Blockchain Workflow for Extended Business Actions & Transactions
Blockchain is a decentralized distributed technology designed specifically to transform businesses for exponential improvement in customer journey. At its core, Blockchain is a shared digital ledger encompassing a list of connected blocks stored on a decentralized distributed network that is secured through cryptography. Hash is irreversibly encrypted alphanumeric string. The data stored on blocks are unreadable without keys and unhackable by SHA-3 256 bit encryption even by quantum computers. The block contains encrypted information and hashed pointed to a previous block, making it difficult to retroactively alter without modifying the entire chain and the replicas within the peer network. This reversibility is mathematically impossible to achieve even with all the earth’s computing power. New blocks are added by rule based validation by peers on the network, providing credibility and preventing malicious activity as well as policy violations. Blockchain, through which the entire network contributes to data validation, brings trust to the entire eco-system. In addition, because data is stored in a decentralized manner, the integration of data is simplified—all systems can connect to any node to participate in process based on network rules.
SMARTNOVUS is an enterprise blockchain based workflow platform. This platform connects and automates workflows for internal as well as external businesses. Anyone with basic knowledge of drawing process maps can build processes and deploy for large workforce. The platform can be hosted in-house or on our cloud.
It has DAG (Direct acyclic graphs) consensus mechanism for high bandwidth applications and SHA3-256 bit quantum resistant encryption for future proof privacy. The smart contracts are auto- generated and tenancy is self managed for seamless performance.
Although, blockchain has been on a stealth course in government as well as private sector in recent months, we have built SMARTNOVUS to fulfill transient and long term needs of our clients. SMARTNOVUS fills the gap where conventional IT has failed so far. We combine our years of experience in practice and cutting edge technology offering through SMARTNOVUS platform to bring the extended business transactions. Such extended business is about processes where your IT environments cannot reach, like IT environments of your suppliers, partners, sister organizations, departments or sub-departments. Large batch dumps and data integrations don’t cut it. They are slow and break prone. To make an apple to apple comparison, you should think about how bitcoin and such blockchain or digital products are disrupting large businesses layer by layer. These products don’t wait for 24 hour batch runs or weekly data reconciliation. These products provide their customers everything in real-time in that moment. These products are fintechs, healthtech, e-commerce and govtechs. And that’s what the world wants and is moving on to. SMARTNOVUS provides that kind of realtimeness capabilities to your large organization for transformation.