Taiwan blockchain solutions provider International Trust Machines Corporation (ITM) announced that it will present Blockchain Notary Service (BNS) at the CES 2022. The technology has been adopted by Taiwan’s Ministry of Justice as part of the latest initiative launched by the government to integrate blockchain technology with its legal sector. The start-up will be showcasing its technology at the Taiwan Tech Arena (TTA) Pavilion at CES 2022
Latest Fintech News: Destin POS systems Powerhouse Provider Launches New Website to Better Assist Small Businesses
The capital injection from the world-leading IC design house MediaTek and the Taiwan-based electronics manufacturing giant Wistron has expanded the international reputation of ITM which has transformed its business focus from blockchain software development kit (SDK) to Platform-as-a-Service. With the launch of ITM Blockchain Notary Service (BNS), the company has also addressed data trust issues that have been plaguing a wide variety of industries.
Blockchain is a great solution for data validation and security, but the scalability problem of the technology presents a challenge for companies wishing to use blockchain to record their massive amount of data from IoT devices cost-effectively. With its ground-breaking technology, ITM aims to help enterprises break through the bottleneck and allow them to take advantage of blockchain for IoT applications by targeting three common problems – scalability, privacy and cost.
“Linking SDK to corporate systems is a very complicated process for most companies as it requires experienced blockchain engineers to complete the system integration. In the past, companies had to encrypt data, build a blockchain system and upload data on their own, which proved to be expensive and time-consuming. By using our BNS, companies are now able to shrink an enormous amount of data into a short string of digits, a 32-byte ledger fingerprint can seal one million transactions with the ability for quick auditing of selected data. It is an easy-to-use one-stop service requiring no efforts from companies,” said Julian Chen, Co-Founder and CEO of ITM.
Latest Fintech News: FinTech Leader DigniFi Announces Bridge Funding to Support Continued Growth
ITM BNS leveraged its cutting-edge technology to provide companies with the easiest way to connect their applications or data to Ethereum at zero cost, allowing them to achieve greater efficiency and trust. It is also the first-ever platform to uplink million-scale transactions for free onto Public Blockchain Ethereum. It is possible thanks to the company’s cryptographic security algorithm that transforms into Restful API under an exclusive security protocol to allow for streamlined connection between the company’s data and public blockchain, achieving higher levels of security and TPS with low cost and IoT uplinks.
ITM BNS also allows companies to focus on building their system while easily establishing trustworthy transaction history, time stamp, device ID, and other related information, facilitating smooth communication between different entities. The service features three interfaces, including a web app for everyday users, an API for developers and an IoT SDK for Edge devices.
Latest Fintech News: Anova Financial Networks Activates Wireless Services on 10GBPS Backbone Between Mahwah Direct to NY4
[To share your insights with us, please write to sghosh@martechseries.com]
