Solve Data Synchronization Challenges with Blockchain & Smart Contracts - David Richards

Solve Data Synchronization Challenges with Blockchain & Smart Contracts - David Richards, Digital Asset

Blockchains are typically well positioned to solve the issues of trust and data synchronization. In enterprise technology data synchronisation is often the main challenge to overcome - the technical difficulty of multiple parties, either within the same organisation or spanning multiple organisations sharing data to drive a competitive advantage. Better technology is needed to solve the problem and Daml has data synchronisation built into its core. We introduce a concept called a Virtual Shared System of Record (VSSoR) using Smart Contracts and Blockchain that goes beyond open data, incorporates shared processes, and provides for strict well-permissioned cooperation that ensures only necessary data is shared to cooperatively solve a problem..