Fujitsu, a global IT solutions company based in Tokyo, is set to launch a novel platform that uses blockchain technology to connect diverse economies. This announcement comes on the heels of a successful year-long pilot trial, and the launch is slated for June 30.

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Fujitsu’s blockchain technology, known as ConnectionChain, was employed in the recently concluded trial. The focus was on enhancing the settlement of cross-border securities in regions such as Japan, China, South Korea, and other Southeast Asian countries, according to the press release.

The Fujitsu Web3 Acceleration Platform will be launched on June 30, based on the outcomes of the trial project.

The pilot project, initiated in January 2022, was a collaborative effort involving the Philippines-based Asian Development Bank, blockchain infrastructure company ConsenSys, digital finance solutions firm R3, and Soramitsu, a tech company based in Tokyo.

Fujitsu aims to further its work with blockchain and Web3, the decentralized new wave of the internet, to broaden and connect markets and societies.

Noh Ki-tae of FitFuns, a metaverse company based in South Korea, suggested in a recent video interview with Forkast that blockchain and the metaverse, a fundamental platform of Web3, could present growth opportunities for various industries and economies.

“I believe a real metaverse needs to act as a hub that connects one industry with another … And for that, I think blockchain is best. [Companies] all have their APIs (Application Programming Interface) and everyone would want to use their own. So there needs to be some medium network for everyone, something transparent and decentralized, and that’s blockchain,” Noh stated.

Fujitsu, a major digital tech service provider in Japan, reported consolidated revenues of 3.7 trillion yen (US$28 billion) for the fiscal year ending March 31, according to its website.