Fujitsu Looking To Offer Crypto Services

A recent trademark filing reveals that the Japanese tech company Fujitsu is reportedly looking into offering crypto trading services. 

Licensing Attorney Unveils Fujitsu’s Crypto Interest

The Japan-based tech company Fujitsu is looking into offering crypto trading services. The company has recently filed an application for trademarks covering a broad range of services related to banking, finance, and cryptocurrency. The information was shared by trademark attorney Michael Kondoudis, who specializes in NFT and metaverse licensing. Kondoudis revealed that the tech giant filed the application on March 16, and some of the financial services that it is seeking to license include money exchange, securities trading, insurance brokerage, tax planning, and cryptocurrency trading. 

On March 21, Kondoudis tweeted, 

“Is Fujitsu moving into banking, finance & crypto? The international tech co has filed a trademark application for exchanging money, securities trading, insurance brokerage, tax planning, [and] cryptocurrency trading.”

Financial Insitutes And Their Crypto Adventures

As a prominent technology company, it would make sense for Fujitsu to take the next step into cryptocurrency and other web3 technologies. The company had already announced its announced the creation of an Open Metaverse Infrastructure. 

Many other tech firms have decided to follow this course of action. However, Fujitsu’s position as the largest IT services provider in Japan just highlights further how quickly and expansively crypto is permeating into the businessworld. 

Digital finance and cryptocurrencies have become an intrinsic part of the entire umbrella of technological innovation. If crypto services are actually offered on this platform, it could impact the established players in the industry and shake up the landscape of the financial services industry.

Crypto Vs. Quantum Computing 

There is another interesting angle to this story. Turns out that the company had already been dabbling in quantum computing. As per reports, Fujitsu had been working alongside Riken, which is the country’s biggest research institute, to develop Japan’s first quantum computer.

This is at odds with the company’s crypto ambitions as there are implications that quantum computers could affect cryptocurrencies like Bitcoin in a negative way. For example, quantum computing could enable hacking of asymmetric encrypptoon and break into Bitcoin wallets. 

In fact, this negative application of quantum computing has been researched upon by a team of scientists at Sussex University, who concluded that the technology could be used to decode the SHA-256 cryptographic algorithm and ultimately affect the impenetrability of the Bitcoin network in the next decade. 

Therefore the question remains – why would Fujitsu invest in two such technologies, where one has such negative implications for the other? 

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.