Tech giant Fujitsu is actively exploring crypto services offering

Fujitsu, the Japanese technology giant, has recently made a significant move, filing an application for a broad range of banking, finance, and cryptocurrency-related services.

This international technology company has submitted a trademark application that covers a range of financial services, including money exchange, securities trading, insurance brokerage, 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, on March 21.

The application filed on March 16 signals that Fujitsu could be seeking to expand its reach into the banking, finance, and crypto sectors. The move is notable given Fujitsu’s stature 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 considerable interest and speculation in the tech industry as industry insiders and analysts seek to discern Fujitsu’s intentions and potential strategies. As a leading player in the tech sector, Fujitsu’s foray into the world of digital finance and cryptocurrencies has the potential to shake up the established players and reconfigure the financial services industry landscape.

Fujitso working to develop Japan’s first quantum computer

It’s worth pointing out that back in October, Finbold reported that the tech giant Fujitsu is working with Japan’s most prominent research institute Riken on developing Japan’s first quantum computer.

Interestingly, this could clash with Fujitsu’s exploring crypto services as there are concerns over what the emergence of these new, more powerful computers could mean for the cryptocurrency space as we know it. There has been much conjecture over the implications that recent developments in quantum computing could have for cryptocurrencies such as Bitcoin. It might be used in malicious practices, such as accessing Bitcoin wallets by cracking asymmetric encryption. 

Their fears were confirmed in late January 2022 by scientists at Sussex University, who wrote in a research paper that it is anticipated that quantum computing will be able to break the SHA-256 cryptographic algorithm and erode the impenetrability of the Bitcoin network within the next decade.