How Sony Keeps Innovating With Blockchain Technology

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How Sony Keeps Innovating With Blockchain Technology

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Sony Corporation (Sony) has been at the forefront as the world’s leading innovator for years. This has resulted in Sony owning the largest music business through Sony Music Entertainment, operating the largest video game console business and being the leader in video game publishing business. This isn’t surprising as Sony has been a household name since the early ‘90s and their current position at the top is just Sony’s natural spot. The Japanese company is heavily invested in several new technologies including blockchain and AI, and the speed at which their testing and investments in the space are rolled out is remarkable.

Last week it was announced that Sony have developed a high-speed processing technology that facilitates data transactions for a new breed of database platform called Blockchain Common Database (BCDB). The work was done as part of a transportation-focused Mobility as a Service (MaaS) initiative led by the Netherlands Ministry of Infrastructure and Water Management back in 2019. What makes this technology interesting is that they have achieved successful execution and storage of seven million transactions per day, simulating a real-world scenario where buses, cars, bikes and taxis all share their location and other metrics.

Of course, Sony is no stranger to investing in the blockchain space. In 2018 they announced that they are working on a platform that will control and manage digital content and rights. They have also created a portal for managing educational course records and transcript management through blockchain, an initiative conducted by Sony Global Education along with Fujitsu.

Since Japan has been one of the first countries to recognize the value of digital assets and begin creating a positive regulatory framework toward cryptocurrencies and specifically bitcoin as early as 2017 we have seen a lot of blockchain and digital assets investments coming from the Far East. Sony, through their investments arm Sony Financial Ventures (SFV), have participated in the latest funding round of the Securitize platform. This platform, which specializes in digital securities, has a strong connection to and roadmap focused mainly on Japan and Asia.

With all the work and investments they are putting into the enterprise blockchain space, Sony will be a strong contender for next year’s 2021 Blockchain 50 list. The list has already welcomed the presence of one of Sony’s competitors, Samsung. Overall, Sony is showing a strong desire and willingness to innovate in using blockchain technology for supplementing their existing infrastructure and business use cases. From those efforts, the net winners will be their consumers and partners, who will benefit from access to better and faster services at an eventually optimized price.

 

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