How we see it.

Today, fewer businesses really understand what is happening to the information they generate, what is being collected and where it goes. They are also not fully informed about the incentives and disincentives across their ecosystem system. They don't realize the profile and patterns they are creating about themselves.

Industry/ Trade data concerns are no different and actually may be as important as personal data. Until now, much of that data has been restricted to subscription-only containers (Bloomberg. D&B, etc) - the internet has changed that and it has changed that quickly.

Now, inaccurate and incomplete data may have more substantial implications, the need for businesses to be actively engaged in managing their own information cannot be more pressing.

Blockchain and its supporting technologies offer the promise of unique identification and the potential of reduced, if not elimination, of fraudulent use of business information. Blockchain technologies, through Distributed Ledger Technology (DLT) and the emergence of NFTs can verify, authenticate and streamlines these processes with the business retaining rights to their own data.

When you look at it from a systems level - form follows function. The islands of financial and activity we leave distributed across the internet - from input data, online forms, order-entry and financial data require development of clear governance and policies for the organization.

Block chain offers an opportunity to secure and effect data integration in a very profound way. Blockchain's core design principles include security and encryption of transactions and data. By controlling access and use of that data, trust and transparency become central to your engagement across your supply chain. By uniquely identifying you and your company’s information the risk of duplication and improper identification is dramatically reduced. This is because block chain, at its most fundamental level, is a high security data management solution that builds trust by enforced processes.

Implementation of a fully auditable identity layer across your company and your industry avoids the need for custom data manipulation when retrieving company data. The unique feature of block chain to hash # data with a time and date and the ability to make it immutable becomes critical for context sensitive decision-making.

The use of block chain for data integration and identity management is in its infancy. It holds promise for the unique identification of people, companies, products and locations. When implemented, it also reduces the risk of misidentification and fraud.

As more data is made electronic it creates new opportunities to innovate. By applying sophisticated pattern recognition algorithms to this data insight begin to emerge. Through artificial intelligence these patterns can be programmed to reduce routine and repetitive tasks. Humans are not always reliable and can fatigue easily with routine and receptive administrative tasks. This is when errors occur.

Digitizing financial and supply chain information now offers regulators the opportunity to look at entire ecosystems more efficiently.

Software applications are emerging that take advantage of this digital information and create new and innovative service offerings by combining the data through API gateways; these are standardized, much more secure and can be more easily monitored by your company. Activity reports can be generated for investigation.

Blockchain builds from fundamental design considerations of identity, trust, mutability and transparency. These are essential elements of any event-based system. Aggregation of event-based systems create patterns. These patterns emerge across companies and industries. Patterns across ecosystems provide the basis for automation and depending upon the actions taken based on those events inform artificial intelligence tools.

Artificial intelligence is the development of insight from patterns of behavior previously unavailable or not visible through other means. In artificial intelligence there is collective learning to improve customer service, reduce operating costs and reduce fraud.

This is critically important for the improvement of customer service, brand expansion, brand protection and operational improvements.