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DLT

Blockchain for Enterprise

The way enterprises store and process data doesn’t stay static. New technologies disrupt the status quo. Imagine 10 years from now. It is not far-fetched to predict that ideas currently in their infancy will, by then, have established dominance. Blockchain, with its inherent redefinition of how valuable assets are stored and accessed is one of those technologies.
Blockchain, as devised for Bitcoin, was used to store an abstract asset. The network was public, provided a level of anonymity, and was decentralized in a way that fitted Bitcoin’s philosophy. However, enterprise assets often exist in the real world in a situation where there is good reason to know who has the rights to access the data. A dogmatic approach won’t work; developing blockchain for the enterprise requires that you cherry-pick blockchain innovations, and adapt them, on a case-by-case basis.
Stratis is positioned at the heart of the blockchain industry and its focus is the enterprise. So, let’s explore some of the ways we see blockchain and the enterprise coming together over the next few years.

Moving forward with people you thought were your competitors

Who to trust with your data can be an issue for enterprises, and this issue has led to enterprises not cooperating with other entities. In these situations, data can be duplicated from organization to organization while, at the same time, the risk of being out-of-sync with other data sources remains. Blockchain has been described as “trustless” largely because one of Bitcoin’s innovations was to enable you to transact with a level of anonymity; when everybody has an immutable copy of the data, that’s all you need to know who has what before and after a transaction. Although anonymity is not usually desirable on a blockchain designed for enterprises, the design behind an enterprise blockchain is still unique in that it reduces the level of trust required by participating organizations. Providing an environment where an enterprise can share data with an organization they do not “trust” showcases one of blockchain’s revolutionary cornerstones in an enterprise setting.

Sharing can drive new value in a consortium

Enterprises need to work with official legislation. If the behaviour of the organization is called into question or in the case of a routine audit, it is fundamental that the data depicts the truth. The permissioned model often used by enterprise blockchain allows for a selective transparency. This enables regulatory bodies to hold and access sensitive data as and when required. However, transparency is not a blockchain’s only advantage here. The shared data approach can also help build towards a uniformed, standardized approach to regulation across an industry sector. Pioneering enterprises, who understand the need for regulation, can adopt a blockchain-based strategy which, for example, could receive widespread adoption relatively soon after 50% of the industry sector is signed up.

Not every blockchain solution needs a crypto token

Sometimes blockchain and cryptocurrency tokens are mentioned as if they are inseparable. This isn’t the case. For some business models there is no requirement for a token, and Stratis can implement a DLT solution on a private network to suit these models. However, some enterprises might benefit from some form of token. The token could potentially be listed on a cryptocurrency exchange, on the other hand, it could have a more limited distribution. Rethinking the token as a store of value for enterprises could involve loyalty point schemes and micro-payments, with an emphasis on value and convenience for customers rather than speculation.

Disruptive technologies require radical enablement

Blockchain innovations can also go hand-in-hand with other emergent technologies. The Internet of Things (IoT) is turning formerly dumb objects into sophisticated sensors capable of both streaming and processing data. Machine learning is being applied to these data flows to identify trends and discover previously hidden correlations and connections. A central question here is which method of data storage can facilitate this influx of data, which has such applicability to enterprises. The very fact the IoT opens so many possibilities makes the idea of holding it in traditional out-of-date data silos. Blockchain can, however, evolve with IoT.

You need to do things differently if you want a different result

Enterprises demand that technology serves them and brings visible benefits.
Adapting blockchain to create data solutions for enterprises requires a flexible mindset that takes the strengths of blockchain, as applicable to each case. Perhaps most importantly, blockchain also gives enterprises the opportunity to take another look at their data strategy in tandem with other players in their industry sector.

Stratis Distributed Ledger Technology (DLT)


We are excited to announce that Stratis Distributed Ledger Technology (DLT) is now available as a production release. With a Stratis DLT solution, enterprise customers can deploy private, federated blockchain solutions that are capable of storing and tracking information other than the ownership of a cryptographic token.
Like the Stratis C# Full Node, Stratis DLT is written entirely in C# on the Microsoft .NET Framework. By leveraging the Stratis C# Full Node, a Stratis DLT solution enables enterprises to deploy performant, private and optimised blockchain solutions within their environments. In addition, the features you would expect from an enterprise offering are readily available, including rights assignment and scalability.
Chris Trew, CEO and Founder of Stratis Group Ltd stated:

This is a great achievement for Stratis, enabling Stratis Technologies to be flexible and meet the needs of organizations in both the private and public sectors that require a bespoke private solution.

Stratis is already working with customers to deploy DLT – for more information and to deploy the Stratis DLT solution in your business, contact the Stratis Consultancy team here.

Stratis Q4 Development Roadmap

The Stratis Q4 Development Roadmap is now publicly available and provides an overview of the key deliverables to come from Stratis heading into the new year. Much of this work begun during Q3 of this year and the end of 2018 will see Stratis deliver a number of our core product offerings that will set us up for further customer engagement moving into 2019.
Stratis Full Node Production Release
The Stratis Full Node will be delivered as a production ready release. This will allow Stratis to embark on moving to a full C# Mainnet network.
Stratis Sidechains Production Release
Stratis Sidechains will be deployable on Stratis Mainnet allowing companies to create their own customized sidechains off the Stratis mainchain.
Smart Contracts in C# Production Release
The release of Stratis Smart Contracts in C# is scheduled for Q4 of this year. This will allow the development and deployment of Smart Contracts in C# onto Stratis sidechains.
Stratis ICO Platform V2
New features are being integrated into the Stratis ICO Platform. These features are based on feedback received from organisations utilising our ICO platform and also enhancements scheduled as part of our ongoing product development.
Stratis Cold Staking
The implementation of Stratis Cold Staking as part of the roadmap will enable Stratis holders to stake their balance in a cold-wallet. The activation of this technology is subject to the adoption of the Stratis Full Node.
Stratis DLT
Distributed Ledger Technology (DLT) is a requirement for the large majority of private institutions. Stratis has been diligently developing a C# DLT solution to fit the needs of organizations looking to utilize blockchain technology within a private environment.
Stratis Core
Stratis Core will be updated with the production ready instance of the Stratis Full Node. This will be our wallet to replace the existing StratisX (QT) staking wallet.
Breeze
The Breeze Wallet will be updated with additional features and will utilize the production ready instance of the Stratis Full Node.
Stratis Academy
There is a focus on creating even more content on the Stratis Academy allowing developers and organizations to gain a deeper understanding of how they can build on top of the Stratis Platform. In addition, the Stratis Academy user interface will have a new look and feel.
Breeze Privacy Protocol for STRAT
Following the successful release of the Breeze Privacy Protocol for Bitcoin we will also be delivering the same functionality for STRAT. This will enable users to increase their anonymity when interacting with the Stratis token.

Stratis Partners with UK Meds


Stratis is pleased to announce our latest partnership with the UK’s fastest growing online pharmacy, UK Meds.
UK Meds is the fastest growing online pharmacy in the UK, digitally handling between 3,000 and 4,000 patient prescriptions each day. The company will deploy Stratis’ blockchain technology to improve patient safety across the online pharmacy sector as a whole, reducing instances of patients ordering multiple prescriptions.
By ensuring each patient’s request for a prescription is logged on a shared and immutable distributed ledger across a group of UK online pharmacies, the programme ensures patients can only access prescribed quantities of medication. Doctors dealing with online consultations and pharmacies preparing medication will have the ability to cross reference patients using a unique identifier assigned to each individual. Any previous request for medication across all online pharmacies in the programme will be easily referenceable using Stratis’ technology, ensuring patients receive correct prescriptions.
Joe Soiza, CEO at UK Meds commented:

Despite screening our own customers by IP addresses, phone numbers, cookies and many other factors, there isn’t a cross-industry solution to identify patients attempting to obtain multiple orders of drugs, with opioids being a particular example. Clearly our entire industry needs to come together to ensure we do everything possible to protect the vulnerable and utilizing Stratis’ technology can help us achieve that.
The Stratis Platform provides a highly secure blockchain solution that can be shared across the industry to provide a trusted and verifiable record of patient requests for medicine. We are initiating this programme, and we have over 10 online pharmacies onboard already. It’s our ambition for this to become the de facto standard across the entire UK industry.

Stratis’ technology will also be used to improve UK Meds’ own supply-chain by deploying Stratis’ Smart Contracts in C#, this is essentially code running on top of a blockchain enabling them to undertake specific tasks, at critical stages. In combination with track and trace logistics solutions, each shipment of medication will be logged on the blockchain when originally produced by the manufacturer, during points of distribution and again on arrival at UK Meds to certify pharmaceutical shipments are correctly packed, arrive in fine condition and remain securely sealed in the correct quantity.
Chris Trew, CEO at Stratis added:

This is a great example of blockchain being deployed where its unique qualities will make a real difference. Using traditional IT solutions to solve this issue would require a significant expense and would undoubtedly be administered by a third-party organization. With blockchain, the industry can cooperate on the critical issue of patient safety using a shared version of the truth.

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