Swiss Firm Decentriq to Update GSBN’s Blockchain Platform to Handle Complex Data Sharing Process December 1, 2022 December 1, 2022 Kelly Cromley http://1AZFjzw2#Nwf63pYaMWq#xIY
Market NewsDecember 1, 2022 by Kelly Cromley

Swiss Firm Decentriq to Update GSBN’s Blockchain Platform to Handle Complex Data Sharing Process

Global Shipping Business Network (GSBN) has selected Swiss software startup Decentriq to aid in the development of its blockchain platform. The GSBN platform is based on blockchain technology, with a stringent access control mechanism governing the role-based visibility of data.

The organization said that it has teamed with Decentriq to handle situations requiring more sophisticated information-sharing procedures than from a solo data provider — for example, the present framework does not permit the aggregation of information across several carriers or endpoints.

Data filter rooms from Decentriq were meant to overcome this problem and support blockchain. Data filter room utilizes Confidential Computing (CC) technology, which provides a hardware-level runtime environment with restricted access.

“Partnership with Decentriq enables us to broaden usage scenarios for our networks beyond blockchain,” GSBN CTO Edmund To said.

“We anticipate that the forthcoming generation of blockchain partnerships will integrate blockchain technology with other new technologies, like as CC, to enable the gathering of data from many sources and the conversion of that information into useful insights, all while maintaining safety and security.”

Decentriq ensures the safe and anonymous handling of sensitive information, whilst the GSBN Blockchain network offers a secure log of the encrypted information supplied in the clean area. The Decentriq platform has precise input, output, and authorization controls. This, as per the business, offers an additional layer of access management policies that can be adjusted based on both positions and situations.

All data providers may read the settings before sending information to the clean area, and all players must agree to them before the clean facility is made public. Once the parameters have been published, they cannot be altered without the consent of the data providers, and all changes are documented in order to limit and track use.

GSBN is collaborating with Decentriq to explore use scenarios, such as the exchange of shipping activity details from numerous shipping companies with financial firms.

GSBN and Decentriq hope that by integrating their systems, they would be able to deliver new perspectives without adding work or effort to both sides of the exchange while maintaining the highest level of secrecy.

“While CC addresses several challenges relating to data quality and data privacy in a very simple and scalable manner, it lacks certain robust cybersecurity assurances on data unalterability and ordering,” said Decentriq CTO Stefan Deml.

“Blockchain is well suited to address these deficiencies. “It’s fantastic to see these technologies completely integrated into a holistic system that will revolutionize the global commerce business.”

The GSBN has finally revealed that a huge number of industry titans have joined or will soon join the coalition. Maersk and IBM recently revealed the withdrawal of TradeLens solutions and the discontinuation of the blockchain network. TradeLens “has not achieved the level of economic viability” to continue development of the platform, as the reason for this decision.

AuthorKelly Cromley

Kelly is our in house crytpto researcher, delving into the stories which matter from blockchains being used in the real world to new ico coming out.