The Chain Protocol is a design for a shared, multi-asset, cryptographic ledger. It supports the coexistence and interoperability of multiple independent networks, with different operators, sharing a common format and capabilities. Using the principle of least authority, control over assets is separated from control over ledger synchronization.
The Chain Protocol allows participants to issue and control assets programmatically using digital signatures and custom rules. Transactions issuing and controlling assets are collected into a cryptographic chain of blocks forming a shared ledger. Block signers follow a federated consensus protocol to replicate a single copy of the ledger across all nodes to prevent reversal of transactions and double-spending.
Chain Core is software that implements the Chain Protocol. Using Chain Core, organizations can launch a blockchain network in their market or connect to a growing list of networks that are enabling this new medium for assets – one that reduces the time, cost, and complexity of asset transfer and custody in the financial system and can give rise to new products and services that are difficult or impossible to realize on traditional infrastructure.
Here are some examples of why firms are launching blockchain networks using Chain’s technology:
To move money internationally more quickly
To transfer securities directly between asset managers
To serve as a secure ledger for tracking assets across divisions of a large organization
To enable a next-generation mobile banking solution
To create a loyalty points system for a consortium of brands
To issue digital gift cards onto a network that can support multiple wallet vendors
To create automated insurance contracts
To issue central bank currency digitally to improve the payments system in a country
Chain works with leading companies including Visa, Nasdaq, Fiserv, Citigroup, Capital One, Orange, State Street, MUFG, and many more.
Brian Wang is a Futurist Thought Leader and a popular Science blogger with 1 million readers per month. His blog Nextbigfuture.com is ranked #1 Science News Blog. It covers many disruptive technology and trends including Space, Robotics, Artificial Intelligence, Medicine, Anti-aging Biotechnology, and Nanotechnology.
Known for identifying cutting edge technologies, he is currently a Co-Founder of a startup and fundraiser for high potential early-stage companies. He is the Head of Research for Allocations for deep technology investments and an Angel Investor at Space Angels.
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