Solve Enterprise Complexity Challenges with Dragonchain
In today's digital landscape, companies face complex challenges like never before. The rapid innovation and deployment of new technologies have led to a collection of business systems that are difficult to manage, maintain, and secure. Further, multiple departments, stakeholders, and intermediaries within organizations can create information silos that are expensive to manage and present security risks. An Enterprise must also adapt to an increasingly aware customer base that expects security and demands privacy.
Dragonchain can provide a streamlined solution for business leaders to overcome these challenges and optimize their operations by providing a trusted and secure environment with selective transparency to store and share information without exposing sensitive information.
What is the Enterprise Complexity Challenge?
The Enterprise Complexity Challenge refers to the difficulty faced by large organizations in managing and streamlining their operations due to the complexity of their business processes, IT systems, and organizational structures. As companies grow and expand, their operations become increasingly diverse, making it a challenge to maintain efficiency, agility, and innovation.
For instance, a large multinational corporation may have multiple business units operating across different geographies, each with its own set of processes, systems, and regulations. These units may also have different goals, cultures, and communication styles, making it challenging to align their activities and achieve a unified vision.
The Role of Blockchain in Enterprise Complexity
Blockchain can simplify and streamline operations to provide a more efficient and secure way of managing all aspects of the Enterprise.
Benefits of Using Blockchain to Solve the Enterprise Complexity Challenge
Blockchain technology provides a secure and transparent way to manage and share data among multiple parties.
The most well-known benefits of using blockchain are:
- Eliminate the need for intermediaries
- Ensuring that on-chain data cannot be altered or deleted
- Real-time visibility into the movement of goods
- Reduce the risk of fraud or counterfeiting
- Enhance data security
- Protect privacy
These features of blockchain technology can result in faster and more efficient processes, as well as cost savings for businesses. Blockchain also provides a high level of trust and accountability that can serve as a common platform for data exchange. This will reduce the overall complexity of Enterprise IT infrastructures and simplify communication between different departments or partners.
Challenges to Implementing Blockchain to Solve Enterprise Complexity
Implementing blockchain technology is not always easy. Businesses often shy away from blockchain solutions that address complexity for several reasons.
Most blockchain integrations can be complex and typically require changes to existing business systems. Since integration can be difficult and blockchain protocols all have different features, security measures, and consensus mechanisms, some people advocate for a series of standards so that there are universal blockchain protocols to be used for integration. However, those standards do not yet exist on a broad scale.
Scalability and interoperability are also challenges when implementing a blockchain solution as most Enterprise use cases require blockchain solutions to handle large volumes of data from a vast network of disparate systems to which most blockchains struggle to connect.
Additionally, maintaining regulatory compliance while leveraging blockchain is difficult as blockchains have different data storage and security protocols which can be at odds with data privacy, security, and ownership regulations.
Dragonchain Enterprise Complexity Solutions
Dragonchain provides workable solutions to address the above Enterprise complexity challenges that other blockchains can not.
Our patented interoperability technology allows businesses to finally harness all their siloed data. We can integrate our blockchain solutions into any existing business system, blockchain, IoT device, or AI protocol today through a simple RESTful API connection.
In situations where two systems may be incompatible, we use smart contracts to act as glue code between systems. No existing business system needs to be replaced or modified unless the business wishes to do so. This allows businesses complete flexibility to integrate with any blockchain network through Dragonchain without the need for a set of standards.
Learn more about our interoperability technology here!
The same interoperability technology that allows businesses to connect all their disparate data silos is an important component of our scalable architecture. Our platform is infinitely scalable and can then handle any level of transactional throughput the business requires. The system can even scale up without affecting the business’s network or the Dragonchain network.
Learn more about our scalability here!
Maintaining regulatory compliance is very simple with Dragonchain. Our hybrid architecture allows businesses to segregate data in a manner that is consistent with regulations. Businesses across every jurisdiction have the flexibility to structure their compliance protocols to meet their particular regulatory frameworks.
Learn more about GDPR compliance on blockchain here!
Key Features of a Dragonchain Enterprise Complexity Solution
Supply Chain Management Solutions
One of the most significant challenges facing today’s Enterprise is managing their supply chain. With multiple parties involved, it can be challenging to track the movement of goods, ensure product quality, and prevent fraud.
Dragonchain offers a comprehensive supply chain management solution that includes a full line-of-sight into any step of the supply chain. We also offer blockchain-based predictive analytics to analyze current and past business events so that businesses can improve any workflow process.
Additionally, we offer Enterprise NFTs (ENFTs) for data access control, data tracking, and streamlining finances. These ENFTs coupled with an IoT integration can serve as a record and proof of shipment. By placing a unique digital identifier on each product, the Enterprise can ensure that their products are genuine and consumers can be confident that they are getting what is expected. This information can also be used to identify areas where the supply chain may have broken down on a more granular level giving the Enterprise more control over its entire supply chain.
Dragonchain’s supply chain management solutions reduce intermediaries, enhancing efficiency, and reducing the risk of fraud and errors.
Learn more about our supply chain management solutions here!
Improve Data Privacy
Data privacy is a growing concern for Enterprises in today's digital age. With the rise of cyber threats and data breaches, organizations need to ensure that their data is secure and protected.
Dragonchain can help ensure data protection by providing data segregation through our hybrid architecture. With our hybrid architecture, the Enterprise maintains sensitive information on its own private blockchain to leverage the blockchain’s immutability.
To verify and validate the data on the business blockchain, transaction proofs are sent through a series of decentralized public blockchains without exposing sensitive information. This process allows any business to selectively choose what information to share and to whom.
We also offer Advanced Identity technology that allows users to control their own data. This limits what information is shared, to whom that information is shared, and for how long they can access that information. Businesses that welcome user-controlled identity data can severely mitigate their level of exposure to bad actors.
Businesses can also use the Advanced Identity technology to limit data access from within the wall of the organization as well as limit data access to partners, and IoT devices.
Learn more about data privacy here!
Enhance Data Security
Data security is another critical challenge facing today’s Enterprise. With the amount of digital data stored and shared by organizations, it can be challenging to ensure security and protection from cyber threats.
Dragonchain can help the Enterprise enhance its data security by providing a tamper-proof ledger on its own blockchain to securely store data. Businesses can optionally leverage our quantum-safe signing capabilities built right into the platform or they can integrate a quantum-safe solution of their choosing.
Since Dragonchain separates the private and proprietary data from the proof of the transaction, businesses remain in control of their data and can prove past data states at any point in the future with $4 billion worth of measurable security per transaction each year.
We also offer a comprehensive ransomware protection system. The system includes GDPR, CCPA, and HIPAA compatible data segregation that leverages multiple blockchain networks for measurable proof of data immutability. This data mirroring and disaster recovery technology includes automated backup verification and restoration and ensures the accuracy and integrity of recovered data.
Additionally, we are the first to offer smart contract gated data access (SC-GDA) for comprehensive data integrity. With SC-GDA, all data access is only granted via smart contract through key-based or traditional authorization methods. Every time someone accesses data the interaction is recorded on-chain. This technology can be leveraged for employee and customer data access as well as to secure IoT devices and remote access points. SC-GDA gives businesses full transparency into all their data. This allows them to know who has accessed the data and if the data has been compromised.
Learn more about smart contracting gated data access here!
Blockchain technology provides a transparent and immutable ledger that can track the movement of goods and the authenticity of products. Unfortunately, with most blockchains, this comes with a risk of exposing private and proprietary information. Dragonchain helps the Enterprise further build trust by providing a secure platform with selective transparency for storing and sharing selected data.
Dragonchain architecture naturally allows businesses to independently share selected data with partners, customers, or regulators. To expand on this level of selective transparency, businesses can create a dashboard that allows all stakeholders to view any data set in real-time. This can help build stakeholder confidence by improving, verifying authenticity, and reducing fraud without exposing sensitive identifying information.
Reduce Costs and Increase Efficiency
Maintaining the quality of products and services while trying to increase efficiencies and reduce costs has always been difficult. Dragonchain offers the Enterprise a comprehensive smart contract system that includes our patented smart contract orchestration technology.
Our smart contracts are bi-directional. Meaning, they publish and watch for information acting as self-oracles. Time-based smart contracts are customizable and can be programmed to execute at a specific time or interval. Watcher smart contracts execute based on events or state changes on other blockchains or traditional systems.
Additionally, our patented smart contract orchestration technology allows businesses to add, edit, or delete any step in a prescribed workflow process without a complete overwrite of the smart contract.
This two-way automation coupled with unprecedented smart contract flexibility can eliminate intermediaries which will improve the efficiency of operations and reduce costs.
Dragonchain offers unique solutions to address the Enterprise Complexity Challenge. By providing a hybrid platform for interoperability, scalability, security, privacy, and selective transparency businesses can streamline their operations, reduce costs, increase efficiency, and build trust with their customers and stakeholders.
As today’s Enterprise continues to grow, it will face new challenges. Dragonchain allows your business to stay ahead of rapidly changing technology. Any Enterprise can benefit from all of the above solutions by leveraging the Dragonchain platform.
Contact us today to get started!