Stripped to its base essence, a blockchain is a ledger that records events in a manner so secure that it is functionally immutable. By chaining the cryptographically secure ‘blocks’ of data together, no part of the chain can be changed without changing all the other blocks, which is functionally impossible. When this technology is tied to the needs of large enterprise level companies and interests that have complex contractual obligations, the power of an industrial grade blockchain to keep complex joint interest projects in lock step becomes apparent.
Data Gumbo is the leading provider of such blocks.
Blockchains were first proposed by Satoshi Nakamoto back in 2009 and were, by design, meant to facilitate the transfer of value from one party to another which is how the ledgering nomenclature was adapted. The technology addressed the principal problem in the digitalizing of value transfer; if I move an asset to you, it’s important that you have it and I do not, and further, that everyone knows and acknowledges it.
Value transfer has traditionally been made possible using fiat currency and so it was natural that alternative currencies would be a first use case to be layered on to blockchains. The secure ledger that blockchains represent quickly allowed for Bitcoin and later, tokens secured by blockchains to facilitate the transfer of value of particular class of asset.
But the underlying process that creates a blockchain never required a currency overlay, and the technology can be used to transfer an asset, from dollars to donuts, from one party to another, without being public, without having a dedicated currency, and without requiring a public fee-based and energy intensive consensus mechanism. Blockchains can be standalonecreations and provide a neutral ground that adjudicates between business entities for specific purposes.
The class of blockchain that Data Gumbo creates is not associated with currunes, crypto or otherwise, and is custom made to facilitate interactions between enterprises. This is the heart of an industrial blockchain; it’s the securing technology separated from any other value transaction. The value that is transferred is defined strictly by the participants and is guided by and automated smart contract which uses data to execute terms. It is a blockchain stripped of anything other than its core function of documenting a value transfer and then built back up to be custom to the enterprises that wishes to transact.
Data Gumbo is a leader in industrial blockchains and smart contracting and can address the specific business needs of any enterprise that wishes to speed up and automate its value transferring functions.