Client Stories

Helping to bring trust to the blockchain

Share this post:

As smart contracts and blockchain technology reshape the way customers and businesses interact, establishing trust in data is essential. Enterprises are now seeking to manage data as an asset so it is vital that data sources are trusted and verifiable.

Blockchain technology is providing an immutable and indelible shared record of events across business networks. But what happens if the original data input to the Blockchain is unreliable or open to dispute?

A new player has emerged that aims to solve this issue by providing a digital protocol powered by distributed consensus. The Proof of Trust is a blockchain-based platform that brings immutability and distributed trust for smart contracts and data input. The platform has developed an innovative anti-collusion algorithm that takes the risk out of smart contracts so they can gain institutional adoption. This disruptive technology validates the authenticity of data with a bank of trusted and verified experts before it is put on the blockchain and used to execute smart contracts.

The Proof of Trust Blockchain IBM chart

The Proof of Trust has joined forces with IBM to help build its multi-platform blockchain application. IBM will provide services, expertise and the IBM Blockchain Platform to provide provenance for this delegate ‘subject matter expert’ review process. This will also enable deployment on multiple platform options – IBM Cloud, Redhat Openshift, Azure and AWS.

Development of The Proof of Trust protocol is now complete and there are exciting times ahead. Looking to the future industry specific use cases are exploring the cover of supply chain, cross-border transactions, VAT fraud and insurance, as the platform champions the more effective and trustworthy use of blockchain technology.

Distinguished Engineer and CTO of Blockchain Practice, IBM Global Business Services, UK and Ireland

More Client Stories stories
By Ulrich Schimpel on 16 May, 2019

Blockchain Project Roadmap

Over the past month, Stacy and her peers – all department head of a large government agency – have been frequently exposed to dozens of articles and events around blockchain, talking about the great potential it could unlock in the government domain. Yet, she and her colleagues are struggling to see a feasible approach to […]

Continue reading

By Francesco Melcarne on 1 April, 2019

Using blockchain to improve public safety

Graham is an officer in his country’s counter terrorism police force. Since the rise of social networks, he can draw on many information sources in his investigations and exploit the recent advances in big data technologies. Graham investigates counter terrorism cases where sharing information on threats with intelligence agencies around the globe would be beneficial. […]

Continue reading

By Ulrich Schimpel on 28 March, 2019

Blockchain and Government: International Taxation

It’s the same old story.  International companies and cross-country commuters file their huge bulk of tax declarations once a year. Nancy’s department is responsible for checking these declarations against international tax treaties and local taxation rules, interacting with the companies, employees and other tax authorities to clarify issues and to correct the values where necessary. […]

Continue reading