Blockchain or Distributed Ledger Technology (DLT) offers a radically different paradigm
of storing and managing information online. Decentralised ledgers lack the points of
failure and associated security issues of traditional databases and top-down protocols,
whilst at the same time posing their own unique challenges for effective deployment and
The advantages in terms of costs, transparency, immutability, security and confidence
that are characteristic of blockchain solutions mean that financial businesses,
government departments and other organisations are exploring applications of all kinds
with a view to delivering services more profitably and efficiently. However, reliable
deployment of a new blockchain fit for purpose entails extensive overheads in terms of
network infrastructure, development, security and ongoing maintenance. Moreover, use
of an existing blockchain (such as Bitcoin) comes with numerous problems for a
mainstream business, not least because users have no control over blockchain features
or future development.
An attractive model for blockchain service provision exists in cloud computing. Cloud
services may be tailored according to the needs of the organisation and infrastructure,
platforms and software provided as services via web interfaces – without businesses
having to take on the maintenance of these themselves.
Stratis will take a similar approach to blockchain deployment, enabling organisations to
provision their own private blockchains, tailored to their precise needs but secured on
the parent Stratis chain. This approach means there are few unnecessary overheads
whilst allowing businesses to secure the benefits of a blockchain-based solution,
developing services via powerful APIs and lite web-based clients.