The world is becoming increasingly connected and digitized. Financial applications have been quick to adapt, forming a new digital economy, which has disrupted and transformed markets, allowed companies to conduct business more efficiently, and helped foster the rise of digital services. It has also allowed consumers to interact more freely with these services across various siloed platforms, which has ultimately led to a rise in concerns regarding transparency, privacy, and security of the massive amounts of user data that the digital economy produces and stores.
The transition to a more secure and accountable next-generation web (Web 3.0) and the emerging digital economy requires a new foundation. Blockchains has taken an integrated and holistic approach to enable this fundamental digital transformation for not just a digital economy, but for a new world built to enable a digital lifestyle. Our all-encompassing blockchain platform seeks to put you in control of your digital interactions, online and in the real world.
Your online presence and interactions with companies in the real world that digitize their records create a comprehensive digital identity, and not necessarily one that you have in your control. Currently, your personal data and digital footprint have been recorded and stored with little to no input from you as to how it will be used today or in the future. Instead, it’s largely controlled by the institutions with which you interact: the DMV, the doctor’s office, the bank, social media platforms, search engines, credit rating agencies, and shopping websites. Blockchain technology for decentralized digital identities is paving the way for an important paradigm shift centered around control of your digital identity: you can be in control of your personal data, who has access to what parts of it, and under what conditions.
When thinking of digital assets, cryptocurrency often comes to mind. However, currencies such as bitcoin and Ether do not capture the full range of possibilities offered by the digital asset class. For example, rights to physical assets or even personal identifiable data can also be represented digitally as tokens on blockchain networks. To address the challenges and risks associated with an individual or entity having total control over their digital assets, a secure, user-friendly interface with the means to transact and store those digital assets is fundamental in the development of applications and systems that interact with blockchain-based solutions.
The value of public blockchain networks is limited if we cannot easily access their data and interact with them securely. It is particularly important that the devices or software applications have the capability to verify and validate the information themselves, without reliance on intermediaries who may or may not be trusted. By connecting smart devices to a blockchain – from smartphones and computers to internet-enabled cars, smart locks, advanced manufacturing machines, and security systems – we can facilitate marketplaces, payment services, or even a sharing economy for the Internet of Things. Our resource-optimized blockchain client solves the problem of connecting a device or software application to the blockchain efficiently, removing the need to synchronize all data while still having the capability to verify and validate all data in the device.
While each of our products in development independently resolve specific challenges faced in this transition toward a new digital future, the power of the product suite is supercharged when all of the products operate in concert, whereby a person's digital identity and the things associated with it are protected and verified by our blockchain-based solutions, ultimately enabling trusted interactions with businesses, governments, and each other.
Our planned software development kit (SDK) is set to allow third-party developers to plug into our core products and services to build their own applications without uprooting their own architecture, ultimately, broadening the ecosystem.
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