The new solution is based on a Decentralized Identification (DID) utilising blockchain and was created by Fujitsu Laboratories, a subsidiary of Japanese tech giant Fujitsu. DID is a system in which a third party guarantees the accuracy of a given individual’s identity and personal credentials.
The new digital identity exchange technology enables users to confirm the trustworthiness of the other party, drawing on factors including the status of previous transactions and evaluations by users who had engaged in transactions with the party in question, as part of a decentralised identification system.
Through Fujitsu’s new identity exchange technology, evaluations (e.g. reputation and rating) for each user in a transaction are recorded as a series of transaction data. Data about individuals is shared on the blockchain into a graph structure so that the relationships between users can be understood. A trustworthiness score is attached to each user by weighting factors including how many trusted users evaluate them highly.
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