Accelerating Social Implementation of Practical Blockchain Solutions.
Japan Blockchain Foundation Co., Ltd. (CEO: Hidekazu Kondo), which operates and manages the business-optimized public chain 'Japan Open Chain, along with G.U.Technologies Inc., a selected Co-Creation Partner in global partner co-creation program 'Fujitsu Accelerator Program' by Fujitsu Limited (Headquarters: Minato-ku, Tokyo; CEO: Takahito Tokita) has initiated proof-of-concept experiments for cross-chain payments using stablecoins on Japan Open Chain. These experiments leverage 'Fujitsu Web3 Acceleration Platform,' and its blockchain integration technology, 'ConnectionChain'.
◽️ Content of the Initiative
In collaboration with Fujitsu, our company will conduct proof-of-concept experiments to enhance the efficiency and security of cross-chain payment technologies, focusing on two key areas:
- Enhancing Interoperability: We aim to improve interoperability between different blockchains, offering users more convenient transaction methods.
- Facilitating Asset and Data Movement: Our goal is to enable the smooth transfer of assets and data across blockchains, fostering more efficient business and financial activities.
Through these initiatives, we seek to explore the value and potential of cross-chain payments, develop innovative use cases, verify technical feasibility, and pursue broader payment applications across various industries. These efforts are geared towards accelerating the practical social implementation of blockchain technology.
◽️ About 'Fujitsu Accelerator Program'
The Fujitsu Accelerator Program is a partner program designed to achieve the early resolution of social issues. It accomplishes this by co-creating use cases on 'Fujitsu Computing as a Service,' a platform that provides easy access to advanced computing and software technologies for a broad audience.
◽️ ’Japan Open Chain’ is a public blockchain optimized for business, emphasizing legal and technical practicality.
▼ Main Features
- Operated safely and securely by Japanese companies.
- Validators that have passed appropriate screening.
- Operations comply with Japanese law, providing a clear legal basis.
- Ethereum fully compatible chain utilizing PoA (Proof of Authority)
- Fully compatible with Ethereum, allowing for the use of Ethereum protocol-developed tools and smart contracts as-is.
- The Proof of Authority (PoA) algorithm strikes a balance between decentralization and scalability, taking into account practical considerations in its design.
- Provides high security performance thanks to adequate decentralization, network stability and controllability, and is energy-efficient and environmentally friendly.
- Optimal Design for Web3 Business with Fast and Affordable Fees
- Achieves processing speeds tens of times faster than the Ethereum mainnet.
- Fees for issuing NFTs are less than 1 yen per transaction.
- Eliminates settlement risk through deterministic finality.
- Projects by Large Corporations and Local Governments Underway
- Financial DX projects through the issuance of Japan-based stablecoins by banks.
- Various NFT projects by local governments, including "Digital Citizen Certificates."
Japan Open Chain Official Website：https://www.japanopenchain.org/en/