A group of London-based developers is creating a platform that facilitates inter data communications between businesses of diverse portfolios.
Blockpool, as the platform is titled, leverages the best part of the blockchain technology to simplify data communication between closed-source organisations. The evolving B2B project proposes to utilise plugins to perform heavy-lifting functionalities between different legacy systems, while maintaining the stability and security of the overall data exchange.
Integrating blockchain technology into existing corporate systems is not a new thing. Many companies in the past have announced to work on their own private ledgers. But even then, a little has been done in the field of “masterchains”, a pseudo-private chain that enables all participating organisations to create an inter-organisational trust without needing to lose control of the privacy of their own, respective blockchains.
“This methodology is perfect for industries where cross organisation communication is essential while private organisations retain complete control over their own private information,” writes Blockpool.
Their business model is aptly explained through a case study available here.
Delegated Proof of Stake Mechanism over SQL
Structured Query Language (or SQL) has been the corporates’ prime go-to tool for their customer data retention. Despite being in great demand, this solution more has to do with the availability than quality. Customer retention hacking is a well-known thing among corporates, proving that SQL systems are not entirely stable and secure than they are portrayed as. Data breaches are a real thing!
Blockpool believes that the use of blockchain technology can practically protect corporates’ databases from unannounced security issues. But it also raises the prevalent scalability issues in the community, that could make a consensus-based blockchain into a political dais for developers, miners and investors. The result of this would be inner-community fights, and blockchain forks. This could be a poor situation for legacy systems.
Blockpool has therefore studied these limitations before coming up with their own version of blockchain, called the Blockpool Blockchain. It allows the project to deliver different blockchains to different clients for the only reason mentioned above: to allow an organisation or corporation to maintain their own private sidechain, all while maintaining a certain control over the pseudo-private masterchain.
The official token of the Blockpool Blockchain is, in true manner, fiat-pegged. It means that any organisation or corporation associated with Blockpool can have their token reserves retained in line of their bank account balances. It is a kind of financial peace in an otherwise volatile cryptocurrency market. Blockpool reads:
“By utilising the BLOCKPOOL Platform and plugins, we are able to develop a connection between existing financial payment systems and bank accounts. Utilising the burn/stake method we are able to retain an exact one to one peg on all private chain tokens.”
Token Exchange Campaign Announced
Blockpool has announced the crowdsale of its 25 million in-house tokens, called BPL, starting May 1st until June 30th. More information on the campaign can be obtained here.