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Japanese I.T. Giant Fujitsu Unveils Blockchain Platform for Retailers

Last Updated March 4, 2021 5:08 PM
Shaurya Malwa
Last Updated March 4, 2021 5:08 PM

Japan’s I.T and computing equipment giant Fujitsu announced the launch of the cloud-based  Fujitsu Intelligent Society Solution Blockchain Asset Service on June 6, 2018.

Fujitsu’s Blockchain Push

Via an official announcement , the company revealed its plans for the use of blockchain technology in retail sectors – such as digital points, stamps, and coupons – aimed towards tourist sites, markets, and shopping centers.

Using the service, customers will be able to collect digital stamps by scanning QR codes in designated areas and redeem them for benefits and coupons in selected shopping or retail stores.

The collected information and usage data will be recorded on Fujitsu’s hybrid blockchain. Additionally, it will be linked with user information for use in related analysis.

Fujitsu aims to connect promotions and shopping events with its blockchain platform, in turn augmenting the customer footfall for partner brands.

The announcement stated:

“At the same time, they can also more effectively set strategies for regional revitalization, based on the activity patterns of users seen in the analysis results, and on such factors as the use of the coupons and other benefits.”

The service will debut at trade fair Interop Tokyo 2018, on June 13.

Retailers who adopt the platform will be able to implement the service to “connect” various events and promotions, and record the distribution of digital stamps or coupons. On the other hand, customers would use a smartphone-enabled API to connect to promotions of their choice.

Fujitsu added that the service is designed to ensure customers can safely and easily access the platform, regardless of their knowledge of blockchain systems.

Compiling User Data with Transactional Information

As stated in the announcement, retail customers will be able to track user behavior through the linked digital information. In contrast, traditional systems identify users based on sex and age, which does not provide enough data for companies to base strategic decisions on.

Fujitsu’s system would provide retail customers with an array of information such as user interests and shopping activities, thus providing them a useful tool for setting sales strategies.

Additionally, the platform makes it possible to “visualize the circulation of points and stamps and the usage status of coupons.”

Fujitsu no Stranger to Blockchain

Interestingly, the I.T. firm has implemented blockchain technology in various use-cases in the past. As reported by CCN.com, the firm developed a payments technology in November 2017 that connects different blockchains to enable exchanges and payments with various cryptocurrencies.

The development came at a time when the firm was working with Japan’s three ‘megabanks’ to develop a peer-to-peer money transfer system utilizing blockchain technology to that will facilitate money transfers between actual bank accounts and their retail customers.

Recently in March 2018, Fujitsu established a blockchain center in Belgium, to support research, development, and innovation in the “revolutionizing” blockchain industry.

Featured image from Shutterstock.