about our partner
Blockchain is most popularly associated with cryptocurrency, but the goal of Block Drive is to help expand blockchain technology outside of its most well-known use.
What is blockchain? Blockchain technology is essentially a global, public, cryptographically secure (and therefore trusted) ledger that automatically records and verifies large volumes of digital transactions. Blockchain is made up of three core technologies: private key cryptography, distributed peer-to-peer networks with shared ledgers and protocols for performing transactions as well as ensuring security and record-keeping.
Utilizing this technology, they have created a platform that allows you to simplify complicated, expensive audit and or product tracking by collecting and recording all important data and files in blockchain. The data stored in blockchain is immutable, secure, and stamped with who and when precise transaction details occurred.
Sharing the audit or tracked data is also simple for internal or external users. The administrator can set permissions of who can and can’t view the data. It’s as easy as checking a box to choose what each user of the platform can and can’t see.
BlockDrive revolutionizes data traceability through:
- Increased Security – Having strategically aligned their company with Amazon, Microsoft, Google and Oracle.
- Increased Speed – Transactions and settlements offer immediate distribution.
- Reduces Cost – By eliminating manual processes (i.e. reconciliation between multiple isolated ledgers, administrative processes).
- Reduced Fraud – By time-stamping entries and sharing a common, immutable ledger across the network.
- Reduced Risk – They eliminate single points of failure & attack through distributed network nodes.