11 Solutions for a Successful Business Blockchain Implementation
Dragonchain understands the decision to implement blockchain technology is not one that businesses take lightly. There is much to understand about this novel technology that often gets buried in news headlines that have nothing to do with the real-world problems businesses are facing today.
From connecting global businesses and proving compliance to data protection challenges and security breaches businesses are in constant state of flux as technology continues to advance at a rapid pace.
Businesses must find ways to automate workflows while ensuring specific entities have access to only the data they need. And brands must find new ways to engage with consumers and partners while taking care of our environment.
Dragonchain addresses these challenges and bridges the gap between legacy and emerging technology while being mindful of a business’s culture and best practices.
What does this mean for your business?
Our platform of capabilities offer your business realistic solutions to your most challenging problems.
Learn more about our fundamentals here!
We offer many solutions to ensure a successful implementation. Let’s look at a few.
Scalable and Interoperable Blockchain Platform
Dragonchain offers the most comprehensive blockchain integration for businesses in operation today. Businesses can create their own interoperable blockchain platform in under 10 minutes with only 3 clicks. Once a business has its own blockchain, it can use any combination of commodity hardware, operating systems, and platforms with our patented interoperability technology to connect to any business system or other blockchain network with the use of a RESTful API based integration model.
Dragonchain’s patented architecture is independently scalable by design and allows businesses to scale up or scale down operations as workflows change. Our Context-Based Verification consensus model removes sensitive and proprietary data from the verification process. All business data remains at the business level and is private and protected unless explicitly permissioned otherwise. Every transaction on the business’s blockchain is immediately usable and, in time, is provable to an increasing level of decentralized consensus by 2000 other interoperable blockchains including Bitcoin and Ethereum.
This separation of data allows businesses to adhere to GDPR/CCPA and other regulatory requirements, such as HIPAA and safeguards personal identifiable information (PII) from end to end. This is also a superior solution to other platforms that cite Zero-Knowledge proof technology in an attempt to solve these issues.
Since we remove the decentralized verification process from the business, any increase in business data does not affect its network speeds. Likewise, as the Dragonchain network grows any additional businesses using Dragon Net will not affect network congestion on your blockchain. The entire system mitigates the surprise change in fees and bogged down networks that affect operations and keep business from building important features on blockchain.
What does this mean for your business?
This level of independence gives your business the flexibility to selectively choose the solutions you want to build and integrate with the infrastructures you already use or want to use. It also allows your business to quickly adjust operations by adding and removing systems as needed, saving time and resources.
Learn more about our architecture here!
Decentralized Identity System
Decentralized identity helps businesses protect the identity of its customers, employees, and systems. Factor is a GDPR and CCPA capable decentralized identity management platform that increases security, reduces risks associated with customer PII storage, and simplifies authentication. Businesses can integrate Factor with traditional systems and identity logs as well as blockchain systems through a RESTful API integration.
The system separates pieces of identifying information into granular elements to prove someone is who they claim they are. Factors can be shared with interested parties individually or grouped together. Factor can also prove that a user is human and not a bot impersonating someone. The system offers an intuitive recovery system that is understandable to normal people.
A decentralized identity system for devices is a crucial element for data protection. We can apply Factor to any Internet of Things (IoT) smart device or sensor to prove the device trying to access a business system is as claimed. As the number of devices grows, more and more will be associated with some identifying information and given access to sensitive data and Factor can protect that data.
With Factor, identity components are, for the most part, not stored on the business’ servers but stored by customers themselves offering better protection for the business and the customer and allowing businesses to easily adhere to GDPR/CCPA regulations.
Once these factors are in place, the identity proof can be re-used and even monetized by the business. The company that originally performed the verification process will be credited when the customer uses the Identity Factor information with another company to recapture some of what they spent for the original verification. This incentivizes the re-use of factors and is much more convenient for both companies and the customer.
What does this mean for your business?
From hospital systems to retail stores to government agencies, no entity is immune to nefarious actors trying to access vast amounts of data. Your business will find enormous protection against internal and external data breaches with the use of Factor. Your business can mitigate its risk and decrease its liability from storing sensitive information.
Security and Quantum Encryption
Since we started with Disney in 2014, one of our primary objectives was to secure business data. We advocate for traditional best practices when it comes to security. But, we also believe that the answer to securing data is to put security front and center, making it the first layer of any solution. Our architectural approach to securing data is what sets us apart.
We use a hybrid blockchain architecture as a security feature by separating the sensitive and proprietary data from the decentralized verification process. Businesses can secure sensitive information at the Enterprise level and then selectively choose what data to distribute and to whom. The data payload from every transaction never changes hands nor is it exposed in any way. Instead, only the proof of the data is sent for decentralized verification. Every transaction on Dragon Net is secured with the combined measurable security of Bitcoin and Ethereum.
We’re a leader in blockchain security with the incorporation of advanced quantum encryption and signing technology at the base of our architecture. Businesses can secure their sensitive data with strong and efficient quantum-safe encryption to safeguard its data at rest and in motion.
To maliciously alter or otherwise attack data a nefarious actor would need to compromise the business’s blockchain, the entire network of independent distributed decentralized verification blockchains (Dragon Net), and all public networks connected via Interchain (i.e. Bitcoin and Ethereum) at great cost.
What does this mean for your business?
With the recent Memorandum on Improving the Cybersecurity of National Security, Department of Defense, and Intelligence Community Systems aiming to set the standard for the protection of the nation’s systems and its data protection, your business can be proactive and safeguard its data and systems with minimal disruption to protect against threats now and into the future.
Learn more about how we can secure data here!
Line-of-Sight Transparency System
Dragonchain’s line-of-sight transparency system connects disparate off-the-shelf software applications for complete visibility into the events taking place within a business as well as along its supply chains. Our line-of-sight transparency system offers improved transparency between employees and the business as well as with the business's partners. We use our patented interoperability technology to ledger data from all of the business’s systems as well as information from business partners. On-chain workflows and productivity can then be analyzed and its effectiveness measured.
Our line-of-sight transparency system allows businesses to truly take advantage of blockchain technology. Since the Dragonchain architecture uniquely provides for unlimited scalability and interoperability, a business can connect any number of systems, to put as much data on-chain as possible. Businesses can then obtain and access ubiquitous amounts of data that may not have seemed important at that time but they can use as proof right now or at some point in the future. Access to historical data sets can be used for analytics and process improvements as well as serve in legal disputes and brings immense value to a business.
We understand that not all business data should be exposed. Our hybrid architecture allows a business complete visibility into its operations while at the same time the ability to selectively choose what information is shared amongst employees and partners.
What does this mean for your business?
Your business can use on-chain data in its predictive analytics to improve any workflow process and ensure more accurate self-reporting from partners to better prepare for future events. With our line-of-sight transparency system, your business can finally obtain, control, and use all the data that pertains to your organization, now and into the future, without risking exposure to sensitive information.
Learn more about our line-of-sight technology here!
Interoperable Smart Contracts
Dragonchain smart contracts allow businesses to build real-world applications by leveraging existing business systems as well as other blockchains to automate any process from tracking and ledgering to predictive analytics and supply chain management. Dragonchain offers a unique smart contract platform that brings increased flexibility and functionality to smart contracts.
Accessible and Simplified Creation
The most effective smart contracts are those that can be written by the very IT staff the business already employs. Dragonchain’s smart contracts can be written in any executable code, such as Go, Python, Node, Java, and others so businesses can automate any real-world application. This ability is immensely valuable because the in-house staff is already familiar with the business's workflow and culture and will produce more productive smart contracts.
Independently Scalable
As with the platform, Dragonchain's smart contacts are independently scalable. Deployed in a Docker container, our smart contracts offer flexible integrations and minimal disruptions when adding new applications. These smart contracts are private unless explicitly permissioned otherwise and ensure that sensitive business data and proprietary information are kept private.
True Workflow Automation
Other blockchain networks are inert and need an external entity to call a smart contract to execute a process, leading to complex patterns of 3rd party “oracles” to connect the system to necessary data. Dragonchain smart contracts can act as self-oracles by publishing and watching for information from any source for complete automation.
Patented Smart Contract Orchestration
Modeled after the architecture of the Internet, our patented Smart Contract Orchestration system allows businesses to add a smart contract to ledgered steps in a workflow process for added flexibility and efficiency. Any workflow process can be added, updated, or deleted without a complete rewrite of the smart contract saving time, money, and developer resources.
What does this mean for your business?
Your business’s existing IT team can easily create functional and flexible smart contracts for true automation of any workflow process within your organization.
Learn more about our smart contracts here!
Archival and Proof Systems
Dragonchain’s archival and proof systems leverage multiple blockchain systems to prove that transactions occurred at some point in the past with billions of dollars of measurable proof.
The system captures, signs, and timestamps every on-chain business transaction and event. Each transaction creates a proof report containing the essential historical information showing the transaction ID, timestamp, raw data, and the hash of Ethereum or Bitcoin.
Unique to Dragonchain is the Transaction Security Value (TSV). The TSV is visible on all proof reports in real-time and shows, in $USD, how much network hash power has been applied to secure each transaction. This amount grows as more Ethereum and Bitcoin blocks are added to the chain over time.
A proof report can be used to prove regulatory compliance and data records. Businesses can also use proof reports to authenticate products, prove brand integrity, and prove business practices. The report can selectively expose all or part of any transaction class to customers, regulators, or any third party to prove chain of custody.
What does this mean for your business?
Your business can provide proof of compliance to consumers, regulators, and partners of industry regulations and standards. You can also restore and maintain trust between consumers and partners through automation and independent verification without exposing sensitive information to offer assurance that events are as stated for long-lasting relationships with the entities that matter to your business.
Enterprise NFTs
Dragonchain’s Enterprise NFTs can be a very effective tool for business operations. Programmable and customizable NFTs can remove intermediaries and control the flow of information in a private and secure way. NFTs on Dragonchain provide unlimited scalability and interoperability with IoT devices, RFID tags, or any business system.
NFTs can be used to settle money transfers and track anything from supply chain information to greenhouse gas emissions to how long someone has viewed a video. Businesses can also use Dragonchain’s Enterprise NFT for identity authentication to control access to physical or virtual facilities or data.
For businesses looking to use blockchain, NFTs can offer freedom from jurisdictional regulations
and the use of exchanges. All programmable functions can be internally mapped to a standard legal agreement through smart contracts
What does this mean for your business?
NFTs will allow your business to control who has access to its data and better track the flow of information. Your business will have more flexibility to interact with partners and customers on an individual level to better meet the needs of all parties.
Learn more about Enterprise NFTs here!
Behavior Systems
Dragonchain pioneered the use of Behavior Systems to motivate employees, partners, and consumers to follow prescribed workflow processes, take specific actions, and maintain regulatory compliance.
Incentives can be used to encourage employees or partners to report adverse events truthfully and in full to give businesses better transparency of events in and around their business. Businesses can quickly identify inefficiencies and take immediate corrective action.
Dragonchain can also build behavior-based marketplaces to motivate business partners to accurately report data for better quality data sets.
Our behavior systems are used in loyalty & rewards programs for increased functionality. Our customizable loyalty and rewards system can increase engagement and lead to increased redemption rates. Rewards can be distributed via points or a token, including a non-fungible token (NFT). Dragonchain's incentivization system is flexible enough that a business can transition from a points-based system to a token or NFT access system easily as the need arises.
We also offer a unique system to prove randomness in a selection process. Our provably fair technology provides measurable and immutable proof that a contest, raffle, sweepstakes, or eSports tournament is fair to all participants.
What does this mean for your business?
With behavior systems, your business can gain valuable quality data sets to identify areas for workflow improvements, accurately prepare for future events, and analyze and fine-tune future initiatives. Your business can re-engage its customers and prove authenticity in a selection process to strengthen brand loyalty.
Learn more about our behavior system technology here!
Decentralized Social Media
We applied our behavior system technology to a social media platform to incentivize the rapid evaluation of quality content based on business goals within a marketplace. Every action, post, comment, and vote is on-chain. The platform offers NFT based ownership of individual communities with passive income to incentivize people to build better communities.
Businesses can build a branded community to engage with their customers and reward their most valuable followers. Our Governance as a Service allows businesses to distribute ownership and grant access to a branded community to allow members to craft messages and promote the brand.
We also offer businesses a completely new way to advertise. We believe the best content will not be seen as an ad. Our risk-based advertising system is content-based where advertisers can see up to 85% of the ad buy returned if the ad is well received.
Businesses can even white-label Den for an entire platform of communities that matter to them.
What does this mean for your business?
Your business has access to a social platform that is completely under your control. Our decentralized social platform model ensures your business has the freedom to engage with its community in any way it chooses.
Learn more about Governance as a Service here!
Sustainability Systems
Dragonchain offers the only comprehensive system to record, track, and account for all environmental data on an energy-efficient platform. Our sustainability products will allow businesses to harness the power and security of blockchain while remaining environmentally responsible.
Carbon Recording, Tracking, and Accounting
Dragonchain’s patented interoperability technology allows any business to connect IoT devices and sensors to any system for the accurate real-time recording and tracking of climate and manufacturing-related data. Businesses can then provide measurable proof to regulators and climate-aware consumers that their carbon footprint is as stated.
We offer businesses the ability to use tokens to represent carbon credits and offsets. Businesses can then use these tokenized credits in marketplaces for increased value. A marketplace can also be used to incentivize partners to accurately report climate-related data and to reduce their own carbon footprint which has a rippling effect and reduces the business’s overall carbon footprint.
As mentioned earlier, Enterprise NFTs can provide access controls to climate-related data sets and can be used for licensing, permitting, and financial matters. Businesses can even use NFTs to reward partners for meeting sustainability goals.
Learn more about our climate-related tracking capabilities here!
Dragonchain is Energy Efficient
Due to the well-designed architecture businesses can use the Dragonchain platform and be energy efficient. Not only is our platform infrastructure (including managed nodes), by default, hosted in carbon-neutral facilities, but our verification platform, Dragon Net, operates at just 0.02 Watts of energy per transaction. More powerful than this minute amount of energy is the security it affords businesses. Proof of every business transaction is secured with approximately $4 billion worth of measured network energy per year while using only 0.02 W per transaction.
Learn more about our energy efficiency here!
What does this mean for your business?
Your business can now use blockchain technology efficiently and responsibly to accurately record, track, and account of its entire carbon footprint in a scalable way.
Consulting and Blockchain Development Services
Businesses interested in blockchain but are unsure where to begin will gain valuable insights from the Dragonchain Consulting team. We help businesses implement flexible blockchain solutions to address their real-world business problems. We offer blockchain development of PoC and production systems as well as whitepaper services.
We have a long history of blockchain education and the unique ability to bridge the gap between traditional business processes and new technologies. We have proven strategies for flexible integrations, low operational costs, and quick time to market. We help businesses through the entire process.
What does this mean for your business?
Your business will save valuable time and resources by utilizing our consulting services, taking the guesswork out of implementing blockchain solutions. Let our experience work for you!
Contact us today to get started!
