Stratis, Triad Partner to Develop Blockchain for Businesses

Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned). In this sense, blockchain is immune to the manipulation of data, making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamp Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned). In this sense, blockchain is immune to the manipulation of data, making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamp Read this Term company Stratis has partnered with Triad Group, an IT consultancy services and technology solutions provider, to jointly work on decentralized enterprise-focused solutions.

Announced on Thursday, the blockchain firm will first identify entry points of the decade-old technology for Triad’s clients, and afterward, the two companies will “develop, deploy and market” their decentralized products, helping businesses to improve operational processes, enhance security and reduce costs.

The deal was inked as Stratis runs smart contracts written in the widely used C# programming language on Microsoft’s .NET core framework, which is the primary technology used by the UK-based consultancy.

Commenting on the partnership, Chris Trew, chief executive of Stratis, said: “Our partnership with Triad is a game-changer when it comes to opening up Microsoft-based blockchain applications to businesses. By working together, we will make it easier than ever for companies to access the benefits of blockchain and build business-specific applications on a flexible, easy-to-use platform.”

Integrating decentralized features into existing platforms

The announcement also detailed that the two companies will first collaborate to build a blockchain-based parcel tracking application. Rather than building one from scratch, they will implement Smart Contract Smart Contract A smart contract is a piece of software that automatically executes a pre-determined set of actions when a certain set of criteria or met. One of the key tenets of smart contracts is their ability to perform credible transactions without third parties and are self-executing, with their conditions written into the lines of code that form themAdditionally, these transactions are both trackable and irreversible. For example, a smart contract could be used to give royalty payouts to a musical artist A smart contract is a piece of software that automatically executes a pre-determined set of actions when a certain set of criteria or met. One of the key tenets of smart contracts is their ability to perform credible transactions without third parties and are self-executing, with their conditions written into the lines of code that form themAdditionally, these transactions are both trackable and irreversible. For example, a smart contract could be used to give royalty payouts to a musical artist Read this Term running features on an existing platform developed by Triad.

“...this will mean porting an existing parcel tracking application designed by Triad to the Stratis Platform so that it can run our recently launched Stratis Smart Contracts,” Trew explained. “Beyond this, we look forward to a deep and fruitful relationship with Triad by collaborating whenever we see an opportunity for blockchain to add value to their clients.”

As an enterprise-focused company, Stratis aims to integrate decentralized technology into the existing ecosystems. The company launched a security token offering (STO) platform last month, targeting US-based firms.

“The partnership with Stratis gives us access to a highly respected and trusted partner to help formalize our blockchain offering. Where appropriate, we will now offer our clients bespoke blockchain-based solutions and work with Stratis to build these on the .NET-based Stratis Platform,” Adrian Leer, managing director of Triad Group, added.