Blockchain, best known as the underlying technology for Bitcoin, provides a Distributed Ledger mechanism to lock in information and making it independently verifiable and audit-able.
Currently each participant in a transaction has his own separate, individual ledger and therefore his own version of the truth.
Which is why we need to rely on intermediaries to provide trust and consolidation, which is inefficient, error prone and fraud sensitive, and leads to disputes.
With Blockchain for the first time there is a technology that can add indisputable Proof of Authenticity to all the content we create, store, process, share and distribute. One single version of the truth.
So, we now no longer need to rely on intermediaries, which is much more efficient, safer and cheaper.
Sphereon provides easy-to-use solutions and Plug-ins to bridge the gap between today’s Business Applications and the Blockchain-powered world of tomorrow.
Blockchain enables you to create and provide a single, verifiable version of the truth to all stakeholders. A witness, a notary, for all your digital data.
For the first time there is a technology that can add indisputable Proof of Authenticity to all the content we create, store, process, share and distribute.
Sphereon is the first company that provides easy-to-use solutions for Blockchain to bridge the gap between today’s Business Applications and Blockchain. Connect your ERP, Financial or Sales Management to work with Blockchain. Your Document, Content or Case Management systems. Your Customer Communications.
Create immutable and independent verifiable Proof of Authenticity of documents, emails and any other digital information object.
Create data structures across Blockchains to store information — about objects, assets, people — that cannot be changed and are independently verifiable.
Build Governance and Risk solutions, such as Trusted Records Management, by creating transparent, independently verifiable audit trails for your processes.
Create autonomous processing solutions, using Smart Contract, that will execute certain tasks without the need of middlemen.
Use an Blockchain-powered Digital Signature to sign all types of digital objects, not just PDFs, to authenticate business transactions or exchange of information.
To proof that digital content (a document or any object) existed at certain point in time, you need to be able to show absolute proof that it was time-stamped by an independent system and has not been changed or tampered with in any way.
Our Blockchain API first creates a unique identifier for your object, a hash, a kind of unique electronic fingerprint. For this we use an open, public algorithm (SHA-256).
This hash gets then committed into the Blockchain. This transaction gets time-stamped on the Blockchain as well.
Anyone that has access to this object, now or in the future, can verify the authenticity by simply recreating the hash and verify it on the Blockchain.
This can be done with the same Sphereon API. But since we are using open, public APIs, the user can also use third-party software or services to verify and validate the object.
The API basically again creates this unique identifier using the same hashing algorithm. If just one single bit of the content has changed, the resulting electronic fingerprint, the hash, will be different.
This hash gets then verified on the Blockchain. If there is a match (there should be a match), the software retuns a valid match, as well as the original time-stamp.
If not, it returns an error message that the document is not identical (it has been changed) and should not be trusted implicitly.
Through this mechanism we are able to proof (or disprove), beyond any doubt, that the object is Authentic and existed at a certain moment in time.
In many businesses there are specific rules and regulation that must be followed. Internal rules and external rules dictated by governments and regulatory bodies.
Blockchain allows more than just documents or other objects to be registered. Transactions, including specific information about the transaction, can be stored as well.
Using our Blockchain API you can register every transaction in any Application, BPM- or ECM system on a Blockchain. Each registration is linked to a specific case, object and action, creating a chain of transactions: an audit-able trail.
The audit trails can be kept internal, but can also be shared among stakeholders or the public. It can be verified by those third parties, providing Transparency, Compliance and — most importantly — Trust.
First of all, our Blockchain-powered Digital Signature API offers the same functionality and the same legal basis as traditional Digital Signature solutions.
Plus, we add important functionality to create much better solutions.
Traditional solutions have the limitation that they only work on PDF’s and some Office files.We support Digital Signatures for any type of digital object, not just PDFs. With our Blockchain-powered solution we support all office documents, as well as AutoCAD drawings, pictures, videos, audio, or just any digital data object.
Think about exchanging XML messages, log-files, designs, emails themselves, sending a ZIP or hand-over of files to another organization.
We also enable you to add additional information to the transaction on Blockchain, for example the party that signed, the status, or any other value. This creates a secure, external and independently verifiable audit log of the whole signing history.
With the registration on a Blockchain, the Digital Signature also lives independently of the object, which enables independent verification, with or without the necessity of having access to the object itself.
So, you can prove – beyond doubt – that a contract was signed, without the need to reveal the document itself to third parties or non-authorized users.
We are also no longer depend on a limited group of Adobe-approved certificate vendors (the so-called AATL list). You can get a certificate from any Trust Service Provider (TSP). In fact, you could event create your Public/Private Keys or use other Digital Identity systems.
For instance, we use Microsoft Azure KeyVault, a very, very secure (FIPS 140-2 Level 2 certified) Hardware Security Module (HSM).
Since the object is not changed by the signature, it also enables you to sign documents in parallel. This will greatly speed up the process in cases where multiple parties need to check and sign documents. It also enables you to implement business rules based on mandates, 4-eyes, majority vote, seniority, etc.
This is yet another use case that proves that Blockchain can be used to create better solutions that will change the way we work and do things.
The Easy Blockchain API provides a blockchain agnostic solution to create and manage interlinking Blockchain data structures.
This concept of chains to store related data enables you to build a kind of virtual Blockchain by enabling you to interlink different Blockchains into a data structure. This data structure can then be used to register content and meta-data.
Our Easy Blockchain API enables you to programmatically determine the Chain ID of the Chain you want to link to.
The same goes for the Entry ID.
These IDs are used to deterministically create or lookup chains and entries. This allows you to determine whether certain information already exists, or to store information in a particular chain you calculated.
What’s more, these Chains or Entries can exist in a different Blockchain or even a different Blockchain infrastructure. This enables you to link between different Public, Private or Permissioned Blockchains and build data structures across multiple Blockchains.
Smart Contracts are, basically, programs on a Blockchain. They are self-verifying and self- executing, computerized transaction protocols, stored on a Blockchain, that perform the terms of a contract.
Self-verifying means that a smart contract performs its own evaluation and provable recording that a contractual performance has occurred. It records performance of predefined data feeds as are defined in the smart contract.
Self-executing means that the smart contract is automatically executed once the preset conditions have been met.
Smart contracts are uniquely tamper proof. These smart contract programs run on node networks – which nobody can control and therefore everyone can trust – assuring that the contract will be executed as it was written.
An example could be: software use-licenses typically require periodic payments. If a user fails to make the license payments on time and a payment is not received on a predefined bank account before a predefined date, the smart contract simply prevents access to the software.
You can create Smart Contract applications yourself and activate them by using our Blockchain APIs through our API Store.