By
Temitope Olatunji
April 16th, 2024
Chronicled demonstrated a solution that creates a secure link between any physical asset and the blockchain.
Chronicled, Inc., a San Francisco-based technology company, announced the integration with Quorum at Enterprise Ethereum Alliance launch event held at J.P. Morgan’s Brooklyn Offices on February 28, 2017. Enterprise Ethereum Alliance was formed by the world’s most advanced enterprise and startup blockchain innovators with Banco Santander, Intel, J.P. Morgan, and Microsoft among other founding members. The alliance aims to build, promote, and broadly support Ethereum-based technology best practices and standards.
Quorum is an enterprise-focused version of Ethereum. It focuses on challenges of blockchain adoption both within the financial industry and beyond. It will be an excellent solution for any application requiring high speed and high throughput processing of private transactions within a permissioned group of known participants.
Chronicled is a developer of blockchain-based open protocols, hardware and software solutions. Its platform allows industries to employ interoperable IoT solutions that deliver trust between partners, brand experiences for consumers, and compliance for regulators.
Chronicled demonstrated its blockchain-secured IoT solutions that combine secure hardware, tamperproof form factors developed in partnership with Cellotape Smart Products, and the Chronicled blockchain synchronization engine to create a secure link between any physical asset and the blockchain. Chronicled showcased the registration of a deed of title and a bar of gold, secured with tamperproof form factors protecting NFC PKI identity chips, to a Quorum blockchain.
According to Chronicled, related events occurring through smart contracts can also be enacted via any smartphone that is in proximity to the physical object once the physical and digital identities of the title deed are connected. This concerns actions from the transfer of the deed to creating a pledge as collateral
“In the not too distant future, assets such as title deeds, luxury goods, livestock, and more, will be registered to a blockchain back-end. Reflected in smart contracts, which would allow everything from instant payment and asset transfer to insurance, Things will be ‘clickable’ with full provenance details accessible via a blockchain explorer or through a user interface”, said Dan Morehead, Chronicled investor and long-time trader.
Chronicled also mentioned at Enterprise Ethereum Alliance launch event that it has partnered with a group of leading Fortune 500 enterprises and blockchain and Internet of Things technology start-ups. The cooperation aims at the development of an open source blockchain and IoT protocol that will be blockchain-agnostic and will serve as a shared resource.
Microsoft has also made an announcement at the event – the company added JPMorgan’s Quorum project to its blockchain tool box. Marley Gray, principle architect in charge of blockchain services at Microsoft, said: “We are proud to announce that Quorum is now available on Azure.”