Tech giant Fujitsu is actively exploring the offering of crypto services
Fujitsu, the Japanese technology giant, has recently made a significant move by submitting an application for a wide range of banking, financial and cryptocurrency-related services.
The international technology company has filed a trademark application covering a range of financial services, including money exchange, securities trading, insurance broking, tax planning and cryptocurrency trading, according to information shared with Finbold by trademark attorney Michael Kondoudis who specializes in non-fungible token (NFT) and metaverse -licensing, 21 March.
The application archived March 16 signals that Fujitsu may seek to expand its reach into the banking, financial and crypto sectors. The move is notable given Fujitsu’s status as a leading technology company and underscores the growing importance of digital finance and cryptocurrencies in the broader context of technological innovation.
The filing of this trademark application is likely to generate significant interest and speculation in the technology industry as industry insiders and analysts seek to see Fujitsu’s intentions and potential strategies. As a leading player in the technology sector, Fujitsu’s foray into the world of digital finance and cryptocurrencies has the potential to shake up the incumbents and reconfigure the financial industry landscape.
Fujitso is working on developing Japan’s first quantum computer
It’s worth pointing out that back in October, Finbold reported that tech giant Fujitsu is working with Japan’s most prominent research institute, Riken, to develop Japan’s first quantum computer.
Interestingly, this could clash with Fujitsu’s exploration of crypto services as there are concerns over what the rise of these new, more powerful computers could mean for the cryptocurrency space as we know it. There has been much speculation about the implications that recent developments in quantum computing may have for cryptocurrencies such as Bitcoin. It can be used in malicious practices, such as accessing Bitcoin wallets by cracking asymmetric encryption.
Their fears were confirmed in late January 2022 by researchers at Sussex University, who wrote in a research paper that it is expected that quantum computing will be able to break the SHA-256 cryptographic algorithm and erode the impermeability of the Bitcoin network within the next decade.
