Blockchain Technology For All

As the Blockchain Ecosystem is growing fast, the most critical aspect emerging implementing a proper Blockchain Strategy. It is imperative that blockchain technology proactively provide digitally permanent, auditable records that show stakeholders the state of the product at each value-added step. TRST01 attempts and specializes in helping companies develop robust blockchain-enabled solutions best suited for organizations specific business needs. TRST01, acknowledge the philosophy of technology and innovation should reach the commoner, and technology should benefit ordinary people. Trust, Transparency and Traceability should not be exclusive and for a few.

When it comes to emerging technology such as Blockchain, many protocols exist and keep increasing as we excel in technological advancement. Some notable in the present-day protocols include Ethereum, BigChainDB, ChainCore, Corda, Credits, Hydra, Multichain, Openchain, Quorum and Stellar. Applications built on such protocols are called Decentralized Applications (DAPPs). dApps run on a blockchain network in public, Decentralized environment and are free from control and interference by any single authority.

Unlike a public blockchain, a Private Blockchain is a permissioned blockchain where networks place restrictions on who is allowed to engage in the network to perform activities and in what transactions. It enables only certain authorized entities to participate in a closed network and grants specific rights and restrictions to participants in the network.

When compared to the public Blockchain, a private blockchain is more centralized. Examples are Ripple(XRP) and Hyperledger. Both public and private networks have pros and cons in terms of usability and functionalities.

The selection of a Blockchain protocol depends on the intended end-use.

TRST01, a Blockchain service solution platform combined with other emerging technologies, provides flexible protocols based on business use cases and objectives.

TRST01 platform builds on the principle of Blockchain Agnostic, Interoperability and offers to choose use any blockchain protocol, not restraining a company’s right to choose and be flexible.

Businesses can quickly gather and present information and stories about products and their supply chains, including verified data to support them. By connecting this information to products and services, in-store packages, and online, a storyline is conveyed to users by connecting the dots of discovery/origin, journey, and impact.

The current challenge in Blockchain is Platform interoperability. It includes several functionalities and abilities such as Integration with existing systems, initiating transactions on other networks, conducting transactions with other chains, etc. This kind of additional values parameters is essential and needed in every other industry, be it in the supply chain, trade finance, healthcare, insurance, retail, etc. New technologies are beginning to offer farmers, manufacturers and brands innovative tools to verify materials efficiently and reliably through specific on-product markers. These technologies will improve how companies can map, audit, certify, and monitor their value chains, allowing them to tackle issues head-on and build transparent processes.