with supporting remote working, operational efficiency and cost reduction.

Hitachi started to operate the Service at the Procurement Department at its head office as of March 2021. After reflecting the feedback in the Service, we will launch sales to corporations in Japan after July 2021. In the future, we plan to roll out to global corporations with a focus on North America. Further, the whole Hitachi Group systematizes and sells a wide range of radical know-how and technology as a service to support new workstyle in the New Normal. We also plan to include the Service in this lineup.

At present, the introduction of remote working, including working from home, is expanding rapidly as a measure to control the spread of COVID-19 infections. Many corporations are in the process of setting up the infrastructure environment for flexible working regardless of location. However, at Japanese corporations, in particular, the procedures for affixing signatures and personal seals to paperwork, including contracts exchanged between corporations, have proven to be a major obstacle to remote working. Additionally, binding and mailing original documents, buying and affixing revenue stamps, and storing documents require a lot of time and money. In this situation, there is rising interest in electronic signatures that use digital technologies as an alternative method, but there are issues around security to prevent data tampering by third parties.

At this time, Hitachi has used its IT expertise to develop the Service, which digitizes the procedures for affixing signatures and personal seals. It is a solution that makes it possible to carry out these procedures anytime and anywhere, thus it realizes remote working, operational efficiency, and cost reduction. At the same time, the Service maintains a high level of security thanks to the blockchain technology. Hitachi offers the Service as SaaS (Software as a Service) with integrated functions and operational administration.
The features of the Service are outlined below.

1. High authenticity by recording information trails in the blockchain

When users sign a document in the Service, hash information(1) and time stamp information(2) for the digital data are recorded in the blockchain. Data stored in the blockchain is highly resistant to tampering, and compared to the use of conventional relational databases(3), the authenticity of the data is improved. In addition, the blockchain infrastructure uses Hitachi Blockchain Service for Hyperledger Fabric, the managed cloud service from Hitachi, and provides stable system operation by the experienced Hitachi team. Further, we strive to expedite the development of the Service by using Hitachi’s unique Blockchain System Development Support Service, which has a group of functions including operational templates and development frameworks.

2. Facilitates unified management of documents by linking to other electronic contract services

Generally, when corporations use electronic signatures and contracts, it may be necessary to use several different systems dependent on the services used by the business partner. This Service offers a function for centralized document management that imports signed documents into the Service by connecting to other electronic contract services via an API(4) that facilitates information exchange between different companies. The connected services will be expanded in the future.

3. The ease of use reflects feedback from users

The Service features operations and functions that match commercial practices based on regional characteristics such as sending documents back in case the signature or seal of the other party does not conform to certification, delegate signatures, and customize the approval flow.

4. Prevent identity fraud by linking to Hitachi’s unique biometric identification technology which identifies individuals by their biological information (option)

Hitachi is in the process of developing an optional function to strengthen security by combining blockchain technology with Public Biometric Infrastructure (PBI)(5) that creates private keys using data encryption based on finger veins and other biometric information made available to Hitachi. The technology is expected to apply to areas where strict authentication is necessary such as medical / healthcare /financial fields and public institutions.

Hitachi started to operate the Service at the Procurement Department at its head office as of March 2021. After reflecting the feedback in the Service, we will launch sales to corporations after July 2021. In addition we plan to link the Service with Hitachi’s TWX-21(6) cloud service for transactions between corporations to increase added value, and to provide the Service as a Lumada(7) solution.

(1) Hash information: A value obtained by processing data through a hash function.
(2) Time stamp information: A digital certificate that ascertains the existence of digital data at a certain time.
(3) Relational database: One of the most widely used databases, the relational database is a model that links sets of tabular data with each other.
(4) Application Programming Interface (API): Specifications for accessing software functions and managed data from external programs.
(5) Public Biometric Infrastructure (PBI): A proprietary Hitachi technology that identifies individuals safely and securely by encrypting, registering and matching biological information such as finger veins, faces, or irises.
(6) TWX-21:A cloud service that provides an online platform for inter-company transactions to approximately 71,000 corporate customers as of October 2020. Provides detailed application services related to corporate activity by business, by role, and by user.
(7) Lumada:General name of solution service technology using Hitachi’s advanced digital technology to generate value from customer data and accelerate digital innovation

About Hitachi, Ltd.

Hitachi, Ltd. (TSE: 6501), headquartered in Tokyo, Japan, is focused on its Social Innovation Business that combines information technology (IT), operational technology (OT) and products. The company’s consolidated revenues for fiscal year 2019 (ended March 31, 2020) totaled 8,767.2 billion yen ($80.4 billion), and it employed approximately 301,000 people worldwide. Hitachi drives digital innovation across five sectors – Mobility, Smart Life, Industry, Energy and IT – through Lumada, Hitachi’s advanced digital solutions, services, and technologies for turning data into insights to drive digital innovation. Its purpose is to deliver solutions that increase social, environmental and economic value for its customers. For more information on Hitachi, please visit the company’s website at https://www.hitachi.com.

Copyright 2021 JCN Newswire. All rights reserved. www.jcnnewswire.com

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Sumitomo Mitsui Financial Group Joins the Open Invention Network Community

DURHAM, N.C., June 23, 2020 (GLOBE NEWSWIRE) — Open Invention Network (OIN), the largest patent non-aggression community in history, announced today that Sumitomo Mitsui Financial Group, Inc. (SMFG) has joined as a community member. SMFG is one of the largest financial institutions headquartered in Japan, with an established presence across all consumer and corporate banking businesses. Focused on digital innovation through fintech and open innovation, SMFG harnesses open source technology to meet its clients’ financial needs. By joining OIN, SMFG is demonstrating its commitment to patent non-aggression in open source software (OSS), a key component in its banking platforms and applications.

“The financial services and fintech industries are increasingly relying on open source technologies, including blockchain technologies such as Hyperledger. Global leaders that recognize the benefits of open source technologies are building robust feature-rich platforms to make them more effective for commercial and consumer clients,” said Keith Bergelt, CEO of Open Invention Network. “We are pleased that SMFG has joined our community and committed to patent non-aggression in Linux and adjacent open source technologies.”

SMFG stated, “As a global solutions provider that grows with customers and society through the highest level of trust, SMFG is committed to creating businesses that transcend the boundaries of finance and resolving issues. In order to further promote this effort and quickly deliver high added-value services to our customers and society, SMFG believes that the utilization of open source software will be essential. Also, in promoting OSS utilization, SMFG believes that measures to protect intellectual property rights are important. Through joining the OIN, SMFG hopes to deepen our understanding of the OSS community and contribute to the development of OSS.”

OIN’s community practices patent non-aggression in core Linux and adjacent open source technologies by cross-licensing Linux System patents to one another on a royalty-free basis. Patents owned by OIN are similarly licensed royalty-free to any organization that agrees not to assert its patents against the Linux System. The OIN license can be signed online at http://www.j-oin.net/.

About Hyperledger

Hyperledger is an open source collaborative effort created to advance cross-industry blockchain technologies. It is a global collaboration including leaders in finance, banking, healthcare, supply chains, manufacturing and technology. Hyperledger hosts many enterprise blockchain technology projects including distributed ledger frameworks, smart contract engines, client libraries, graphical interfaces, utility libraries and sample applications. All Hyperledger code is built publicly and available under the Apache license. The Linux Foundation hosts Hyperledger under the foundation. To learn more, visit https://www.hyperledger.org/.

About Sumitomo Mitsui Financial Group, Inc. (SMFG)

SMFG is one of the largest financial institutions headquartered in Japan, with an established presence across all consumer and corporate banking businesses. Through the subsidiaries and affiliates, SMFG offers a diverse range of financial services, including commercial banking, leasing, securities, credit card, consumer finance and other services. SMFG’s consolidated total assets were ¥ 212.4 trillion as of December 31, 2019.

About Sumitomo Mitsui Banking Corporation (SMBC)

SMBC is a commercial banking entity within SMBC Group and is one of the largest commercial banks globally on the basis of total assets. It provides an extensive range of corporate and consumer banking services in Japan and globally.

About Open Invention Network

Open Invention Network (OIN) is the largest patent non-aggression community in history and supports freedom of action in Linux as a key element of open source software (OSS). Patent non-aggression in core technologies is a cultural norm within OSS, so that the litmus test for authentic behavior in the OSS community includes OIN membership. Funded by Google, IBM, NEC, Philips, Sony, SUSE and Toyota, OIN has more than 3,200 community members and owns more than 1,300 global patents and applications. The OIN patent license and member cross-licenses are available royalty-free to any party that joins the OIN community.

For more information, visit http://www.openinventionnetwork.com.

Media-Only Contact:

Ed Schauweker

AVID Public Relations for Open Invention Network

ed@avidpr.com

+1 (703) 963-5238


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Fujitsu : and Accenture Collaboration Accelerates Reliable Blockchain Interoperability

KAWASAKI, Japan, May 15, 2020 – (JCN Newswire) – – Fujitsu Laboratories Ltd. and Fujitsu Laboratories of America Inc. (FLA) today announced that their collaborative endeavor with Accenture was officially approved as the project “Hyperledger Cactus” by Hyperledger, an open source collaborative effort created to advance cross-industry blockchain technologies hosted by the Linux Foundation. The companies had submitted a proposal to the community for the development of an open-source software (OSS) project for secure and reliable integration between multiple blockchains.

Together with Accenture, Fujitsu Laboratories and FLA will utilize the Fujitsu Laboratories’ proprietary security technology ConnectionChain(1) to develop an infrastructure software that enables the easy development of integrated services in which multiple different blockchains work together. The companies have open-sourced the software for Hyperledger Cactus.

“Hyperledger Cactus has moved quickly through the process of becoming a Hyperledger project thanks to the support and initial code contributions of Accenture and Fujitsu and a compelling use case,” said
Brian Behlendorf, executive director of Hyperledger. “There is strong community interest in facilitating the flow of information and transactions across disparate blockchains, and Hyperledger Cactus is tackling that challenge. Now that Hyperledger Cactus is a full Hyperledger project, there will be an even bigger pool of resources and contributors driving this project forward with the aim of delivering market-ready blockchain integration technologies.”

Background and issues

As blockchains are difficult to modify and do not require central management, they are increasingly being used in non-financial areas such as content management and rights management. In a world where real assets are digitized and users directly trade them with each other in various applications that interact with multiple blockchains, a player is required as a starting point of trust in the interconnection. Accordingly, a common platform to protect the transparency and security of such interconnection was required, which also had a general mechanism that could connect multiple blockchain foundations. In November 2017, Fujitsu Laboratories developed a proprietary security technology ConnectionChain to safely interconnect blockchains with varying implementation methods and objectives. The software for exchanging different private coins was made freely available as an OSS. Under the new project Hyperledger Cactus, Fujitsu Laboratories and FLA will integrate the ConnectionChain technology with Accenture’s Blockchain Integration Framework to jointly develop a platform for interconnecting blockchains and further activate digital transformation.

Overview of Hyperledger Cactus

This project will develop the foundation for a new architecture that will eliminate differences such as the timing of transactions between multiple blockchains, enabling asset transfers and recovery from transaction errors. The new open source technology aims to create a modular, extensible system that will enable integration, communication, operations and transactions between different blockchains.

The companies will also offer a Software Development Kit(2) as an OSS to easily offer services that integrate multiple blockchains for software developers.

For example, by applying the infrastructure of Hyperledger Cactus in car-sharing services, a new service can be created in which a driver can temporarily use a car in exchange for transferring private coins, while linking a car-sharing service blockchain that manages the rights of car usage, with a blockchain handling private coins (Figure 1). Unlike conventional blockchains, which cannot integrate different blockchains or get excess money back from remitted coins, the Hyperledger Cactus framework automatically links different blockchains. Moreover, the technology can monitor the results of such operations, enabling the rapid development of integrated services that combine multiple blockchains.

Future Plans

With Accenture, Fujitsu Laboratories and FLA plan to develop an infrastructure software that will integrate different blockchains to securely and reliably work together while making these now available as OSS for Hyperledger.

(1) ConnectionChain Fujitsu Laboratories’ proprietary security technology that enables safe interconnection between different blockchains and ecosystems via blockchain technology.

(2) SDK (Software Development Kit) Development tools and libraries used by software engineers.

About Fujitsu Laboratories

Founded in 1968 as a wholly owned subsidiary of Fujitsu Limited, Fujitsu Laboratories Ltd. is one of the premier research centers in the world. With a global network of laboratories in Japan, China, the United States and Europe, the organization conducts a wide range of basic and applied research in the areas of Next-generation Services, Computer Servers, Networks, Electronic Devices and Advanced Materials. For more information, please see: http://www.fujitsu.com/jp/group/labs/en/.

About Fujitsu Ltd

Fujitsu is the leading Japanese information and communication technology (ICT) company offering a full range of technology products, solutions and services. Approximately 130,000 Fujitsu people support customers in more than 100 countries. We use our experience and the power of ICT to shape the future of society with our customers. Fujitsu Limited (TSE:6702) reported consolidated revenues of 3.9 trillion yen (US$35 billion) for the fiscal year ended March 31, 2020. For more information, please see www.fujitsu.com.

Contact:

Fujitsu Laboratories Ltd.Security LaboratoryE-mail: cc-press2020@ml.labs.fujitsu.com

Copyright 2020 JCN Newswire . All rights reserved.

© Japan Corporate News, source JCN Press Releases

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ConsenSys Gets Foot In Japan Market Through Hitachi Partnership For PegaSys Plus

CEATEC Japan 2019 Consumer Electronics Show

Photo by Tomohiro Ohsumi/Getty Images)

Getty Images

ConsenSys, a blockchain software company founded by one of the co-founders of Ethereum, has managed to leverage a position into Japan to conduct sales of its blockchain software solutions through a partnership with Hitachi Solutions.

Hitachi Solutions is a core IT company of the Hitachi Group that provides global IT solutions, and will now have access to ConsenSys’s Etheruem-based blockchain software to sell in Japan. The Tokyo-based company will begin by working with ConsenSys to provide PegaSys Plus to the Japanese market. An Ethereum (ETH)-based blockchain platform, PegaSys Plus is a commercial license version of the ConsenSys product offering additional features and support.

The hope with this partnership is that the two companies will be able to develop a host of decentralized applications and to enable trustless and secure transactions with PegaSys Plus. For Hitachi, this represents an opportunity to leverage the ever-popular blockchain ecosystem that is gaining attention as a means of transforming business models in various fields such as financial services, healthcare, supply chain and logistics and retail.

Essentially, this usage of PegaSys Plus will allow users to transact in a trustless and distributed manner. In true a blockchain sense, records will be shared and verified to prevent fraudulent transactions without the need for a centralized third party, reducing costs and enhancing efficiency.

Big in Japan

Japan has always positioned itself as an innovator and leader in the technological space. With blockchain technology becoming more and more popular as a disruptive technology, and one which has vast application for the future, it makes sense for blockchain solutions providers to work within the nation.

ConsenSys founder and CEO Joseph Lubin said of the collaboration between the two companies:

“I’m thrilled to be able to announce the partnership between Hitachi Solutions and ConsenSys. We think Japan has the potential to be one of the fastest-growing blockchain markets in the world over the coming years, and I am eager to drive that growth with Hitachi. We are committed to bringing our stack of products to Japan and working with the best partner possible to make Japan a global leader in the space.”

Competing with JP Morgan

It is also interesting to note that PegaSys Plus is the enterprise version of enterprise blockchain Hyperledger Besu. And Besu is a competitor to JP Morgan’s Quorum, another popular enterprise solution.

Recently, Besu also hit its own important milestone as on March 30, it was announced that the Hyperledger’s Technical Steering Committee (TSC) members voted to graduate the project from incubation to active status.

With this announcement, Hyperledger Besu joins Fabric, Indy, Sawtooth, and Iroha as projects with active status in the Hyperledger greenhouse and the only Ethereum project to be granted active status.

This tie to Ethereum, of course, helps tie the links back to ConsenSys, but also helps accelerate the potential of Ethereum as it continues to fight for a place at the table of enterprise blockchain solutions.

PegaSys Plus incorporates all of Hyperledger Besu features, with some additional elements such as enhanced security configuration and monitoring. Additionally, and quite importantly, the solution is designed for both public as well as private blockchains.

Related:

Wall Street Journal Creates “WSJCoin” to Educate the Crypto Curious

On October 3, 2018, Steven Russolillo of The Wall Street Journal published a mini-documentary in which he created the “WSJCoin,” in an attempt to gain a better understanding of the inner workings of cryptocurrencies and blockchain technology. He was so successful in fact that the cryptocurrency was shut down by the publication’s ethics manager after WSJCoin was pitched to investors.

Trip to Japan to Learn from the Best

With cryptocurrency quickly capturing the attention of mainstream news outlets, many traditional news establishments are scrambling to grasp at an understanding of the emerging technology. The 30-minute video by The Wall Street Journal follows the journey of Russolilio as he goes to Japan, a country that openly embraces bitcoin and similar altcoins not only at the government level but culturally as well.

In Japan, Russolilio meets with several individuals. Two notable individuals include a 21-year-old that dropped out of university to focus on his expanding mining facility for the hardware to run a blockchain and developer Makoto Takemiya who is responsible for actually coding WSJCoin.

WSJCoin’s blockchain of choice was Hyperledger’s Iroha, but in the video, Russolillo describes the Hyperledger and IROHA as two separate platforms. It should be noted that IROHA is a platform that Hyperledger has been working on for some time.

With Takemiya’s help, Russolillo decides the coin supply will be 8.4 billion, which is the average coin supply of the top ten cryptocurrencies by market capitalization. Russolillo also decides instead of allowing each coin to be divisible by eight like in Bitcoin, to limit division to just 2. Takemiya also made this suggestion as people are used to dollars and cents, which are also only divisible to the second decimal point.

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WSJCoin’s journey continues to include paying for two beers with two coins, as well as talking to DMM Bitcoin’s President Hitoshi Taguchi about the importance of creating crypto payment systems for users to use the cryptocurrency in real-world applications.

Things Get Physical – and Ethical

Fast forward a couple of minutes in the video and Russolio goes to Hong Kong, where he pitches the WSJCoin at The Wall Street Journal’s annual tech conference and has even printed physical coins for the occasion.

Bitpesa’s CEO Elizabeth Rossiello and Ripple’s former CTO Stefan Thomas were in attendance and relative fans of the concept. Rossiello and Thomas both believe there is a place for a journalism-based cryptocurrency, as the news business has been struggling with finding a viable revenue system since it mostly went digital.

Rossiello reminds that American media paywalls sometimes deny her credit card if it’s from overseas, impeding the purpose of trying to inform a global audience.

Despite the success up until this point, the documentary and WSJCoin face their ending when Neal Lipschutz, who oversees Ethics & Standards at the Wall Street Journal, said this to Russolilio:

“We’re not in the business of getting in the cryptocurrency world. We’re here to report it and explain it, just like we report on banks we don’t go out and start a bank. We’re not going to create a currency.”

Despite the abrupt ending of the journey, all parties involved learned a lot about what goes into a cryptocurrency. Despite all the resources now available, the best way to learn about crypto is perhaps to be directly engaged with it.

Related:

The Devil is in the Detail – Matching the Right Technology to the Right Employee

Niloy Mukherjee, Vice President, Product Marketing, APJ, Client Solutions at Dell



The right technology has the ability to empower workers to make the most out of their day. Advances in technology are on par with the demands and expectations of the workplace but the adoption of these technologies is in fact still rather slow. Gone are the days where employees willingly chain themselves to their desk from 9.00 a.m. to 5.00 p.m. Now, armed with the latest technology, the modern worker has the choice to venture out of his or her office at any given time and continue working without issue – and enterprises need to be able to meet this growing demand to attract the best and the brightest to join their ranks.



Of course, there are challenges: six in 10 enterprise leaders in the Asia Pacific and Japan (APJ) region are struggling to keep up with the pace of change according to the latest Realizing 2030: A Divided Vision of the Future research. For employees, there are high expectations: according to the CIO Connected study, 84% of employees stated that technology influences which job offer they accept. With 60% of the world’s millennials living in APJ, we will soon see more and more millennials joining the workforce in the coming years – so we have to address the question – how are we leveraging technology to prepare for the future?



Adopt user-oriented technology that fits with work habits



Implementing technology with a user-first approach is integral to truly enhancing your organisation’s competitive advantage. For employees working on-the-go, the design of a laptop should not only be focusing on aesthetic appeal alone – if the laptop has a large footprint, it would be difficult to work in confined spaces such as an aeroplane tray table. If it’s a smaller screen device, that was bought a few years back, its battery would definitely not be able to last a day trip. Such factors make it imperative for us to match user habits to equipment functionality when looking for the optimal workplace technology for your employees.



Moreover, it is also crucial to match users to devices based on their needs, rather than factors like job titles or seniority. Considerations must include working style, requirements of their roles, and the complexity of their jobs. For instance, a sales director would require a smaller, lightweight laptop with longer battery life for offsite meetings, while a “big data” analyst may require a 15-inch laptop with higher computing power and monitor docking options to edit and run complex documents. Using this approach, employees can be matched easily with the right technologies according to their needs and working habits, better-enhancing efficiency and improving productivity.



Drive synergy through stronger collaboration



Though it seems easy to adopt workplace technologies with a user-oriented approach, it is often easier said than done. Assessing user habits alone is a rather daunting task as it calls for closer collaboration between different functions in the business. While IT makes the purchasing decisions for technological products, it is other departments like Human Resources (HR) who are often privy to employee habits and needs. Hence, it would be important for the HR team and other departments to develop effective processes to work closely with IT to ensure user roles and business needs are taken into consideration during IT purchases. Such processes would include regular review of workplace technology and timely updates on changes in business needs.



Enable flexibility in working hours



In addition to technology, we also have to evaluate policies that support a fully remote and flexible workforce. Almost nine in 10 APJ leaders surveyed through Realizing 2030 research believe that this is a crucial component impacting digital transformation at the workplace. Working remotely brings about benefits like saving time on commuting, providing better care for dependents, or achieving healthier work-life balance. In the Realizing 2030 research, half of the business leaders in APJ expect to have a more globally connected yet remote workforce by 2030.



In fact, many of the younger employees value the balance of productivity and quality of life, with almost half of them believing that automated systems will help to free up their time and increase their job satisfaction through offloading undesired tasks to machines, according to Realizing 2030 research. In APJ, there have been a number of public and private sector initiatives that recognise the benefits of remote, flexible work arrangements, such as the Tripartite Standards on Flexible Work Arrangements led by Ministry of Manpower in Singapore and the national “Telework Day” campaign launched by the Ministry of Economy, Trade and Industry in Japan. This flexibility will be achieved by equipping your employees with technology that provides them with access.



In this digital era, organisations have to adopt a holistic and collaborative approach to fully leverage technology and improve on job satisfaction amongst their workforce – all eventually helping the enterprise to improve their productivity and bottom line. IT, HR and other business unit leaders must work together to ensure that the technologies complement working practices and are a positive draw for new employees with different technology expectations. Taking these steps towards achieving workplace transformation will go a long way in setting your enterprise up for success till 2030 and beyond.

Related:

Big Blockchain: The 50 Largest Public Companies Exploring Blockchain

There’s more than one way to gain exposure to blockchain innovation. Beyond buying over-the-counter products or investing directly in blockchain startups some of the largest public companies in the world are already dabbling in the tech. In fact, a closer look at this year’s Forbes Global 2000 list of the largest public companies in the world reveals that not only are all ten of the largest public companies in the world exploring blockchain, but at least 50 of the biggest names on the list have all made their own mark on technology first inspired by bitcoin.

(Stuart Ramson/AP Images for American Express)

(Stuart Ramson/AP Images for American Express)

50) American Express Company [Ticker symbol: AXP]

Location: United States

Sales: $37.65 billion

Blockchain Play: Ranked number 119 on the Global 2000, this credit giant is testing a way to use blockchain to give vendors more power over membership rewards.

(Photo by Dominik Bindl/Getty Images)

(Photo by Dominik Bindl/Getty Images)

49) Banco Bilbao Vizcaya Argentaria, S.A. [550190]

Location: Spain

Sales: $29.24 billion

Blockchain Play: The bank ranked number 116 on the Global 2000, has announced it closed a €75 million corporate loan using both ethereum and Hyperledger Fabric.

(AP Photo/Koji Sasahara)

(AP Photo/Koji Sasahara)

48) Mizuho Financial Group [8411]

Location: Japan

Sales: $29.73 billion

Blockchain Play: An early leader in a wide range of blockchain projects, the 114th largest company on the Global 2000 took a hit this year when its head of blockchain left, according to a CoinDesk report .

Photographer: Carla Gottgens/Bloomberg

Photographer: Carla Gottgens/Bloomberg

47) BHP Billiton Limited [614469]

Location: Australia

Sales: $41.23 billion

Blockchain Play: Often called the world’s largest mining company, the 108th largest firm on this year’s Global 2000 list is exploring how blockchain can improve its supply chain.

(AP Photo/Noah Berger)

(AP Photo/Noah Berger)

46) Oracle Corporation [ORCL]

Location: United States

Sales: $39.47 billion

Blockchain Play: Since joining Hyperledger Fabric in 2017, the 107th largest company on this year’s Global 2000 list has been preparing to launch its own enterprise blockchain platform.

AP Photo/Mark Schiefelbein

AP Photo/Mark Schiefelbein

45) Tencent Holdings Ltd [BMMV2K]

Location: China

Sales: $35.27 billion

Blockchain Play: Earlier this year, the company ranked 105 on the Global 2000, announced work with the Shenzhen State Taxation Bureau to explore blockchain and taxes.

Photo credit should read ANTONY DICKSON/AFP/Getty Images

Photo credit should read ANTONY DICKSON/AFP/Getty Images

44) AIA Group [B4TX8S]

Location: Hong Kong

Sales: $31.92 billion

Blockchain Play: Ranked 93 on the Global 2000, the insurance giant last year revealed a bancainsurance platform using Hyperledger Fabric, and now runs its own blockchain accelerator.

AP Photo/Ng Han Guan

AP Photo/Ng Han Guan

43) Alibaba Group Holding Ltd. [BABA]

Location: China

Sales: $37.87 billion

Blockchain Play: Ranked number 81 on the Global 2000, this ecommerce giant has piloted a food supply chain and plans to invest part of a $14 billion Series A in the tech.

Photographer: Michael Nagle/Bloomberg

Photographer: Michael Nagle/Bloomberg

42) MetLife, Inc. [MET]

Location: United States

Sales: $64.08 billion

Blockchain Play: The insurance giant ranked number 78 on the Global 2000 has partnered with IBM and insurance tech company Majesco, to build a blockchain platform for insurance.

Photo by Alexander Koerner/Getty Images

Photo by Alexander Koerner/Getty Images

41) Facebook, Inc. [FB]

Location: United States

Sales: $44.59 billion

Blockchain Play: The CEO of the 77th largest company on the Forbes Global 2000 list, Mark Zuckerberg, has explained his company plans to explore blockchain in a number of use cases.

Photographer: Victor J. Blue/Bloomberg

Photographer: Victor J. Blue/Bloomberg

40) Prudential Financial [PRU]

Location: United States

Sales: $61.13 billion

Blockchain Play: Largely working behind the scenes, the financial giant ranked number 73 on the Global 2000 and is a backer of influential Digital Currency Group.

Photographer: Michael Nagle/Bloomberg

Photographer: Michael Nagle/Bloomberg

39) Walt Disney Company [DIS]

Location: United States

Sales: $56.83 billion

Blockchain Play: After the entertainment giant shelved an internal blockchain solution, Dragonchain, employees spun-off their own startup to commercialize the platform.

Photographer: Michael Nagle/Bloomberg

Photographer: Michael Nagle/Bloomberg

38) IBM [IBM]

Location: United States

Sales: $80.06 billion

Blockchain Play: The computer giant ranked number 67 on the Global 2000 has open-sourced the widely used Hyperledger Fabric and is a driving force behind multiple blockchain initiatives.

Photographer: Luke Sharrett/Bloomberg

Photographer: Luke Sharrett/Bloomberg

37) Ford Motor Company [F]

Location: United States

Sales: $159.59 billion

Blockchain Play: The auto giant that ranked number 67 on the Global 2000 co-launched a blockchain research group for the auto industry, and was granted a patent for controlling traffic flow.

Photographer: Suzanne Plunkett/Bloomberg News

Photographer: Suzanne Plunkett/Bloomberg News

36) Prudential [70995]

Location: United Kingdom

Sales: $111.48 billion

Blockchain Play: The company ranked number 66 on the Global 2000 has partnered with Singapore telecom firm StarHub to launch a blockchain-based trade platform for small businesses.

Photographer: Alessia Pierdomenico/Bloomberg

Photographer: Alessia Pierdomenico/Bloomberg

35) Intesa Sanpaolo S.p.A. [407683]

Location: Italy

Sales: $42.52 billion

Blockchain Play: Ranked number 61 on the Global 2000, this Italian bank has been a leader in using public blockchains, including bitcoin to timestamp records and ethereum for derivatives.

AP Photo/Richard Drew, File

AP Photo/Richard Drew, File

34) Goldman Sachs Group Inc. [GS]

Location: United States

Sales: $43.69 billion

Blockchain Play: Ranked number 60 of the Global 2000, the bank has plans to open its own bitcoin trading desk.

Photo by Omar Marques/SOPA Images/LightRocket via Getty Images

Photo by Omar Marques/SOPA Images/LightRocket via Getty Images

33) ING Group [BZ5739]

Location: Netherlands

Sales: $56.58 billion

Blockchain Play: Ranked number 56 on the Global 2000, ING Group has open-sourced software solutions designed to help protect a user’s identity.

Photographer: Bartek Sadowski/Bloomberg

Photographer: Bartek Sadowski/Bloomberg

32) Amazon.com Inc. [AMZN]

Location: United States

Sales: $193.19 billion

Blockchain Play: This ecommerce giant ranked number 53 on the Global 2000, offers cloud integrations for a number of blockchains and recently partnered with ethereum startup ConsenSys.

Photo by Alexander Pohl/NurPhoto via Getty Images

Photo by Alexander Pohl/NurPhoto via Getty Images

31) Siemens AG [572797]

Location: Germany

Sales: $94.47 billion

Blockchain Play: This industrial giant ranked number 51 on the Global 2000 and has invested in LO3, a blockchain energy startup working to help neighbors buy and sell solar power directly from each other.

Photo by Logan Bowles/PGA Tour

Photo by Logan Bowles/PGA Tour

30) Morgan Stanley [MS]

Location: United States

Sales: $45.59 billion

Blockchain Play: In spite of clearing bitcoin futures contracts for its customers, the number 50 company on the Global 2000 also issued a report on the negative impacts of bitcoin mining on the environment.

Photo by Alexander Koerner/Getty Images

Photo by Alexander Koerner/Getty Images

29) Intel Corporation [INTC]

Location: United States

Sales: $64.03 billion

Blockchain Play: Since contributing blockchain platform Sawtooth to the Hyperledger consortium, the computer giant ranked number 49 on the Global 2000, has focused on how hardware can help blockchain.

Photographer: Stefan Wermuth/Bloomberg

Photographer: Stefan Wermuth/Bloomberg

28) Nestle [712387]

Location: Switzerland

Sales: 91.23 billion

Blockchain Play: The Swiss food-giant ranked number 48 on this year’s Global 2000 and is now part of a consortium working with IBM to remove unnecessary middlemen from the way they ship goods.

Photographer: Andrey Rudakov/Bloomberg

Photographer: Andrey Rudakov/Bloomberg

27) Sberbank Russia [476798]

Location: Russia

Sales: $46.33 billion

Blockchain Play: The 47th largest public company according to the Global 2000, launched a blockchain lab in 2017 and is working with Russia’s securities depository to explore blockchain corporate bonds.

Photographer: Michael Nagle/Bloomberg

Photographer: Michael Nagle/Bloomberg

26) Pfizer [PFE]

Location: United States

Sales: $52.67 billion

Blockchain Play: Ranked number 44 on the Global 2000, this pharmaceutical giant is in the early stages of a project with Chronicled, a blockchain startup for supply chains.

Photographer: Cole Burston/Bloomberg

Photographer: Cole Burston/Bloomberg

25) Royal Bank of Canada [RY]

Location: Canada

Sales: $40.49

Blockchain Play: In addition to exploring a number of blockchain solutions, the bank ranked number 42 on the Forbes Global 2000, earlier this year registered a patent for automating credit scores.

Photographer: Vincent Mundy/Bloomberg

Photographer: Vincent Mundy/Bloomberg

24) Anheuser-Busch InBev [ABI-BE]

Location: Belgium

Sales: $56.36 billion

Blockchain Play: Number 42 on the Global 2000, the maker of Budweiser has announced work on a blockchain platform aimed at simplifying freight logistics.

Photographer: Akio Kon/Bloomberg

Photographer: Akio Kon/Bloomberg

23) Mitsubishi UFJ Financial Group [8306]

Location: Japan

Sales: $51.76 billion

Blockchain Play: Ranked number 37 on the Global 2000, MUFJ joined the Ripple payments network in 2017, and plans to co-launch its own blockchain solution next year.

Photographer: Charles Mostoller/Bloomberg

Photographer: Charles Mostoller/Bloomberg

22) Comcast Corporation [CMCSA]

Location: United States

Sales: $86.85 billion

Blockchain Play: The telecommunications giant that ranked number 34 of the Global 2000, backs Boldstart Ventures, which invests in enterprise blockchain startups.

Photographer: Christophe Morin/Bloomberg

Photographer: Christophe Morin/Bloomberg

21) AXA Group

Location: France

Sales: $149.9 billion

Blockchain Play: Ranked number 33 on the Global 2000, this insurance giant launched its ‘Fizzy’ smart contract platform using ethereum to automatically execute flight insurance payments.

Photographer: Angel Navarrete/Bloomberg

Photographer: Angel Navarrete/Bloomberg

20) Banco Santander [570594]

Location: Spain

Sales: $56.07 billion

Blockchain Play: The 31st largest public company on this year’s Global 2000 list has invested in Ripple and Digital Asset Holdings, and launched a payments app using Ripple technology.

Photo by Roberto Machado Noa/LightRocket via Getty Images

Photo by Roberto Machado Noa/LightRocket via Getty Images

19) Daimler AG [552902]

Location: Germany

Sales: $193.22 billion

Blockchain Play: Since last year issuing at €100 million corporate bond using ethereum, the maker of Mercedez-Benz, ranked number 29 on the Global 2000 list, has begun testing its own cryptocurrency.

AP Photo/Richard Drew

AP Photo/Richard Drew

18) Walmart [WMT]

Location: United States

Sales: $500.34 billion

Blockchain Play: Since an early prototype to use Hyperledger Fabric on the pork supply chain, the global grocer that ranked 24 on the Global 2000, has expanded its blockchain work to other supply chains.

AP Photo/Mark Lennihan

AP Photo/Mark Lennihan

17) Alphabet Inc. [GOOGL]

Location: United States

Sales: $117.88 billion

Blockchain Play: In addition to a number of blockchain investments, the search giant that ranked number 23 on this year’s Global 2000 list is reportedly working on its own blockchain projects.

Photographer: Martin Leissl/Bloomberg

Photographer: Martin Leissl/Bloomberg

16) Allianz SE [523148]

Location: Germany

Sales: $122.55 billion

Blockchain Play: In addition to building a prototype for “self-insurance,” the insurance giant that ranked number 22 on the Global 2000 is reportedly exploring a token for moving value.

Photo by Mikhail TereshchenkoTASS via Getty Images

Photo by Mikhail TereshchenkoTASS via Getty Images

15) Microsoft Corporation [MSFT]

Location: United States

Sales: $103.31 billion

Blockchain Play: Ranked number 20 on the Global 2000, the software giant was among the first to monetize blockchain services, and now works with a number of blockchains via it’s Azure platform.

Photographer: Christophe Morin/Bloomberg

Photographer: Christophe Morin/Bloomberg

14) BNP Paribas SA [730968]

Location: France

Sales: $117.77 billion

Blockchain Play: Ranked number 19 on the Global 2000, this French bank is working with “Big Four” accounting firm, EY, to use blockchain for its internal treasury operations.

AP Photo/Ahn Young-joon, File

AP Photo/Ahn Young-joon, File

13) Samsung Electronics Co. [677172]

Location: South Korea

Sales: $224.64 billion

Blockchain Play: Ranked number 14 on the Global 2000, this electronics giant last year announced its Nexledger platform for tracking global supply chains.

Photo by Smith Collection/Gado/Getty Images

Photo by Smith Collection/Gado/Getty Images

12) Toyota Motor Corp. [7203]

Location: Japan

Sales: $265.17 billion

Blockchain Play: A founding member of the Blockchain Mobility Consortium, this manufacturing giant is exploring how blockchain payments could enable self-driving cars.

Photographer: Andrey Rudakov/Bloomberg

Photographer: Andrey Rudakov/Bloomberg

11) Royal Dutch Shell Plc. [B03MM4]

Location: Netherlands

Sales: $321.77 billion

Blockchain Play: An investor in blockchain development firm, Applied Blockchain, this oil giant is also working with BP to create an energy commodities platform.

AP Photo/Eugene Hoshiko

AP Photo/Eugene Hoshiko

10) Ping An Insurance Company [B01FLR]

Location: China

Sales: $141.62 billion

Blockchain Play: In addition to being a member of distributed ledger group, R3, this insurance giant works with other insurance firms to explore blockchain.

AP Photo/Mark Schiefelbein

AP Photo/Mark Schiefelbein

9) Bank of China Ltd. [B15456]

Location: China

Sales: $118.15 billion

Blockchain Play: The Chinese bank has partnered with tech giant Tencent to test financial applications of blockchain technology, according to a CoinDesk report, and has filed a number of related patents.

Photo by Emmanuele Contini/NurPhoto via Getty Images

Photo by Emmanuele Contini/NurPhoto via Getty Images

8) Apple Inc. [AAPL]

Location: United States

Sales: $247.53 billion

Blockchain Play: The computer giant has filed a patent for using blockchain technology to timestamp data.

Photographer: Patrick T. Fallon/Bloomberg

Photographer: Patrick T. Fallon/Bloomberg

7) Wells Fargo & Company [WFC]

Location: United States

Sales: $102.06 billion

Blockchain Play: As part of being an early member of distributed ledger consortium R3, this bank is helping build a simpler way to track securitized home mortgages.

Photo credit should read HECTOR RETAMAL/AFP/Getty Images

Photo credit should read HECTOR RETAMAL/AFP/Getty Images

6) Bank of America [BAC]

Location: United States

Sales: $102.98 billion

Blockchain Play: One of the most prolific patenters of blockchain technology, this banking giant is working to automate the process of creating letters of credit using the ethereum blockchain.

Photo by S3studio/Getty Images

Photo by S3studio/Getty Images

5) Agricultural Bank of China [B60LZR]

Location: China

Sales: $129.34 billion

Blockchain Play: The state-owned bank is working on a decentralized network to offer unsecured agricultural loans to e-commerce merchants.

Photo by Smith Collection/Gado/Getty Images

Photo by Smith Collection/Gado/Getty Images

4) Berkshire Hathaway Inc. [BRK.B]

Location: United States

Sales: $235.16 billion

Blockchain Play: Berkshire subsidiary BNSF railroad and fine jewelry subsidiary Richline Group are exploring blockchain to streamline their supply chains.

Photo by Erik McGregor/Pacific Press/LightRocket via Getty Images

Photo by Erik McGregor/Pacific Press/LightRocket via Getty Images

3) JPMorgan Chase & Co. [JPM]

Location: United States

Sales: $118.18 billion

Blockchain Play: Since contributing blockchain platform Quorum to the open-source community a number of developers have expressed interest, including information giant IHS Markit.

Photo by S3studio/Getty Images

Photo by S3studio/Getty Images

2) China Construction Bank Corporation [B0LMTQ]

Location: China

Sales: 143.2 billion

Blockchain Play: CCB is using the IBM Blockchain platform to streamline the way banks and insurance companies jointly sell some of their financial products.

Photo by Unkel/ullstein bild via Getty Images

Photo by Unkel/ullstein bild via Getty Images

1) Industrial and Commercial Bank of China [B1G1QD]

Location: China

Sales: $165 billion

Blockchain Play: A patent filed by ICBC describes a way to use blockchain technology to verify digital certificates instead of a trusted central authority.

Related:

North Korea hacker spy group ‘Reaper’ prepares to step up cyber attacks on US

Until 2017, the regime concentrated on South Korea and its government, military defence, industrial base and media sector.

However, last year it expanded to include Japan, Vietnam and the Middle East, plus a wider range of industries encompassing chemicals, electronics, manufacturing, aerospace and the health sector.

Related:

Blockchain Trial Started By Japan Net Bank

Blockchain Trial Started By Japan Net Bank

Announcements, Blockchain | February 7, 2018 br>By:

Japan Net Bank, the country’s first online bank, has teamed with FinTech firm Tech Bureau to test blockchain technology integrations using Mijin and Hyperledger Fabric.

Founded in 2000, Japan Net Bank provides commercial banking services via Internet in Japan. It offers ordinary deposit, term deposit, money transfer, consumer loan, cash card, and credit card services through various access channels.

According to Tech Bureau, Japan Net Bank has initiated a proof-of-concept project (PoC) to evaluate Mijin and Hyperledger for paperless contract administration.

Developed by Tech Bureau, mijin aims to meet versatile enterprise needs with its enhanced private blockchain utilizing Singapore-based NEM.io Foundation’s NEM protocol. The mijin blockchain was chosen for this proof-of-concept as it is suited to a wide range or applications, enables secure access and features a user-friendly back-end. Mijin also encrypts hashes and user signatures, affixing a time stamp that is accurate down to the second for each transaction and coded into the blockchain.

Hyperledger Fabric is a blockchain framework implementation and one of the Hyperledger projects hosted by The Linux Foundation. Intended as a foundation for developing applications or solutions with a modular architecture, Hyperledger Fabric allows components, such as consensus and membership services, to be plug-and-play. Hyperledger Fabric leverages container technology to host smart contracts called “chaincode” that comprise the application logic of the system.

Tech Bureau said Japan Net Bank aims to create an unfalsifiable ledger of file views, edits, approvals, and rejections to massively improve contract drafting. The bank will create a link between Mijin and Hyperledger, with data logged on both blockchains. If one blockchain fails, data will ideally remain secured and a system administrator can view the history of actions on either blockchain, thereby helping Japan Net Bank to evaluate scalability and security of deploying this technology.

The PoC project started on February 6 and is scheduled to be completed with a project review meeting on March 30.

Related:

Japan Net Bank And Fujitsu Trial Blockchain With Mijin And Hyperledger

Japan Net Bank And Fujitsu Trial Blockchain With Mijin And Hyperledger
Image credit: Tokyo, Japan by Perati Komson via Shutterstock.com

Japanese blockchain startup Tech Bureau has announced that Japan Net Bank and Fujitsu are testing blockchain technology integrations using Mijin, Tech Bureau’s private blockchain platform utilizing the NEM protocol, and the Hyperledger platform.

The proof-of-concept project will focus on assessing the practicality of using blockchain technology for a paperless system for contract administration. It is scheduled to be completed by the end of March 2018.

Typically, when two parties aim to formalize an agreement with a contract, numerous emails, edits to contract files, and sign-offs on paper documents need to be made before an agreement is reached. This leaves room for document falsification, which can be costly.

The pilot project will seek to determine whether blockchain technology could help reduce costs and improve efficiency in the contract drafting process. By integrating blockchain, Japan Net Bank aims to create a tamper-proof ledger of file views, edits, approvals, and rejections to massively improve contract drafting.

In this proof-of-concept, Japan Net Bank using Mijin and Fujitsu using Hyperledger will develop two separate applications on the two blockchain platforms. The overall objective will focus on creating a linkage between the two blockchain platforms.

Both applications will generate hash data from unique information from the contract and register user approvals and rejections. In the event of a blockchain failure, the system administrator would be able to view the history of actions on the other blockchain.

Japan Net Bank And Fujitsu Trial Blockchain
Diagram via mijin.io

Mijin is a licensed version of NEM for private blockchain roll out. The platform was announced in September 2015 by Japanese startup Tech Bureau and is targeted at financial institutions for use in areas such as asset management, payment system, contract system, and more.