The Dutch blockchain companies LTO Network and V-ID entered into a partnership by rolling out an immediately applicable, GDPR-compliant blockchain solution for companies and governments. Whereas V-ID are providing smooth interface for users to interact with, LTO Network is the backend of the solution securing the integrity of digital data on its blockchain. LTO Network distinguishes itself through speed and potential, in addition to vision and leadership. — Marnix van den Berg, Founder V-ID. Click for more info.
CertiK will be using the LTO Network global public blockchain to anchor the Proof-of-Existence on their smart contract audit reports. Further, CertiK will be auditing plug-and-play and custom Live Contract templates for organizations to easily integrate into their existing systems, unlocking unprecedented standardization of secured collaboration between organizations. The origin of the partnership lays in having combined forces at the Global Legal Hackathon (New York area) in February this year, and end up winning a prize in the competition. Click for more info.
With current technology you cannot ensure the safety of that data, so what recourse do we have? This is where NuCypher’s proxy re-encryption and LTO Network’s Live Contracts come into play. Consider the hospital encrypting the data before it was stored, where you as patient would have the only key to decrypt it. NuCypher can re-encrypt your information, so the doctor can decrypt it. This requires the collaboration of many nodes in such a way that the key or information is never exposed. In order to do this re-encryption, there must be consensus on whether or not this action is allowed. The LTO platform allows you to define it as a Live Contract; an auditable procedure and ruleset functioning as agreement, secured in the blockchain. By using ad-hoc private chains, details of a certain procedure are never exposed. These procedures help NuCypher nodes to reach consensus about a re-encryption task. Click for more info.
As a Dutch-based company that’s been operating for 4 years by delivering technology solutions catering within the legal and regulation realm, Dutch blockchain LTO Network is one of the few parties that could combine blockchain and GDPR. You can read about GDPR and its implications on blockchain from a LTO Network point of view in this article. Click here for more info.
Live Contracts, developed by LTO Network, can essentially facilitate any process or workflow on the blockchain. Instead of just visualizing the workflow as a BPM and interacting with it using a UI layer, LTO infrastructure makes it possible to verify actions of participants, as well as for participants (and the system) to receive elaborate instruction sets. With the supply chain industry developing rapidly, Internet of Things technology will be integrated more deeply into business processes. With CPChain facilitating IoT data and LTO facilitating business processes, a partnership is only logical. Live Contracts will be able to communicate cross-chain, reading data from the CPChain blockchain. Click for more info.