Billon Group, creator of DLT system, used to tokenize plus Transaction currency And process, today launched Unified Enterprise DLT, its new layer 1 blockchain platform, which combines three asset classes—national currencies, data, and documents—into a single, high-performance distributed ledger (DLT).
“With this platform, we have moved beyond the earlier architecture (which just writes checksums into the hash) to a complex protocol that handles the unique regulatory needs of processing domestic currency transactions and sensitive data. By doing so, For the first time, an enterprise has obtained a platform that can solve a variety of common but difficult problems. These problems may appear in places where the flow of data and funds is critical to the business.”
– Andrzej Horoszczak, Founder and CTO of Billon Group
Unified enterprise DLT functions include:
- Regulated digital cash – Embedded business logic manages KYC and AML restrictions. It enables banks to issue digital cash and control the transaction limits of each individual or corporate wallet.
- Trusted document management – Enables organizations to put entire documents and even complex business logic “on the chain”-without expensive offline storage and expensive backups.
- Tokenization of data and other assets – Link multiple data and asset types to sovereign identities to solve complex multi-party data structures.
In addition, Unified Enterprise DLT solves other challenges faced by enterprises, including:
- Multiple shots- Many financial institutions can “issue” customer-supported funds in encrypted form, similar to how the prepaid card business model works.
- high performance- Through a consensus algorithm based on Byzantine consensus and zero-knowledge proof, the system provides the highest transaction throughput on the daily cloud network.
- Low power consumption- Since the system runs in the cloud, its power consumption is lower than the earlier blockchain architectures still in use today. In addition, because the nodes are suitable for smart devices, the power demand of the ecosystem is further distributed in the device network.
- privacy – Unlike many early blockchains, users who do not have the necessary keys cannot see the data. Even network operators cannot see customer data.
- identity – The entire structure is designed to manage partial or full sovereign identities.
Over time, early customers will migrate to the new unified enterprise DLT platform.
Some clients include FIS/Worldpay, Polish Credit Bureau (BIK), Refesson Bank International, ERGO Hestia Insurance Company, Philip Morris, and a new partnership with Sygnity.