What Is Digital Trust Technology ? FutureUniverse Shares Insight And In-Depth Understanding on what this technology is about.
Innovation is at the heart of today’s digital economy. It is important for businesses to find new ways to serve their customers, often enabled by the implementation of emerging technologies, in order to remain competitive. The nimble nature of product development and the willingness to swiftly adjust business models in order to support innovation are, however, associated with significant risks.
It is possible to cut corners in a rush to market, which may result in compliance violations, data breaches, and products that are simply unable to fulfill their intended functions, causing long-term damage to a company’s reputation. Therefore, organizations must prioritize digital trust as a fundamental component of their transformation projects. A recent ISACA study on digital trust found that 97 percent of respondents considered it “extremely” or “very” important to digital transformation. It is encouraging to see industry professionals recognize that digital trust and digital transformation should go hand-in-hand, however, achieving true digital trust remains a challenge.
In light of the fact that only one in five respondents say their board has identified digital trust as a priority and only 28 percent are aware of how their work contributes to digital trust, it is evident that more education is needed. The establishment of a shared understanding of digital trust is an essential first step for enterprise leaders. According to ISACA, digital trust refers to the belief in the integrity of the relationships, interactions, and transactions between suppliers and customers within an associated digital ecosystem.
Cybersecurity and avoiding data breaches are often associated with digital trust; however, digital trust encompasses more than that, including governance, privacy, auditing, ethics, transparency, and quality, in addition to cybersecurity and avoiding data breaches. There is an inextricable link between trust and successful transformation. An effective digital transformation strategy transforms traditional business models into ones that emphasize digital engagement, digital interactions, and the use of digital products and services.
Digital trust is critical to organizations as the number of organizations and customers engaging digitally rises. As such, business and technology leaders must ensure that the organization’s technology instills confidence, as when there is trust in customer interaction, customer satisfaction and business outcomes are improved.
It is common for digital transformation projects to fail when they are viewed as one-offs rather than part of a continuous process. This is another reason why digital trust, as a North Star, can facilitate digital transformation efforts. The maintenance of digital trust requires enterprises to continuously evaluate their practices and adjust them when areas for improvement are identified.
Monitoring, auditing, and measuring digital trust practices regularly ensures the successful implementation of major organizational initiatives, such as technology-driven transformations. An organization’s approach to digital transformation should be based on a holistic digital trust mindset. Trust is fundamental in a digital world. The ongoing and exponential growth of data has resulted in the need for intelligence that is trusted by customers, employees, business partners, and regulators. Scale is the key to business relevance and ultimately success, since trust creates confidence and accelerates the adoption of new digital experiences.
You create sustainable value if you build trust into the business and operating models rather than adding trust on top of them. The concept of sustainability is one of the most important words when it comes to digital transformation objectives for organizations. Today’s digital economy can only be successfully navigated by a cross-functional commitment to preserving and creating digital trust.
It is imperative for organizations to recalibrate their business models to support rapid innovation as technologies such as artificial intelligence, blockchains, and cloud platforms continue to mature. Organizations will be able to achieve one of the most valuable prizes in today’s volatile business environment by looking at these transformation projects through the lens of digital trust.
Kawasaki, October 06, 2020 – Fujitsu Laboratories Ltd. today announced that it has developed a technology to guarantee the authenticity of business data exchanged between companies, government agencies, and other entities. The technology can verify when and by whom the data was created, and whether it has been tampered with, to ensure trusted data exchange and allow users peace of mind. In the new normal era, business operations are shifting with increasing rapidity toward the digital space, in which communication takes place through e-mail and the cloud without face-to-face interaction.
In dealing with contracts and invoices with business partners, the challenge of guaranteeing trust and authenticity of data transactions is becoming increasingly urgent. Considering this challenge, Fujitsu Laboratories has developed a technology that ensures the authenticity of data handled by multiple organizations involved in the approval process automatically.
Using this technology, customers, such as corporations and government offices, can achieve this without modifying the user interface of the cloud service. With this technology, Fujitsu’s proprietary Trust as a Service (TaaS) layer can be installed in a cloud environment between a cloud service and a client device, enabling data to be digitally signed automatically on behalf of the client device in a transparent manner to guarantee authenticity. Moreover, Fujitsu has developed an authentication protocol for TaaS that ensures a secure connection and management between cloud services, the TaaS layer, and client devices, while avoiding difficulties for service users.
Through the application of this technology, internal operations can be digitally transformed faster and business data can be verified for authenticity across multiple organizations, enabling secure business collaboration, regardless of whether users are working remotely or with external devices. Fujitsu will present details of the technology at Keio University’s “10th International Cybersecurity Symposium,” which will be held online on Thursday, October 8th (Thursday). Background Development As cyber-attacks have increased in intensity in recent years, a Zero Trust Architecture has become increasingly necessary for security and data protection. Rather than conventional defenses, which protect the boundaries between internal intranets and external networks, this Zero Trust Architecture emphasizes seamless authentication and access control.
It is also proposed that the new standard promote remote working in an effort to reduce face-to-face work, including the replacement of stamps with digital signatures, as much as possible, and the creation of a system to complete work digitally. In addition, for communication between organizations, a business form using digital infrastructure, combining storage in various cloud environments, various services, and e-mail, has become the standard. To prevent risks, it is important to ensure the authenticity of the data, such as whether it was created by a trusted source or whether it has been tampered with.
Although these technologies provide convenience, users of these technologies have to be aware of the need to perform tasks such as securely managing the private key and providing a digital signature. Moreover, the introduction of authentication technology that is tailored to each business service is both time-consuming and costly.
Furthermore, it is necessary to use different cloud services for different business partners in order to facilitate collaboration between the organizations, as each business system determines which cloud service to use. As a result, the need for a system that ensures the authenticity of the approval process across organizations is on the rise while taking advantage of the cloud services currently being used in day-to-day business operations.
Fujitsu Laboratories has developed an industry-first technology that allows businesses to assign and manage digital signatures for business data without the use of specialized business systems, as well as to integrate, manage, and verify the process of creating and maintaining data. In order to achieve this, Fujitsu’s TaaS layer is installed in the cloud environment between cloud services used for day-to-day business operations and client devices in private and public organizations.
1. Fujitsu has developed a technology that enables the TaaS layer to detect the operation of the user’s work when using a cloud service that provides data management functions from a client device. As a result, digital signatures can be automatically replaced and transparently added and managed.
2. The technology of process assurance. By incorporating authenticity into the data itself, Fujitsu has developed technology that enables users to visualize how business data is generated and to confirm the authenticity of business processes. This technology allows the user to incorporate the process of creating, verifying, and approving data within and between organizations into the business data in advance. Embedded processes allow the user to create and approve data, and the TaaS layer automatically stacks the digital signatures of each user and approver. Rather than relying on traditional business systems, the technology assures the authenticity of business processes across organizations and confirms their authenticity without the use of cloud services by incorporating authenticity into the data itself rather than relying on traditional business systems.
As a result of this technology, it is possible to conduct secure business-to-business collaboration by clarifying who created and who approved business documents such as contracts, quotations, and invoices, increasing transparency. In conjunction with a commercial cloud service, Fujitsu has successfully confirmed that the business data approval process works correctly without having to alter the user interface on the client device side.
It enables users to verify the authenticity of their data for projects across multiple departments within their organization. For example, when client devices of two organizations inside and outside the company use different cloud services in a telework environment, the TaaS layer mediates the originator of the created business data, ensuring that it is shared with the other organization, and ensuring that the receiving organization can verify the authenticity of the business data.
As well as ensuring the authenticity of business data, e-Seal also verifies the authenticity of those who created and approved the data. Further, because the TaaS layer is based on digital signature technology, which is effective in preventing spoofing attacks, it is also effective in minimizing the risk of business email compromise that has become increasingly prevalent in interactions with new work styles.
Plans for the future. Fujitsu will participate in the Japan Digital Trust Forum’s creation of a common architecture for TaaS, and will verify its use in use scenes, with the aim of putting it into practice.
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