Various tech-oriented companies are paying close attention to blockchain technology and Fujitsu is no different in this regard. The Japanese powerhouse has recently launched a new blockchain asset service which aims to position the company as a leader in this field.

Fujitsu’s new Blockchain Venture

One has to commend Fujitsu for exploring new business opportunities within the blockchain industry as its latest product,  ‘Fujitsu Intelligent Society Solution Blockchain Asset Service‘, functions as a cloud computing platform focusing primarily on enhancing existing retail mechanisms. More specifically, the focus lies on digital coupons, stamps, reward systems, and so forth. With this new technology, Fujitsu hopes to make firms in the tourism and shopping industry more excited about the blockverse.

Users will be able to collect digital points by scanning QR codes which will then be collected and exchanged for coupons and other benefits.

All of the usage data regarding these points and coupons will be recorded on a private blockchain. This chain can also be used to store user data linked to these coupons and points, which will lead to some new use-cases moving forward.

If this technology is embraced by store owners, they can effectively use this platform to attract new customers. This new venture will also enable the evolution of new marketing tactics since all of the data recorded on the native blockchain can help deliver valuable insights into the spending habits of buyers. 

Final Thoughts

Considering how Fujitsu expects to register 100 sales of this blockchain venture by the end of fiscal 2020, the expectations for this new infrastructure are rather high. Even so, there is still a lot of work that needs to be done prior to taking this technology to the masses. However, it does create an appealing alternative technology for retailers and event organizers, which can only be considered to be a good thing at this stage.

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