Summary
A legal tech company who has developed an in-house platform for the collaborative and programmatic certification of linked structured data on blockchain.
The platform can be applied to any business domain which needs to certify multiple actors, assets, interactions and timelines of events among these, operating on Ethereum provides different GDPR compliant privacy modes, optional anchoring on Bitcoin and eIDAS, transaction cost optimisation.
Description
The blockchain is an effective tool for data certification as it is economical, programmable and interoperable. However, the automation of blockchain operations requires specific skills and are subject to security risks (such as the correct custody of private keys).
Several corporates in different fields (judicial auctions, real estate crowdfunding, precious metals market) are using this solution to automate their budget friendly certification processes using heterogeneous data structures, often requiring interlinking. The company has identified a general purpose architecture that simplifies the writing of structured and linked data on the Ethereum blockchain, through dedicated APIs and web UI, which also provides verification, navigation and data indexing capabilities, and hides the complexity of using crypto wallets and transactions.
The platform simplifies the operations of preparing and writing data on the blockchain, provides data protection mechanisms without compromising verifiability, supports groups of actors (also belonging to different organisations) in coordinating the cooperative certification of data, the platform also supports the execution of any financial workflow that can be performed by a smart contract.
These features allow businesses and organisations to save on integration times, reduce security risks, obtain interoperability and compatibility with third-party players, and implement new decentralized economic scenarios.
The platform receives, verifies and organises the data in items, defined as key/value collections, saving a main copy on a centralised DB. Values can be primitive or references to other items (linking) with specific meaning.
Items are time stamped on the blockchain, ensuring temporal placement and author identification, through various configurable strategies with different scalability limits and costs.
The platform is built as a cloud web app whose services are accessible via UX and REST API.