blockhive and Fujinet Create a Blockchain Research Lab in Vietnam

blockhive OÜ, an Estonia-based blockchain platform, and Fujinet Systems Co., Ltd., a software development company, have signed an agreement on the establishment of a blockchain lab in Ho Chi Minh City on August 16, 2017.

blockhive and Fujinet Systems held a signing ceremony in the headquarters of Fujinet, a year after they had first jointly developed various blockchain projects. Under the new agreement, the two groups will apply their collaborative research on blockchain to a wide range of fields. They join force in creating a blockchain engineer group that will focus on developing new leading technology.

``Various advanced technologies such as artificial intelligence, Internet of Things and virtual reality have caught the world’s attention, but the one technology that is in the center of this structural change is blockchain,’’ said Fujinet Systems President Nguyen Dang Phong. ``The potential market size of blockchain technology is estimated to be around $18 trillion as it is widely used in areas ranging from infrastructure, middleware, to applications, as well as fundamental technology. Even so, there are few engineers who are committed to blockchain. As the industry develops and innovation accelerates, blockchain engineers will become indispensable in the business world.’’

“Fujinet has a strong pool of talented engineers and it is an honor to establish a blockchain research lab with Fujinet,’’ said So Nagasawa, co-founder of blockhive. ``We would like to focus on making the blockchain technology more stable going forward. That is in line with our vision of being the pioneer in this exciting area.’’

Blockchain is a distributed ledger or network where numerous data can be processed through cryptography. Each transaction is being shared, reconciled and recorded as a block on a network of computers. By utilizing cloud technology on low-cost computers, it can effectively achieve zero downtime and create unforgeable record for all of the transactions across its network. Blockchain with its incorruptible characteristic has attracted the world’s attention as globalization evolves.

About blockhive
blockhive OÜ develops, incubates and invests in ideas that will change the future. By using blockchain platform, the ecosystem, as well as the community the team has created, blockhive aims to turn great ideas into reality. The company was founded in Estonia in 2017 by a group of engineers led by Hikaru Kusaka, a former advisor to the Japanese government. His team has developed blockchain systems for more than 50 companies including banks, software and A.I. companies in Japan and other countries. The company is in the process of developing decentralized applications using blockchain technology and it plans to announce more details about various projects from September.

About Fujinet Systems
Fujinet Systems Co., Ltd. was established in 2000 and its core business is software development for Japanese software companies. With more than 600 engineers, the company ranks among the top 10 in Vietnam’s IT companies and the sixth in software development outsourcing.

Press contact
blockhive OÜ
Address: Hobujaama 4, 10151, Tallinn, Estonia
Telephone: +372–665–4440

Fujinet Systems JSC
Ms. Nguyen Ngoc Hong Hanh (Sales)
Address: Waseco Building, Block B, 1F, Room 101, 10 Pho Quang St., Ward 2, Tan Binh, Ho Chi Minh City, Vietnam
Telephone: +84–908–364–397