BlockApps Releases Enterprise Consortium Governance
BlockApps recently announced the release of a smart contract-based permission standard for private enterprise Ethereum blockchain customers. The biggest challenges for consortiums adopting blockchain is the ability to add and manage new members in a decentralized manner. The new update easily allows members of a private blockchain network to add and remove participants from their consortium networks.
BlockApps attempts to encourage developers to make blockchain-based apps for business use. It aims to address issues in the use of smart contracts for business supply chains, as well as looking at privacy and safety for companies using the blockchain to make business records uneditable and to move processes online. Customers have used BlockApps STRATO to build solutions for finance, insurance, supply chain, energy, healthcare, and many more.
BlockApps is also a founding board member of the Enterprise Ethereum Alliance, which is the world’s largest open source enterprise blockchain project with over 500 members including Microsoft, Intel, BNY Mellon, JP Morgan, CME Group, and Santander.
The design of this mechanism was informed by BlockApps’ two-hundred plus enterprise engagements with companies ranging from small startups to Fortune 500 companies, including Minsheng Insurance, and BHP Billiton.
Their CEO Kieren James-Lubin said,
“We’re introducing a scalable network governance standard to the enterprise Ethereum ecosystem, as well as the open-source community at large.”
BlockApps provides a robust standard for managing user permissions in enterprise consortium networks by using smart contracts as access control lists. The standard provides configurable governance models to allow whitelist and blacklist of users and nodes. This new functionality was designed in close collaboration with EEA members.
While blockchains offer significant business benefits such as traceability, data integrity, and cryptographically secured governance, meaningful blockchain implementations require sufficient tooling layers in order to scale. To this end, BlockApps continues to support the Enterprise Ethereum Alliance in its efforts to strengthen enterprise-grade extensions of Ethereum-based blockchain networks, which include modifications for scalability, security, and privacy.