Where the Internet was a disruptive platform that allows data transfers, blockchain is a disruptive platform that allows value transfer. With Devvio’s scalability and cost effectiveness, for the first time, blockchain can be deployed at global scale to track and manage any type of asset ownership. Ownership can refer to any type of asset, whether it is digital or physical, and can take a variety of operational meanings such as legal ownership, logistical movements, or insurance liability.
Devvio Enables Blockchain Asset Management
Devvio enables a new paradigm for tracking and managing assets. For the first time, blockchain can be deployed at global scale at cost to track and manage asset ownership, providing secure ownership and transfers, immutability of records, automation, interoperability, privacy, and access control. Devvio Asset Management provides for easy onboarding and integration with existing systems through an easy to use RESTful API. By leveraging these capabilities, the Devvio blockchain can solve problems that no other current system can solve. Devvio can ensure all parties involved in an asset ownership or transaction on any key data or physical element will be able to avoid disputes, have access to the single truth of status in real-time, and mitigate, if not eliminate, compliance exposures and provide an immutable record for audits. Devvio enables the move away from reactive, mid-value service via administration and analytics to high- value, automated services. With Devvio smart contracts, business process workflows, workforce management, and scheduling for maintenance or other regular events can be easily automated ensuring operational efficiencies and significant cost savings. Devvio smart contracts can further automate complex business processes, react to important events in real time, integrate with automated payment solutions, and provide a basis for contingency planning and elastic resource management. Devvio can natively define, track, and update both tangible and intangible enterprise assets throughout their entire lifetime. Whether the assets consist of digital commodities, inside or outside plant infrastructure, products, components, or facilities, managing assets on a blockchain has a number of benefits compared to a traditional database management system including fault tolerance, inherent logging, data distribution for both performance gains and disaster recovery, and immutability of historic data. Asset types can be defined that track whatever properties are important to a business on chain, so that configuration information, maintenance details, cost data, or ownership information are associated with each asset. These associations and properties remain connected to an asset as it moves geographically, organizationally, and/or through business processes that might update the asset's properties or rely on asset properties as a basis for either automatic or human-managed business decisions. Devvio is able to compose assets such as components into a final assembly asset that can be mapped back to its origins as well as to decompose assets back into components during disassembly, repair, or refurbishment. In this way the entire history of an asset or component and its parts can be tracked throughout a complex lifecycle that includes replacements or upgrades. The blockchain provides an ongoing ledger, a permanent record of everything that happens to an asset. Unlike a database system, this record cannot be tampered with, though it can be easily amended to correct any state information.
Devvio’s security OS delivers best in class security benefits, solving the major problems facing cybersecurity professionals today. For over three decades, Byzantine fault tolerance (BFT) has become the gold standard for security in distributed systems. As the name suggest, Byzantine fault tolerance means that a system can tolerate (i.e. still achieve consensus in the presence of) Byzantine faults – the category
of faults where nodes may be malicious. In effect, this means that there is no central point of failure, and even if a number of servers in a network are compromised, the system as a whole maintains its integrity and security. Devvio enables the deployment of a Byzantine Fault Tolerant security backbone across the entire communications and IoT network providing security solutions that enable identity, authentication, resiliency, the reliability of information, and surety of access to communication networks and digitized assets. Devvio has built a large patent IP portfolio around the security capabilities and enabling technology in this space.
Devvio’s ability to create a blockchain ledger that will remain a permanent, indelible, and unalterable history of transactions is a definitive feature that is a key benefit for security systems. Additionally, Devvio’s immutable records are distributed and held across multiple computers. Devvio’s blockchain implementation brings an unprecedented level of trust and disaster recovery to the data enterprises use on a daily basis — immutability and decentralization provide full data integrity and disaster recovery. With blockchain, Communication and IoT networks can prove to their stakeholders that the information they present, and use has not been tampered with, while simultaneously transforming the audit process into an efficient, sensible, and cost- effective procedure.
Devvio Best-in-Class Scale
One of the top technical challenges facing Blockchain technology deployment is the ability to scale and do so at an effective price point while maintaining security. These requirements are foundational to running secured networks in mission-critical, high-risk and high data volume (sometimes low-bandwidth) environments. Devvio has solved the sharding problem, enabling horizontal scaling and therefore a solution for scaling challenges. This provides an operational platform to build a global scale end-to-end asset management network that can manage tens of millions of transactions per second.
The ability to securely and reliably interconnect multiple networks is a challenge in the Communications and IoT realm. Although blockchain is not innately a data integration tool, distributed ledgers are inherently designed to offer shared visibility of data. Thus, Devvio’s blockchain technology provides for new levels of interoperability. Devvio enables seamless interoperability solutions, easily integrating existing traditional databases with our blockchain platform. Devvio’s solution provides a backbone to support connection and cooperation across established technologies, with quick onboarding of traditional data and intuitive integration with existing processes using tools such as our RESTful API. All critical for global enterprise asset management.
Devvio has regulatory and compliance mechanisms that can be implemented and automated to ensure requirements are met and recorded on an immutable ledger both inside and across jurisdictional boundaries. A highly secure and immutable record of all transactions, where all participants’ interactions are cryptographically secured, provides an ideal system for auditing and compliance. Devvio also works within important regulatory contexts including the EU General Data Protection Regulation (EU GDPR), Payment Card
Industry Data Security Standard (PCI-DSS), and numerous breach notification laws. Various organizations such as the Center for Internet Security (CIS) and U.S. Department of Defense also have recommendations for security configuration best practices in which Devvio’s technology enables compliance. The importance of flexible security controls cannot be overstated as new regulations are being released and existing regulations are constantly evolving around the most valuable asset of many organizations – their data.
- Devvio insures secure ownership and transfers of physical assets, digital assets or digital representations of
- Immutability of transaction and asset ownership records.
- Devvio smart contracts enable automation of business process.
- Interoperability across systems.
- Cryptographic Proof of Ownership.
- The Devv Blockchain is Byzantine Fault Tolerant. It is distributed and all transactions are assured through a
- The Devv blockchain can support tens of millions of transactions per second.
- Devvio provides a backbone for designing and implementing shared operational and technical frameworks.
- Devvio implements shared frameworks that adhere to regulatory requirements.
- One of Devvio’s key enabling elements is the patented ability to implement, manage and scale independent shards horizontally without sacrificing global state management.
- Data can be encrypted on both public and private shards, and references to off-chain data can be maintained on-chain.
- Devvio can maintain both short-term and long-term storage for an immutable record of transactions. This provides full backups, disaster recovery, and prevention of ransom attacks.
- Devvio allows Integration with private and public blockchains and provides ease of on boarding and integration.
- Devvio provides for multiparty integration with incumbent systems, and management of security and granular permission settings across parties.
KEY BUSINESS BENEFITS
- Devvio can deliver best-in-class BFT solutions at a cost and scale that drives strong ROI for enterprise asset
management use cases.
- Devvio is able to support greater control, granularity and trust to data and asset sharing. This will represent a core catalyst for automated business models involving broader ecosystems and will solve some of the most pressing issues for the future of leveraging Communications and IoT networks.
- Devvio can extend a best-in-class Security overlay for all extended asset management solutions including IoT, Financial Services, Payments, Compliance, Identity, Mobility and Supply Chain.
- Devvio provides security solutions that enable identity, authentication, resiliency, information reliability, and assured access to communication networks and digitized assets.
- Data coming from devices can be verified as being authentic, and can be stored on an immutable ledger, providing valuable proof of provenance.
- Devvio’s solution allows privacy to protect an enterprise’s private data even while engaging in multiparty collaboration.
- Devvio solutions have EU GDPR compliant mechanisms.