FPT Software and IFA Partner to Ramp Up Blockchain-Backed Information Banking Service

FPT Software and Tokyo-based IFA Co., Ltd. (IFA) have formed a business alliance to develop an information banking platform. The platform, AIre Data Bank, expects to enhance the data exchange experience with the utilization of blockchain technology.

Many businesses and services rely on data to operate, but how to exchange data fairly and safely remains a challenge. With the development of AIre Data Bank, FPT Software and IFA look to offer a marketplace that enables secured and transparent transactions of data and rewards between “sellers,” who provide a variety of personal data, and “buyers,” who purchase data for marketing and other purposes.

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Blockchain technology, with its strengths of increasing security and transparency, is leveraged to build this platform. AIre Data Bank uses ARCS, a cryptocurrency issued and operated by IFA, as its native token. In addition, all transaction data will be stored on the blockchain, preventing any party from corrupting the integrity of data, allowing “buyers” to purchase the data fairly.

By combining the use of ARCS and FPT Software’s advanced blockchain capability, both parties aim to realize the vision of user-sovereign autonomous information utilization, mainly in the Asia Pacific region.

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“We are very pleased to announce this business partnership with FPT Software,” said Masashi Mizukura, CEO of IFA. “The Data Bank is one of the most important areas of the AIre initiative, as it will enable the transparent and autonomous use of information. FPT Software has a proven track record of providing technology to some of the world’s leading IT companies and is certified by the Vietnamese government. By introducing FPT Software’s advanced technological capabilities to the AIre Data Bank, we believe that we will be able to achieve a high level of security and convenience for both users who provide data and companies that use data,” he noted.

“We are delighted that our partner IFA recognizes our blockchain capability,” said FPT Japan CEO Nguyen Viet Vuong. “We look forward to developing this information bank platform and extending blockchain applications in business. FPT Software will strengthen this partnership with IFA, making security, transparency, integrity, and convenience a reality for our users.”

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