How do you achieve a competitive edge in managing risk, governance and compliance?
Whether you are in the boardroom, managing a business unit, part of an internal governance team or assembling a project team in another country, achieving these outcomes is becoming a dominant measure of your performance. And performance is more easily achieved with horizontal and vertical alignment of teams. Risk, governance and compliance cut with two edges:
Downside, where penalties, sanctions and reputational damage are self-evident;
Upside, where transformative, competitive advantage can thrive!
Fortunately, there is no shortage of data, models, processes, transactions, contracts and other important determinants of outcomes, held in disparate legacy and cloud architectures.
What is a Digital Cognate?
A Digital Cognate is digital asset, that you define, create, and over which you have control.
Digital Cognates will become the trusted building blocks of commerce and government, because they have intrinsic, authenticable value. Cognates are not an intermediate medium for the transfer of value. Cognates have intrinsic value, and therefore, define and protect value for any asset you designate.
Digital Cognates provide a transparent, consensus-based link between any element of value (both tangible and intangible) and its designated affinity data. Every Digital Cognate provides hard data points, as agreed by its creators, that clearly validate its value (not an anonymous pool of nodes and algorithms like crypto).
The DNA of every Digital Cognate is defined by you, and it includes: title, quality, certifications, IPR, contracts, credentials, location, and any other unique characteristics that validate its value and are captured “forever” in its provenance, an immutable archive.
Digital Cognates cannot be erased or altered, only updated with full version control - and provenance – captured in your immutable archive. Digital Cognates are fully under the control of their creators and do not require the intervention of third parties - who add transactional friction, cost, and risk.
What are Digital Cognate Applications?
DocuChain has developed Digital Cognate as a sorely needed bridge between centralised and distributed architectures. Digital Cognates are created and managed in Cognate Applications that provide real time authentication of transactions, operations and processes delivering trusted outcomes, as designed and designated by the parties.
Cognate Applications offers better security of data and are faster and more scalable than blockchain. All data stored outside individual parties’ systems is hashed to ensure privacy and embed security. By integrating state-of-the-art and industry standard ledger and cryptographic techniques, it provides a unique system of unimpeachable historical data trajectory.
“Cognate Applications” embed the trust, performance and provenance required for all mission-critical operations and transactions.
Cognate Applications are used for Risk, Governance and Compliance Management across a diverse range of sectors. Our current focus is on:
asset managers, reinsurers and other responsible for diverse, multi-jurisdictional asset pools;
high-value, “artisanal” manufacturing such as aerospace, defence, transport, energy;
global trade finance, logistics, supply chain security;
financial payment and clearing services to reduce calls on liquidity and margin, while providing certainty and finality before settlement;
enforcement of government privileges and entitlements.
Digital Cognate is an API-driven, cloud-based platform which easily and cost-effectively operates with legacy systems, delivering financial, operational and reputational returns. Digital Cognate is a PaaS licensed to users and developed in partnership with leading sector specialists, consultants and integrators.
Cognate Applications include:
Chain of Authenticity is our genesis or foundation Cognate Application and to which all other Cognate Applications are dependent. Authenticity offers intuitive and easily managed user interfaces to support performance optimisation and risk management by creating a transparent real-time single source of truth reflecting consensus on KPIs, and flags significant deviations from desired or expected outcomes. Data can be extracted and presented to meet management and governance requirements at all levels from operations room to Boardroom. Available now.
Chain of Accord uses transparently verified data to create legally binding composite contracts in which the human-readable agreement is immutably linked to its transactional code. Chain of Accord supports the intentions of the legal profession whilst providing the confidence and transparency that agreements will be automatically executed. Under development, release Q2 2021
Chain of Value provides the mechanism for the secure and trackable transfer of tokenised value for external settlement in fiat or crypto currency. Under development in partnership with LAB577, and like DocuChain a member of the R3 Corda ecosystem with release Q2 2021.
Chain of Insight facilitates complex analytics applied to the data secured by Digital Cognates to benchmark and enhance performance. Under development, release in Q4 2021.
For more information and a demonstration please contact:
Philip Leone – CEO DocuChain Ltd
+44 (0) 7925 686510