Recently, Bluenumber, a data analytics firm, announced that it is planning to establish a GDPR-compliant and decentralized blockchain known as B#Chain.
B#Chain will be built on the ProximaX, which is an advanced version of the NEM blockchain equipped with several functionalities and additional protocols. Reportedly, Bluenumber favored ProximaX due to its incredibly secure Distributed File Management System (DFMS). Furthermore, ProximaX has a peer-to-peer distributed network design which facilitates decentralization, as well as an impenetrable client-side encryption that guarantees the security of user data.
Additionally, the DFMS enables the network to be functional throughout. In this regard, ProximaX avails services such as decentralized document proofing, messaging, storage and streaming content delivery. According to the CEO of Bluenumber, B#Chain prioritizes trust between individual human beings. The collaboration with ProximaX is the perfect complement to the wide global reach that Bluenumber has on the supply chain. Moreover, compliance to GDPR regulations signifies that B#Chain is committed to respecting human rights of its members, regardless of their background or social status.
The ProximaX solution bears the benefits of an archetypal blockchain database, including time-stamping, immutability and irreversibility. Also, the system supports optional encryption of files, allowing users to secure the privacy of data by setting access permissions. According to the founder of ProximaX, Lon Wong , the partnership between his solution and Bluenumber is an ideal demonstration of how effective ProximaX is in ensuring GDPR compliance as well as security.
The essential components of the distributed ledger and DFMs are abstracted to form a service layer, thereby simplifying the usability of the ProximaX solution. Essentially, the simplicity of the service layer allows developers to integrate ProximaX easily without necessarily having an extensive knowledge of the core concepts of blockchain and DFMS technologies. This facilitates the easy building of decentralized applications on top of the ProximaX platform.
ProximaX is based on a peer-to-peer cloud storage and streaming architecture that connects all member nodes in a mesh network, thus decentralizing the entire network. As a result, when a single node fails on the network, it does not affect the overall performance of the system.
Regarding security, the ProximaX solution is immune to conventional threats to confidentiality since the system uses an encrypted, sharded and P2P file storage mechanism. The IPFS protocol will be used to enable decentralization of the storage. Multimedia streaming and messaging will be powered by the PeerStream Protocol which is currently being developed by PeerStream Inc.