New business-based blockchain platform PLUG, has enabled a new chain of custody service for enterprise and government clients which was launched in London today. DocuChain’s 4Trust Chain of Custody platform will be introduced with the TALL Group of Companies, its UK and Eire licensee. 4Trust’s Chain of Custody service represents the first blockchain solution launched on PLUG in the UK.
The 4Trust service, which utilises PLUG to authenticate the provenance of transactional and custodial elements, will provide TALL’s clients with a comprehensive suite of solutions to the high costs, performance failures, unacceptable regulatory liabilities and missed opportunities in legacy trust architectures used by both government and enterprises.
TALL will provide its clients with real time and immutable authentication using 4Trust’s Android, IOS and Windows applications for end users and DocuChain’s secure authentication portals. This will improve visibility and performance across the full gamut of business processes such as process certification, supply chain visibility, regulatory compliance, customer relationship management and a range of secure transaction and custodial services.
Founder and CEO of DocuChain, Philip Leone, says, “legacy chains of custody are flawed and certainly not trustworthy. The costs to both enterprises and governments are unacceptable. Our architecture provides physical and logical elements which build upon existing document and trust systems, with authentications being conducted in real-time.
“The ability to integrate PLUG with our customers’ current business practices and legacy data systems means that their existing investments in infrastructure and business processes can be utilised.”
“Working with the Qadre and TALL teams has been very gratifying – they understand the dynamics and value of custody and how real time authentications engender trust, protect and value Identity, and restore sorely needed equities to custodial domains,” he says.
PLUG Director Product Delivery, Bradley Raby says PLUG offers 4Trust a practical blockchain solution and PLUG’s world-first modular design offers DocuChain’s 4Trust licensees the ability to modify their platform to meet the needs of many verticals including financial and legal services, industrial and process-based businesses, healthcare providers and pharmaceutical manufacturers, aviation and energy service providers, and many government agencies in the delivery of entitlements and other privileges.
Martin Ruda, Group Managing Director, says: “4Trust with its PLUG infrastructure once again demonstrates that TALL is the UK leader in the provision of secure document and electronic payment solutions to financial institutions and a wide spectrum of commercial enterprises and government agencies through its secure production facilities and service centres in Hinckley, Runcorn and Belfast”.