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Challenge in the evolving blockchain
ConnectionChain
The benefits of ConnectionChain
- Creating new businesses across industries
- Enabling cross-industry data linkage and transactions
- Creation of completely new service business models and economic revitalization
- Improve operational efficiency and ensure transparency
- Automate and streamline transaction processing through multiple blockchain integrations
- Ensure transparency by recording all transaction history in a tamper-proof form
- High interconnectivity
- Supports three or more integrations, including major blockchain platforms and legacy systems
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Technical Summary
Target Industry/Users
Brokerage services targeting industries such as finance, manufacturing and distribution, and the enterprise.
Challenges in Target Industry and Operations
Blockchain is changing the world view of "value". A new economy, the token economy, is being realized through the circulation of not only cryptocurrencies and points, but also intangible values such as non-fungible tokens(Works of art, game items), reduced CO2 emissions, and clean electricity.
We are looking to further develop the token economy (=Token Economy 2.0). Through the integration of economy(i.e., blockchain), we believe it will be possible to link settlement/service delivery and to generate mutual customer referrals between economies.
In realizing Token Economy 2.0, the challenge is to link and exchange various values across industries.
The benefits of ConnectionChain
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Create new businesses across industries
Expand business possibilities through intercompany collaboration that transcends financial, manufacturing, and distribution industries. -
Improve operational efficiency and transparency
Improve the efficiency and transparency of brokerage operations in cooperation between systems that manage assets using blockchain. For example, by linking tokenized securities and fiat currencies for automatic DVP settlement, the intermediary service (physical confirmation) in cross-border securities settlement becomes unnecessary. The DVP settlement trail recorded in the ConnectionChain ledger can be used for auditing and marketing. -
High interconnectivity
Serves as a social infrastructure for value exchange and distribution through Hub-type connections to major blockchain platforms and legacy systems, and processing processes that support data formats in various industries and three or more platforms.
Technical Challenges
The technical challenges for blockchain integration include:
(1) Ensuring consistency of transactions and setting operational rules
Ensuring consistency of processing across multiple blockchains, and flexible setting of operational rules at low cost
(2) Ensuring transparency
Transparency of transactions across the blockchain and transaction trail data
(3) Improving connectivity
Connecting to blockchains with different transaction formats and protocols
Fujitsu's technological Advantage
We believe that the following technologies give us an advantage over other blockchain interoperability technologies.
(1) Multi-scenario function
Operational rule settings such as linkage processing order and exchange rule control can be written in Scenario Script in a format common to blockchains (no source code development required). Ensures consistency of processing between multiple services
(2) Extended smart contract
Process transactions across multiple blockchains as a series of transactions and record transaction results in a blockchain ledger to ensure transparency of transaction execution
(3) Blockchain operation abstraction
The connection functions are componentized (*) and can be connected to various blockchains. Also, it is possible to connect with existing legacy systems using WebAPI to build various services.
(*) Blockchain integration tool: Hyperledger Cacti published in OSS-> Support for Ethereum, Polygon, Corda, Fabric, GoQuorum, etc.
Use Cases
- End users
- Acquire and use currencies and intangible values that circulate in the economy (= blockchain)
- By leveraging the value linkage and exchange services built by ConnectionChain, the value acquired in one economy can be exchanged for the value in another economy
- App Developers
- Business person that build and operate economies based on blockchain can easily build value exchange services by linking with the blockchain of other business person
Case studies
Automating environmental value transactions
ConnectionChain automates the process of issuing and offsetting carbon credits based on greenhouse gas (GHG) emissions reductions. By using ConnectionChain and Fujitsu Data e-TRUST to mediate processes such as calculating emission reductions and absorption, issuing credits, and offsetting, which previously required manual labor, we can perform one-stop processing and provide highly transparent visualization.
- Highly traceable management of actual GHG emissions with Fujitsu Data e-TRUST
- Neutral calculation of emission reduction and absorption, credit issuance, and offset processing through ConnectionChain smart contracts (scenarios)
- Record the results of ConnectionChain processing in a transaction record ledger that is difficult to tamper with to ensure trailability
The stakeholders in this use case and the value provided for them are as follows.
- Credit issuer
- Credit and sell your GHG emissions reductions to promote financing and ESG management
- Credit buyer
- Offsetting purchased credits can offset your GHG emissions reductions and earn the trust of investors and users by meeting certain reduction targets
- Certification Committee
- Reduce human resources costs by automating the process of monitoring GHG emissions -> calculating emissions reductions -> issuing credits with ConnectionChain
You can try out this use case as a demo app from the Fujitsu Research Portal.
Technical Trial
- Demo app: The demo app is available for you to use.
- API: The Web API is available for you to use.
- A Proof of Concept（PoC） is possible.
Related Information
- External presentation
- Other
Documents
| Document Title | Explanation |
|---|---|
| Scenario Script Reference | ConnectionChain Scenario Script Specification |
| Demo App Manual | Environmental Value Trading App Manual |