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 Michael Conway on 27 June, 2024

How Virgin Money is Humanising Digital Experiences with AI

Today, every company is selling a digital experience – and competition is fierce. Hyper-personalisation is the new high bar for success, as customers demand relevant suggestions and seamless service. But bespoke service is not enough. Customer experiences must also be intuitive, offering people something helpful without them having to ask for it. Generative AI is […]

Continue reading

By Anthony Day on 29 June, 2021

Six steps to solving the sustainability data challenge

Six steps to solving the sustainability data challenge   Over the past 18 months, uptake of some of the United Nations sustainable development goals has accelerated, with some very prominent global enterprises making commitments to environmental and social change. The target date cited by these announcements is 2030. That gives businesses less than nine years […]

Continue reading

By Emma Dawson on 8 October, 2020

Burberry supports IBM interns to develop prototype system for product traceability

Burberry’s technology experts were keen to share their knowledge with a younger generation. With coaching from Burberry, students from IBM’s Extreme Blue internship program developed a prototype system that may help to improve product traceability and provide consumers with deeper insights into a product’s lifecycle.   Burberry’s commitment to sustainability is long-standing, grounded in the […]

Continue reading