CPChain(Cyber Physical Chain) which is a full scale data infrastructure that is meant for the next generation of IoT systems has announced the debut of PDash, an architecture for data storage and transfer. This new solution is aimed at improving cost, security, privacy, and efficiency of the current IoT which means Internet of Things Infrastructure.
According to the CEO of CPChain Dr. Long Chengnian,
“IoT is still fragmented and consists of different fraudulent data, incompatible systems, risky open network sharing and many other factors that might lead to a breach, however, PDash tackles these major problems by establishing a connection between data providers and its users in a more efficient and secured manner with the use of a chain that stimulates and unites all the participants involved in the sharing of the data. We are happy to give our current and future users and inside look into our innovative platform”.
PDash has different features which involves the proxy network feature as well as the wallet and market features. These very innovative offers make use of encrypted data on a blockchain or distributed ledger to achieve better security and transparency. The wallet feature of PDash allow users to manage data when making a purchase and also to make transactions with a focus on the value and sharing life-cycle of the data.
Users are allowed the opportunity to view and purchase data or even to upload for sale in the platform’s market place. PDash also offer rewards to valid transactions while it punishes fraudulent ones, making use of its special tokenization strategy.
Provides Quick And Easy Ways To Share Information
On its basics, the platform gives users incentives to share information that assures the quality of the data that are listed on the marketplace even without enlisting costly third party support from data miners. Lastly, the platform also uses decentralized proxy network to that the user’s data is intact and that he can retrieve it at any time, thus improving data accessibility.
CPChain’s PDash has the capability of simultaneously serving very many applications across various industries especially those who are prone to the dangers that are inherent in the IoT. Among these companies are industrial /supply chain, transportation /automotive, medical and finance, etc. The platform already holding discussions with the BMW company and Link & Co among others on potential applications.
Raised $30 Million In Just 2 Days
Currently, CPChain has taken giant strides already within the industry closing up on about a $30 million in less than 48 hours via a private sale and also and also gaining a lot of support and attention from partners and investments like TIOTA (Trusted IoT Alliance, HPB (High Performance Blockchain), Qtum, VeChain and so many others.
The CPChain team is being led by Dr. Long Chengnain who is the CEO and founder of CPChain alongside the co-founder, Dr. Zhao Bin who has three IoT inventions patents to his name.
The PDash platform will be available in full by October of 2018.