DLT-ENABLED, MILITARY-GRADE SECURE DIGITAL ESCROW
You get access to our military-garde encrypted client portal to upload, verify and store your code on our secure sites – hashs of every transaction and its data are written on a blockchain that guarantees data integrity and full accountability.
A Blockchain-based Escrow Solution to guarantee a release upon verified events.
The code of law differs in every jurisdiction and with critical business applications, specifically in the public sector or in large cap private sector engagement, it is the primary concern to be fully operational regardless of changes in regulation.
Introduction to smart contracts in escrow
Both the secure setup and execution of a release are the most essential and critical parts of an escrow agreement – regardless the nature of the deposit.
1. Why it makes sense to use a blockchain-based solution
DLT (distributed ledger technology aka blockchains) ensure that all transactions, such as the terms of an agreement are recorded accurately and transparently.
It allows for release events with guaranteed terms that cannot be superseded by any regulatory interference.
This becomes possible, since once a transaction is recorded on the blockchain it cannot be deleted, modified or altered and thus gives you absolute certainty that all parts of the agreement stay intact throughout the lifetime of the agreement.
Once a release event takes place the smart contract code automatically executes the release.
2. Client acceptance process
In an initial discovery, we take stock of the requirement and requisition, we structure all relevant information and sign any required agreements and documentation to check for conflicts-of-interest, KYC & other applicable regulatory concerns.
Upon acceptance of the client, only a key is required for access to our portal-solution. It enables our clients to securely upload any kind of data & information and define the terms applicable to the transactions defined herein, such as e.g. a data release event.
3. Get Started
All relevant company information, users, user roles, upload criteria, acceptance criteria and other escrow-relevant aspects are selected in the backend and checked by our quality management prior to activation.
4. Military-grade security
With GE smart contract escrow we encrypt four components:
- File encryption
- Database
- Data storage, and
- Data transmission
File encryption:
In case of an application, the application source code is compiled into bytecode prior to deployment. Private keys that are automatically changed in pre-defined intervals are used for compilation.
All data is compiled using these keys and changing one file renders the entire application non-functional, which makes source code manipulation impossible.
Database Encryption:
All relevant database tables are encrypted. The file is encrypted the entire time and cannot be copied to a different location – the files can only be read, when the user is logged in as a authenticated user.
The database key-files are automatically changed in pre-defined intervals as well. The same applies to the MariaDB 10.2-key-change.
Storage Encryption:
Storage is encrypted with HP 3PAR. No keys are exchanged. The drives cannot be built into different systems.
Clients hold their own proprietary blockstorage in a shared storage environment.
Transmission:
All certificates are swiss since no secondary keys have to be produced by law, contrary to several jurisdictions.
To guarantee the highest security standards TLS >= Version 1.2 is used. Earlier versions are not accepted.
Mount Local Drive & Upload Deposits with 1-Click
Our military-grade secure client portal allows you to instantly upload, deposit and update material on our storage solution.
