International IT Behemoth Fujitsu Unveils Blockchain Innovation Center in Brussels

Blockchain technology continues to remain one of the focal points of the 21st-century innovation matrix. Since its inception in 2009, several blockchain applications have been developed and have shown significant potential to disrupt a number of business processes across the globe. While cryptocurrency might be viewed through jaundiced lenses by government and individuals alike, blockchain has almost universal approval for its potential to power important innovations in the modern world.

Governments, large corporations, universities, research centers and entrepreneurs have been devoting considerable resources to blockchain-based research efforts as the race intensifies to become the first to launch the next paradigm-shifting blockchain protocol. As part of the global trend that is gravitating strongly towards blockchain technology, a major IT firm has recently unveiled its own European-based blockchain research facility.

The Fujitsu Blockchain Innovation Center

Fujitsu, one of the largest IT services firm on the globe has unveiled a new Blockchain Innovation Center in Brussels, Belgium. In an announcement on the firm’s website on Wednesday, March 21, 2018, the company revealed that the center was part of its ambition to be a major player in the development of blockchain and other distributed ledger technologies. The center is part of a wider goal to utilize blockchain technology in the creation of cutting-edge solutions to several facets of human life.

Commenting on the development, the Belgian Deputy Prime Minister, Kris Peeters, expressed his delight that Fujitsu elected to establish the center in Brussels. He noted that the country had the geographical advantage of being centrally located thus making it a hotbed for technological innovations as far as Europe is concerned. He reiterated the need for the country’s government to continue to create an enabling environment within which innovative companies like Fujitsu can flourish. The Deputy Prime also commented on the fact that Belgium is a multicultural society and the people have remarkable language skills will eliminate any issue due to language barriers in a multinational setting.

Public-Private Partnership

The Head of Fujitsu Benelux, Yves de Beauregard said that blockchain is fast becoming a hot commodity in the business scene. He revealed that many of the company’s customers are actively seeking ways to implement blockchain technology into the framework of their business processes. He declared that his company is dedicated to establishing robust implementation frameworks for blockchain technology that goes far beyond creating immutable and trusted protocols.

Fujitsu plans to foster a number of public-private partnerships geared towards effective collaboration on specific technologies that expand the applicability of blockchain technology far beyond what is available at present. The company is already known for a few blockchain-based financial services solutions and plans to explore other areas of blockchain applicability. Fujitsu is looking at several areas where a distributed ledger framework might be beneficial such as supply chain, voting, and logistics.

The company is by no means a newcomer as the far as the blockchain technology scene is concerned. It is one of the members of the Hyperledger Consortium and has contributed a number of projects to that are compatible with the Hyperledger Fabric. In March 2018, the company also released a new piece of tech that was capable of detecting bugs in Ethereum smart contracts.

Blockchain-powered Smart Cities

According to the Presales and Business Assurance Director at Fujitsu Benelux, Frederik De Breuck, blockchain technology will play a vital role in the emergence of Smart Cities. With rapid urban migration expected to reach 66 percent by the year 2050, the need for more effective utility services will make Smart Cities powered by IoT protocols a necessity. Already, blockchain technology has been identified as a key component of the IoT framework. The new center will focus some of its research efforts on the technological implementations necessary for the emergence of Smart Cities as well as the socioeconomic implications of such a development.

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