#Japan #Tokyo #ScalarDB #ScalarDL #FDUA

Scalar Takes a Major Step into the Financial Data Landscape

In an important move to strengthen its position within the financial technology sector, 株式会社Scalar has recently announced its membership as a special member of the Financial Data Utilization Promotion Association (FDUA). Established in April 2022, FDUA's mission is to enhance the potential of individuals and organizations through financial data, promoting knowledge sharing concerning finance, technology, and organizational development.

Scalar, founded in 2017 and headquartered in Tokyo, Japan, is an innovative startup driven by its mission to "create the future of data management." The company specializes in developing technologies such as its Universal HTAP engine, ScalarDB, and data tampering detection software, ScalarDL. These solutions support financial institutions by ensuring the reliability of transaction management and enhancing data governance, leveraging advanced techniques for data integrity management in distributed environments.

Scalar's Focus Areas in Finance

Scalar is actively tackling several use cases within the financial domain:

• - Modernizing System Infrastructure: Through mainframe modernization, Scalar aims to revamp core systems, enabling a more efficient and reliable financial ecosystem.
• - Data Abstraction and Integrity Management: In hybrid and multi-cloud environments, Scalar provides solutions for abstracting databases while ensuring data integrity.

Furthermore, Scalar addresses critical needs for strengthening data evidence and validation processes:

• - Enhancing Data Provenance: The company focuses on providing evidentiary support to electronic records, such as transaction data, enhancing their reliability.
• - Third-Party Credentials for Identity: Scalar is positioned to manage data authenticity in off-chain realms using Decentralized Identifiers (DID) and Verifiable Credentials (VC).

Collaborating for Industry-Wide Advancement

By joining the FDUA, Scalar intends to leverage its accumulated expertise in data reliability technology to address challenges in the financial sector's data utilization. The collaboration with FDUA opens doors for Scalar to actively engage with fellow member companies, fostering knowledge sharing and organizing workshops and technical sessions. These activities will aim to facilitate joint projects and discussions, ultimately contributing to the financial industry's progressive transformation.

About FDUA

The Financial Data Utilization Promotion Association was founded to create design patterns for the use of AI and data in finance, facilitate information exchange among financial institutions and stakeholders, and organize competitions to showcase the appeal of financial data analytics. Their headquarters is also located in Tokyo.

About Scalar

Based in Tokyo and San Francisco, Scalar continues to grow as a global startup dedicated to reshaping data management methods. Its innovative products, ScalarDB and ScalarDL, represent cutting-edge solutions aimed at overcoming data authenticity challenges in various concurrent environments. To learn more about Scalar and its offerings, further details can be found on their official website.

Scalar's membership with FDUA marks a pivotal chapter in its commitment to driving data innovation in the financial industry, emphasizing collaboration and forward-thinking strategies to adapt to the rapidly evolving data landscape.