TOKYO, Aug 23, 2022 – (JCN Newswire via SEAPRWire.com) – JCB Co., Ltd. (hereinafter JCB), JP GAMES, Inc. (hereinafter JP GAMES), and Fujitsu Limited (hereinafter Fujitsu) today announced that they will embark on a one year joint project starting August 23, 2022 to improve the security of distribution and sales of digital data in the metaverse and gaming world.
The three companies will leverage Fujitsu?s hash-chain based aggregate digital signature technology (1) to create and verify a model for the clear management of rights regarding the publication and ownership of data and virtual assets.
JCB, JP GAMES, and Fujitsu will use this model to contribute to individual users? and companies? safe and secure use of various types of data. The new model will not only ensure the rights to data in the metaverse, but also guarantee the reliability, authenticity, and traceability of transactions and digital data itself.
Non-Fungible Tokens (NFTs) (2) have become widely used as a means to clarify the rights to virtual assets that can be easily copied. Many anticipate that NFTs will play a central role in supporting various services in Web3 (3) and the metaverse.
At present, NFTs are especially attracting attention for investment and speculative purposes. Some individual users and companies, however, remain hesitant to embrace NFTs due to a lack of a robust regulatory framework, and expectations are rising that Web3 will provide new solutions to more simply prove ownership of digital data.
Outline of the Joint Project
Within this project, JCB, JP GAMES and Fujitsu plan to develop a new model that enables a wide range of users to easily clarify and securely manage the rights to virtual assets by combining a metaverse platform jointly provided by JCB and JP GAMES with a digital signature technology developed by Fujitsu. The three companies will focus on the following points:
1. Development of a business model related to a rights management service that enables the issuance and verification of digital signatures for virtual assets issued in the metaverse and game worlds.
2. Development of a technology that works in combination with the identity verification and settlement functions provided by JCB to protect users from possible fraudulent transactions
3. Implementation of a function within the model to ensure safe usage for minors and the elderly based on Fujitsu?s digital signature technology; future interoperability of the model with the existing NFT market
Roles and Responsibilities
Utilization of accumulated solutions and knowledge as Japan’s premier and leading international payment brand to provide settlement functions and trust information based on its settlement and ID authentication platforms; provision of a new service model for ensuring the reliability of transactions.
Development of a multiverse platform constructed with the PEGASUS WORLD KIT metaverse space construction technology framework and a passport that carries information about users who cross the border between real and virtual worlds in collaboration with JCB.
Provision of hash-chain based aggregate digital signature technology that clarifies information concerning rights to digital data and virtual assets, as well as transparent trust-ensuring technology (4) that can be linked to identity authentication infrastructure and services to streamline identity verification.
Moving forward, JP GAMES plans to utilize the model developed in this joint project in its future console games.
Through this joint project, the three companies aim to realize a society in which a large number of individuals and companies can conduct transactions safely and securely, with a view to utilizing data traceability and transactions involving various participants.
(1) Hash-chain based aggregate digital signature technology :
Digital signature technology developed by Fujitsu that simultaneously ensures the authenticity of multiple persons, including the current owner and the next owner, the order of signatures, and the integrity of data.
(2) NFT :
Non-fungible token; non-falsifiable digital data with the ability to impart unique properties to digital data on the blockchain to ensure authenticity and track transaction history.
(3) Web3 :
A concept attracting attention as a next-generation Internet. It refers to a decentralized world where individuals are connected.
(4) Transparent trust-ensuring technology :
Technology developed by Fujitsu that helps an intermediary server obtain a user’s authentication status when using different services or games, and allows a digital signature machine to grant/verify a transparent digital signature.
Fujitsu?s purpose is to make the world more sustainable by building trust in society through innovation. As the digital transformation partner of choice for customers in over 100 countries, our 124,000 employees work to resolve some of the greatest challenges facing humanity. Our range of services and solutions draw on five key technologies: Computing, Networks, AI, Data & Security, and Converging Technologies, which we bring together to deliver sustainability transformation. Fujitsu Limited (TSE:6702) reported consolidated revenues of 3.6 trillion yen (US$32 billion) for the fiscal year ended March 31, 2022 and remains the top digital services company in Japan by market share. Find out more: www.fujitsu.com.
JCB is a major global payment brand and a leading credit card issuer and acquirer in Japan. JCB launched its card business in Japan in 1961 and began expanding worldwide in 1981. Its acceptance network includes about 39 million merchants around the world. JCB Cards are issued mainly in Asian countries and territories, with more than 140 million cardmembers. As part of its international growth strategy, JCB has formed alliances with hundreds of leading banks and financial institutions globally to increase its merchant coverage and cardmember base. As a comprehensive payment solution provider, JCB commits to providing responsive and high-quality service and products to all customers worldwide. For more information, please visit: https://www.global.jcb/en/.
About JP GAMES
A game development studio established in February 2019 by Hajime Tabata, who worked on games such as Final Fantasy XV. Under the concept of “Making the future fun with the power of games”, the company pursues the possibilities of games. In February 2022, the metaverse business was separated from JP GAMES and became a group company. https://www.jpgamesinc.com/en/
Public and Investor Relations Division
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