Two separate blockchain initiatives unveiled this week by Fujitsu and Figure Technology Solutions Inc. are signaling how distributed ledger technology is moving deeper into the core of heavy industry and financial markets. Announced on January 14, 2026, the projects focus on two long-standing challenges: proving the environmental value of low-carbon steel and modernizing how company shares are issued and lent.
While the efforts address very different sectors, both companies are betting that blockchain’s ability to create secure, tamper-resistant records can bring new levels of trust and efficiency to systems often criticized for opacity and complexity.
Fujitsu tests blockchain tracking for green steel
In Japan, Fujitsu has begun a large-scale demonstration experiment designed to track the environmental value of green steel as it moves through the supply chain. The project, which started in December 2025 and will run through February 2026, was selected by the Ministry of Economy, Trade and Industry as part of its FY2025 Industrial Research Project.
Formally titled the Survey Project on the Transmission of Green Steel Information Linked to Steel Materials Across Supply Chains, the initiative tackles a central problem facing manufacturers: how to ensure that the CO2-reduction value of green steel is accurately preserved as materials pass from producers to processors and eventually to end users.
Fujitsu’s system combines blockchain technology with a dedicated data distribution platform and the company’s own expertise in CO2 emission-reduction materials. The aim is to securely and confidentially distribute environmental value data without the risk of duplication or tampering.
A key focus of the trial is preventing double-counting, a scenario in which the same green steel certificate could be claimed multiple times as products move through different stages of production. Using blockchain’s immutable records, Fujitsu plans to distribute third-party-certified green steel certificates that remain unique and verifiable throughout the process.
The experiment comes as the steel industry faces growing pressure to cut emissions. New production approaches such as GX Mass Balance and GX Allocation are gaining ground, but industry observers note that maintaining the integrity of their environmental benefits across complex supply chains remains a major hurdle. Fujitsu’s approach, built around its Uvance business model, is intended to allow secure and flexible sharing of environmental data not only within Japan but potentially across borders.
Looking beyond the current trial, Fujitsu has said it will use the findings to develop broader mechanisms for green steel information distribution. The company also plans to explore the creation of a “steel industry data space” beginning in 2026, positioning the effort as part of a wider push to support both decarbonization and digital transformation in manufacturing.
Figure brings equity issuance onto the blockchain
On the same day, Figure Technology Solutions Inc. revealed a very different use of blockchain with the launch of the On-Chain Public Equity Network, known as OPEN. The platform allows companies to issue equity directly on Figure’s Provenance blockchain, targeting inefficiencies in traditional stock ownership and lending.
Unlike earlier attempts to tokenize equities, OPEN issues blockchain-based shares that represent actual equity ownership rather than synthetic or derivative tokens. These digital shares carry the same rights and value as conventional stock, a distinction Figure says is critical to regulatory acceptance and market trust.
OPEN is designed to enable investors to lend and borrow shares directly with one another, bypassing intermediaries such as prime brokers. By recording transactions on an immutable blockchain ledger, the system aims to reduce costs, simplify settlement, and increase transparency in a market long criticized for its reliance on opaque middlemen and heavy paperwork.
The move arrives as interest grows among both institutional and retail investors in blockchain-based financial infrastructure. The Provenance blockchain, which underpins OPEN, is already used in digital lending and asset management. With this expansion, Figure is positioning direct, peer-to-peer equity exchange as the next step in that evolution.
Both initiatives face hurdles ahead. Fujitsu must demonstrate that its data distribution platform can scale and gain acceptance across the global steel industry. Figure, meanwhile, will need companies, investors, and regulators to embrace a new framework for issuing and lending shares.
Still, the announcements highlight a shift away from blockchain’s speculative image toward practical deployments. Whether tracking the environmental value of steel or reshaping equity markets, Fujitsu and Figure are placing their bets on blockchain as a tool for solving real-world industrial and financial problems.
