4thTech Solutions

Multi-Chain Enterprise Wallet to Wallet Data Exchange

In 2017, 4thtech proposed and later developed a DLT solution, which leverages trust provided by the blockchain to provide secure, immutable, instant cross-border electronic data and document exchange and eDelivery (i.e. FOURdx). Digital identity mechanism (i.e. FOURid) later followed, which can with the help of X.509 EU certificate standard verify the connection between a blockchain wallet and a person.

Notarisation service (i.e. FOURns) is also an essential part of the 4thtech ecosystem and provides unique digital document timestamp and authenticity verification. 4thtech ecosystem enables enterprises to solve important blockchain challenges within a niche industry of electronic data exchange while providing scalable, interoperable, multi-blockchain solutions.

Toward Blockchain Enterprise Adoption

Blockchain Adria is a leading blockchain hub in South-Eastern Europe connecting private and public stakeholders active in blockchain technology education. On Thursday on the 25th of March 2021 4thtech initiative head, Dr. Rezun talked about Blockchain Enterprise Adoption using 4thTech as a use-case.

Adoption Modules

1. Enterprise Use Case

The first step towards enterprise blockchain adoption is the use-cases recognition accompanied by tailored blockchain design.

2. Ecosystem Participation

When choosing enterprise ecosystem participants, several options are available; (1) internal participants; (2) internal and external participants; (3) organisation and end customers.

3. Private & Public Chain Support

Specific to enterprise needs, 4thtech supports public permissionless and private permissioned blockchains; (1) Ethereum; (2) HashNet and; (3) Polkadot Edgeware.

4. SI-Chain Testing Network

Built on a HashNet technology, that employs DLT and consensus algorithm while increasing throughput to more than 50,000 transactions per second, SI-Chain enables enterprise testing infrastructure.

5. Blockchain Access

(1) the Access Point (i.e. AP) will serve as a connection point between existing enterprise IT infrastructure (i.e. ERP) and blockchain network.

(2) Google Chrome and Mozilla Firefox 4thTech wallet (i.e. FOURwaL)

Private permissioned chain

Adoption Example

Use Case Excample:

Blockchain digital data exchange and eDelivery (i.e. FOURdx) within the organisation.

Ecosystem Participation:

(1) internal participants ecosystem within the organisation.

Blockchain Network:

(2) HashNet permissioned blockchain, subscription-based with FIX_TX cost.

SI-Chain Testing Network:

Enterprise blockchain network application testing before production deployment.

Access & Connectivity:

Core services platform access with Google Chrome and Mozilla Firefox 4thtech wallet add-on (i.e. FOURwaL) available and open for all internal participants.

Why 4thTech Enterprise?

4thTech helps you to find a balance between existing systems and blockchain implementations
Use-cases recognition and tailored made blockchain design
Fast complete end-to-end implementation and deployment
Successful use-cases from real estate, manufacturing, public sector …

Roadmap to Adoption:

Project consultation
Use case recognition
Technical design and architecture
Blockchain implementation
Testing
Deployment

BLOCKCHAIN DATA EXCHANGE USE-CASE

Discover Blockchain Data Exchange

Blockchain electronic data exchange (i.e. FOURdx) accompanied by document notarisation (i.e. FOURns) enables users to send or receive and notarise any kind of personal, legal, financial or other kinds of documents.

Blockchain Digital Identity Revealed

Blockchain digital identity mechanism (i.e. FOURid) accompanied with X.509 digital certificate standard and document exchange protocol enable users to send, receive and authenticate any kind of PDF documents signed with their digital certificate.

BLOCKCHAIN DIGITAL IDENTITY USE-CASE

Adoption Models

Transaction-based:

Based on the network transactions (i.e. TX) on public permissionless blockchains, it is most suitable for users that have the necessity for traceability of executed transactions.

Subscription-based:

According to the chosen monthly subscription plan, the user will be charged a periodic FEE for electronic data and document exchange TX. Based on the private permissioned blockchains it is most suitable for regulated users from the private and public sector and civil society.

Both models are viable, as users are coming from two completely different groups. The trade-off is between low-cost private-chains with no open TX traceability and public-chains with volatile and in most cases higher prices but publicly traceable TX

Benefits:

Fixed price, no volatility (i.e. subscription model)
Low cost of ownership
Fixed speed and performance up to 50.000 TPS (i.e. subscription model using HashNet)
Immutable
Decentralized and Scalable
GDPR compliant application
X.509 digital certificate compatible
Local or cloud data storage

Access Point, the connection between both worlds

To connect to existing enterprise server backend systems, a high-end blockchain-enabled Access Point (i.e. AP) is needed. Govern by an Application Program Interface (i.e. API), the Access Point serves as a connection point between existing enterprise IT infrastructure (e.g. ERP) and blockchain network.

The Access Point is installed on the prospects enterprise servers and designed according to enterprise needs. In the same role, it will act as an enterprise blockchain gateway and wallet, a connecting point and a bridge between both worlds.

4thtech leverages trust provided by the blockchain to provide secure, immutable, instant cross-border electronic data and document exchange and eDelivery. Additional Notarisation features enable users to access the document time-stamp and verify its authenticity via file checksum. 4thtech identification mechanism verifies and maps the connection between a blockchain wallet and a person, utilising the X.509 digital certificate standard.

According to PwC Time to trust Report 2020, blockchain has the potential to boost global domestic product (i.e. GDP) by 1.76 trillion dollars over the next decade and hit the mainstream by 2030. PwC report also points out that some 60% of CEOs are placing digital transformations among their top three priorities and that organisations have recognised the value of online trust and cybersecurity between their business partners and customers.

"Blockchain network is a hardware and software infrastructure that enables decentralised transaction ledger and smart contracts to power the blockchain applications"

4thtech solutions are multi-blockchain interoperable and enable various blockchain network support, therefore offer multi transaction cost and speed choices.

The 4thtech protocol does not store the transmitted electronic data and documents on the blockchain. The electronic data and documents are stored off-chain. The protocol records links to encrypted files and hashes of the encrypted content on the blockchain. This safeguards the rights of individuals to confidentiality and privacy.

HashNet technology employs DLT and consensus algorithm that keeps all positive characteristics of blockchain technology while increasing throughput to more than 50,000 transactions per second, which gives us a significant advantage.

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