BlockApps, the world’s first Blockchain-as-a-Service (BaaS) provider, today announced its Virtual Private Blockchains (VPB) solution on the BlockApps STRATO platform, which enables data and transaction privacy for enterprises and consortia.
Enterprise business workflows often involve privacy and specific permissioned-based access to sensitive data. Adopters of enterprise blockchain face the challenge of leveraging blockchain’s immutable data transparency with a business model dependent on data privacy.
[perfectpullquote align=”right” bordertop=”false” cite=”Kieren James-Lubin, Founder & CEO of BlockApps” link=”” color=”” class=”” size=””]“By introducing the concept of consortium and virtual private blockchain, we are able to solve this problem in a decentralized manner without introducing overhead.”[/perfectpullquote]
BlockApps STRATO offers Scope Separated Privacy, Access Governed Privacy, and Compliance Enforced Privacy
By orchestrating both a main blockchain and VPBs, BlockApps STRATO enforces privacy regulation with commercial enterprise privacy management systems, while still maintaining blockchain’s immutability and auditability.
Enterprises can create scoped, permissioned VPBs on their network for private transactions while participating on consortium-facing main blockchains. Participants on the main blockchain can form VPBs with one another for transaction privacy, and the logical separation is done via smart contract design. Additionally, participants can vote others in and out throughout the lifecycle of a virtual blockchain.
BlockApps STRATO enables provision access to transaction data with multiple VPBs. This feature enables enterprise clients to rapidly deploy onto blockchain-based solutions, whose business model or competitive advantage involves privacy protection regarding user privileges, data access, and Personal Identifiable Information (PII).
[perfectpullquote align=”full” bordertop=”false” cite=” BlockApps Chairman and Founder, Victor Wong.” link=”” color=”” class=”” size=””]“Virtual Private Blockchains combine the best elements of shared consortium networks and privacy while simplifying management under one seamless interface.”[/perfectpullquote]