Fujitsu and Accenture Launch New Project to Advance Blockchain Technology

Fujitsu and Accenture Launch New Project to Advance Blockchain Technology

Blockchain
May 18, 2020 Editor's Desk
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Fujitsu and Accenture have declared a new joint project titled ‘Hyperledger Cactus’ by Hyperledger and hosted by the Linux Foundation. The project is defined as an open-source collaborative effort intended to develop cross-industry blockchain technologies. According to their original proposal to the community, the companies are seeing to produce an open-source software (OSS) project for
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Fujitsu and Accenture have declared a new joint project titled ‘Hyperledger Cactus’ by Hyperledger and hosted by the Linux Foundation. The project is defined as an open-source collaborative effort intended to develop cross-industry blockchain technologies.

According to their original proposal to the community, the companies are seeing to produce an open-source software (OSS) project for the secure and reliable combination of various blockchains. Hyperledger executive director Brian Behlendorf said in a statement, “Hyperledger Cactus has moved quickly through the process of becoming a Hyperledger project thanks to the support and initial code contributions of Accenture and Fujitsu and a compelling use case.

“There is strong community interest in facilitating the flow of information and transactions across disparate blockchains, and Hyperledger Cactus is tackling that challenge.” “Now that Hyperledger Cactus is a comprehensive Hyperledger project, there will be an even larger pool of resources and contributors pushing this project forward to present market-ready blockchain integration technologies.”

Accenture, Fujitsu Laboratories, and FLA will use the Fujitsu Laboratories’ proprietary security technology ConnectionChain to produce infrastructure software that allows more natural development of integrated services in which various blockchains work together. The companies have open-sourced the software for Hyperledger Cactus.

According to the companies, the project intends to improve the framework for a new architecture that will abolish differences like the timing of transactions in multiple blockchains, allowing asset transfers and recovery from transaction errors.

The new open-source technology intends to create a modular, extensible system that will allow communication, integration, operations, and transactions between different blockchains. The companies will also give a Software Development Kit as an OSS to extend services that combine various blockchains for software developers.

As an instance, by employing the infrastructure of Hyperledger Cactus in car-sharing services, a new service can be built in which a driver can momentarily use a car in exchange for transferring private coins, while joining a car-sharing service blockchain that governs the rights of car usage, with a blockchain handling private coins.

According to the companies, traditional blockchains cannot combine different blockchains or get excess money back from remitted coins, whereas the Hyperledger Cactus framework automatically links other blockchains. Moreover, technology can observe the results of such operations, allowing the rapid development of combined services that connect various blockchains.

When considering the requirement for the Hyperledger Cactus project, the companies’ state blockchains are hard to modify and do not need central management. Consequently, they are frequently being utilized in non-financial areas such as content management and rights management.

Before this project in November 2017, Fujitsu Laboratories produced a proprietary security technology ConnectionChain to interconnect blockchains with varying implementation methods and objectives safely. The software for exchanging various private coins was made easily accessible as an OSS.

Under the new project Hyperledger Cactus, Fujitsu Laboratories and FLA will combine the ConnectionChain technology with Accenture’s Blockchain Integration Framework to collectively produce a platform for interconnecting blockchains and additionally activate digital transformation.

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