The two companies have been working together since 2022 on a joint project to create an environmental value distribution platform. The platform is able to convert CO2 emissions reductions calculated using data collected at IHI's IoT platform, ILIPS, into tokens that can be distributed on the environmental value exchange market using Fujitsu's blockchain technology, ConnectionChain. The main goal of the project is to contribute to carbon neutrality and create an environmental value distribution platform that supports environmental value transactions.
In June 2023, the two companies started working on a J-Credit Easy Generation system that simplifies the environmental value creation process. The process involves the collection, verification, and reporting of data such as CO2 emissions in preparation for the J-Credit issuance. J-Credit is a system used by the national government to certify the amount of greenhouse gases reduced or absorbed as credits.
The environmental value distribution platform can benefit from the addition of J-Credit Easy Generation by making it easier for companies and organisations that contribute to the environment through measures like reducing CO2 emissions to convert environmental value into J-Credits.
By leveraging IoT and blockchain technology, the J-Credit Easy Generation demonstration project can simplify the process of monitoring and issuing J-Credits. The planning and discussion points for the demonstration, as well as the technical requirements for the system’s construction will be analysed from June 2023 to August 2023, while the system construction and demonstration, as well as a report for the demonstration results will be put together between September 2023 and December 2023.
From January 2024 to March 2024, the project will make final adjustments and prepare for the actual implementation of the J-Credit Easy Generation system.
In February 2023, Fujitsu joined other Japanese tech firms to support Japan’s Web3 strategy. The companies agreed to work together to create the infrastructure for an open metaverse and support the country’s Web3 strategy. Fujitsu revealed that it will work with nine other companies to put together an interoperable metaverse structure called RYUGUKOKU (TBD). This structure will be used to expand the Japan Metaverse Economic Zone.
The project is also supported by automobile manufacturer Mitsubishi and global bank Mizuho. The end goal is to put together a framework that can be used by corporations for Web3 marketing, with RYUGUKOKU (TBD) acting as a virtual world that links users to various Web3 services created by companies and government agencies.
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