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Japanese conglomerates Fujitsu, Hitachi, NTT Data and Toppan Digital are among the companies partnering with Japan’s largest financial group Mitsubishi UFJ Financial Group (MUFG) to create a decentralized identity (DID) and verifiable credential (VC) consortium.
Also joining the consortium are Anderson Mori & Tomotsune law firm, systems integrator Itochu Techno-Solutions Corporation (CTC) and Hakuhodo Key3, a web3 services arm of marketing and innovation company Hakuhodo. The task of the consortium is experimenting with decentralized identity solutions and streamlining Know Your Customer (KYC) processes in finance. The companies may also explore self-sovereign identities (SSI), an approach to digital identity that gives individuals control over their data. The group is hoping to attract other companies, according to blockchain-focused publication Ledger Insights. Source: Biometric Update
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