Many Organizations Need a Scalable Solution to Access Data Across Multiple Blockchains. to Address This Issue, Certipath Leveraged Its Data Aggregation Experience to Develop the Open-Source Distributed Ledger Technology (DLT) Gateway.
CertiPath announced it received final sign-off on its yearlong effort to create a blockchain gateway on behalf of the Department of Homeland Security Science and Technology Directorate (S&T).
While blockchain is often associated with cryptocurrency applications, the technology proves to be a game changer in transaction logs that span multiple enterprises that require non-repudiation. There are several regulatory enforcement agencies across the US Government that have the opportunity to participate in these digital ledgers and recognize immediate efficiencies.
Read More: Credorax Partners With Raisin to Offer Exclusive Banking Products to German Market
There are challenges for organizations that must participate in multiple blockchains simultaneously. In this relatively new space of distributed ledgers, little work has been done to ensure usage at scale will be possible across a range of stakeholders. These potential “uber-users” of blockchain have not yet been addressed; the DLT Gateway is a solution.
DHS Custom and Border Protection (CBP) is an example of an organization that needs a point of aggregation, both for participation in ledgers but also in the collection and normalization of the transactional data itself.
Read More: Financial Planning: One Small Step 50 Years Ago
“We saw that organizations such as CBP, charged with understanding the importation of goods, were up against immense challenges when foodborne illness outbreaks occurred. CBP participating in blockchains will be a quantum leap forward in their ability to instantly access data. However, CBP cannot prescribe to commercial organizations what specific ledgers they must use,” said Jeff Nigriny, President of CertiPath. “CBP, in this way, must be able to participate in as many blockchains as are represented by all those they serve and normalize the data they receive.”
