Hybrid Blockchain for Decentralized Workflows

in #lto2 years ago

Enabling B2B to collaborate on equal footing using trustless automated processes with GDPR and data privacy compliance: combining permissionless ad-hoc private chains with a permissionless public blockchain.

Multinationals and governments invest billions of dollars in automation solutions such as ERP, BPMN and CRM to run their day-to-day processes as efficient as possible.

However, the moment they need to collaborate with other organizations or even between departments, these efficiencies are gone. This so called ‘silo effect’ is the top barrier for organizations to reach a next level of efficiency of their business processes.

Then along came Decentralized Ledger Technology (DLT), which has the potential to solve this problem without compromising productivity and data security.

LTO Network enables collaboration between multiple organizations and departments via decentralized workflows, where parties can keep using their own (legacy) systems to participate in a process.

Private Data

Whether you want to protect company sensitive data, or have to comply with GDPR, data privacy is crucial when collaborating B2B.

LTO Network’s unique hybrid approach embraces privacy by design. The process is pseudonymised and private sensitive data is shared on a need-to-know basis.

Event Chain

Each process creates an ad-hoc miniature chain. This private chain is only shared between the participants.

Rules of the collaboration are not dictated by the network, but defined in a Live Contract on a case-by-case basis.

All events in a process are securely stored on the event chain.

Global Public Chain

All nodes are connected through the LTO public chain, which is used to timestamp and anchor data and events.

The public chain is optimized for anchoring, allowing an immediate response through using the NG-protocol.

The chain can be used for decentralized workflows, as well as notarizing every type of information.

Decentralized Workflow Automation

Using blockchain technology, LTO Network enables organizations to run B2B-workflows in a decentralized way, where parties participate via their own node.

Just as in the real world, when parties conclude an agreement, the execution of this agreement needs to be take place in the correct way. LTO Network uses decentralized workflows called Live Contracts to automate these procedures. Live Contracts contain instructions for both humans and systems on the actions that need to be executed. All parties involved in the Live Contract validate each others actions and secure data submissions.

LTO Network bursts the hype bubble and unlocks next level process efficiency.

Read More https://lto.network/

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