Fujitsu, a Japanese technological giant, has recently taken a big step by applying various banking, financial, and cryptocurrency-related services.
Information given with Finbold on March 21 by trademark attorney Michael Kondoudis, who specializes in the non-fungible token (NFT) and metaverse licensing, indicates that this multinational technology corporation has applied for a trademark covering a wide variety of financial services, including money exchange, securities trading, insurance brokerage, tax planning, and cryptocurrency trading.
The application submitted on March 16 indicates that Fujitsu may aim to extend its presence in the banking, finance, and cryptocurrency industries. Given Fujitsu’s status as a top technology business, the decision is noteworthy and highlights the rising significance of digital banking and cryptocurrencies within the framework of technical innovation.
This trademark application will attract significant attention and speculation in the technology sector as industry insiders and analysts attempt to understand Fujitsu’s intentions and possible tactics. Given its status as a prominent IT company, Fujitsu’s entry into digital banking and cryptocurrencies have the potential to disrupt the existing companies and reshape the financial services industry landscape.
In October, Finbold announced that the tech giant Fujitsu is collaborating with Japan’s most prestigious research institution Riken to construct the country’s first quantum computer.
Interestingly, this might conflict with Fujitsu’s exploration into crypto services since there are questions about what introducing these new, more powerful computers could entail for the crypto market as it now exists. Recent advancements in quantum computing have sparked significant speculation over the implications for cryptocurrencies such as Bitcoin. It might be used for harmful purposes, such as breaking asymmetric encryption to access Bitcoin wallets.
Scientists from Sussex University noted in a research report published in late January 2022 that it is projected that quantum computing would be able to crack the SHA-256 encryption method and degrade the impenetrability of the Bitcoin network within a decade.
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