& OVERLAY LEDGER SOLUTIONS
Designed for massive scale with enterprise grade security, performance and legal compliance built-in delivered as a service or deployed on premise to enable ease of integration, development and operation
When we ask people what they want, they say...
FileChain transforms each pain reliever into a gain creator which drives mainstream adoption
We co-create solutions our partners and customers want
Intermediary and platform business models require multiple fits. We strive
to address some of the most important jobs and pains customers have.
We spark ideas together with you to create value for your customers and your business and support you in turning our technology into viable business by inventing or improving existing businesses.
FileChain allows you to build prototypes to shape your ideas, figure out what could work and what hypothesis need to be true to succeed.
Scalability is one of the major roadblocks to main stream business adoption of distributed ledger technology. Why is it so hard to solve?
FileChain is a permissioned ledger of data without its own token or cryptocurrency eliminating by design the inherent scalability limitations associated with double-spending. The lack of requirements to run on any specific computing environment provide FileChain with good vertical scaling capabilities. Unlimited instances of the node application running the ledger and agent application transacting on that ledger can be deployed to also provide excellent horizontal scaling. In addition, FileChain also enables very natural sharding of the data model with the possibility of running many ad-hoc miniature ledgers at the edge to meet the scalability and performance requirements of any large enterprise-grade, industry-wide deployment.
What is interoperability and why is it important?
The ability to interact and integrate is fundamental to grow network effects. Hence, decentralisation and interoperability are closely interconnected. FileChain can promote standardised data models to streamline interactions but does not impose any rigid data model itself. Instead, it provides the means for business partners to agree on the most optimal way to collaborate with each other for the best interoperability based on existing IT infrastructure and current business workflows. FileChain reference implementation is a java based REST application that allows for easy integration with existing information systems. FileChain is easy to deploy both on any Kubernetes based system in the cloud or on premise as well as embedded into devices, and it can be used as a connector between existing systems and other distributed ledger technologies.
Why smart contracts are not smart and why is reactivity a key differentiator for business agility?
FileChain does not rely on smart contracts as their hard-coded logic is intended to be self-executing and self-enforcing. This makes smart contracts rigid as they are failing by nature to capture any special case in a timely fashion without lengthy development and testing cycles, that results in increased time to market and shorten reactivity to align with business imperatives. Without formal proof, smart contracts constantly remain subject to malicious abuse leading to potential loss of money, leak of sensitive information or bad reputation and remain hardly enforceable by a judicial system because of their lack of clear ownership at the time of execution. FileChain forms a verifiable history of time stamped events and transactions that allows contracts and agreements to be fully digitalised and agreed upon between actors and provides all necessary means of audit and investigation to resolve any legal dispute in no time. Therefore FileChain can digitalise, execute and monitor any workflow between business peers and enable easy evolution of those processes over time to constantly adapt to changing environments.
How can full traceability be un(b)locked?
Each FileChain ledger enables a consortium of parties such as individuals, private organisations, public administrations, devices or systems to transact with each other. All digital identities are based on asymmetric cryptography so that each transaction posted into the ledger is signed to uniquely identify its originator and can be independently verified by all other participants to guarantee provenance. The consensus algorithm based on Proof-Of-Work provides the means for all FileChain nodes to independently converge towards a single chain of blocks and valid transactions all building a common and single ledger in a distributed manner. Contrary to any public blockchain like BitCoin, the target difficulty and computing resources to achieve the appropriate hash rate for this consensus remains low and only reflects the security and business requirements set by each consortium to defend the ledger from attacks while providing a guarantee on the immutability of all past transactions for auditing and traceability over time. Finally, while the content of all transactions is highly encrypted and restricted to specific recipients, metadata in clear text can be attached to each transaction for all participants to gain insights about the data, workflows or asset tokens transacted on a FileChain ledger.