NTT DATA Joins the Blockchain Technology-related Organization "Enterprise Ethereum Alliance"
Oct. 10, 2017
NTT DATA Corporation
NTT DATA Corporation (Head Office: Koto-ku, Tokyo, Japan; President and Chief Executive Officer: Toshio Iwamoto; hereinafter referred to as “NTT DATA”) joined the “Enterprise Ethereum Alliance” on October 2, 2017. The alliance is an organization that examines the use of Ethereum*1, blockchain technology, in the enterprise field.
In considering the utilization of blockchain, NTT DATA has so far used multiple blockchain technologies such as Hyperledger Fabric and Ethereum. Given that Ethereum is expected to be utilized further in the enterprise field going forward, we decided to join the alliance. NTT DATA will further utilize blockchain and accumulate know-how on related technologies for traceability, KYC (Know Your Customer) and other themes through the participation in the alliance.
The blockchain is a technology that uses a large number of computers connected to a network to process and manage data in a distributed manner, which enables a function equal to one that has been handled by a single huge system so far. It has been used as a technology to support cryptocurrencies, such as recording bitcoin transaction information.
Originally, the possibility of a new settlement system and the utilization of cryptocurrencies were discussed, and related technologies and services emerged across the globe. Subsequently, attention was focused on the Distributed Ledger Technology, which characterizes the blockchain, and the potential of smart contracts, which enable automated contract execution, leading many companies to begin considering new businesses.
Meanwhile, as various companies began considering new businesses, issues that cannot be dealt with by existing blockchain technologies have appeared. In addition, regarding the use in the enterprise field, more specific themes are now being discussed, such as the definition of performance and the concept of operation and control based on the precondition of distributed structure. The Enterprise Ethereum Alliance is an organization focusing on examinations on how to use the Ethereum blockchain technology in the enterprise field.
In addition to examining businesses that use blockchain technologies around the world, NTT DATA’s blockchain promotion team has been evaluating multiple blockchain technologies. From before, we have been considering business development by joining the technology-related organization “Hyperledger Project.” On the other hand, there are multiple themes involving Ethereum (traceability, KYC, etc.,) in Japan and abroad, and such themes are expected to increase in the future. In addition, Ethereum likely will be more utilized in the enterprise field. Given these, we decided to join the Enterprise Ethereum Alliance.
The aim of the participation
Through the participation in the Enterprise Ethereum Alliance, NTT DATA will further develop businesses with many customers in Japan and overseas who are considering utilizing Ethereum. Moreover, based on know-how on the development and management of enterprise systems that NTT DATA has cultivated for many years, we will contribute to the development and standardization of blockchain platforms that are compatible with highly reliable systems.
Enterprise Ethereum Alliance
The “Enterprise Ethereum Alliance” is an organization founded in 2017, aiming to develop systems and technologies for using the Ethereum blockchain technology in the enterprise field. In terms of blockchain technology, the organization is developing technologies specializing in enterprises, not the existing Ethereum.
Participating companies include IT-related companies such as Microsoft and Intel and financial institutions such as JP Morgan and Santander.
*1Ethereum is a blockchain technology with a decentralized structure, just like bitcoin. It features the capability to implement an application called smart contract, in addition to cryptocurrency transaction.
*Other product names, company names, and group names in this text are the trademarks or registered trademarks of their respective entities.
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