Digital Cognates are the building blocks of our risk, governance and compliance applications.
Digital Cognates connect any element of Value in the physical world with its supporting Affinity Data in the logical world making them trustworthy, unique, immutable carriers of Intrinsic Value.
Value can be raw material, finished products, proprietary processes, IPR, software, documents, contracts, content, transactions, people, credentials, entitlements, privileges - anything denominated by its owner.
Affinity Data is designated at any location in any format, and authenticates, underpins, validates and secures the Intrinsic Value of the Digital Cognate.
Readable Elements are found in every element of value and transformed into a unique identifier “UID” linked to its Affinity Data. Readable Elements include: barcodes, QR codes, NFCs, RFIDs, multimodal biometrics, IoT / MEMs / PLC devices, GPS coordinates, chemical and electromagnetic signatures or any other readable characteristic, which Chain of Authenticity transforms into a UID.
Centralised Immutable Archive aggregates and packages Elements of Value, their UIDs, and Affinity Data as Digital Cognates. They cannot be erased or altered, only updated. Therefore, Digital Cognates are invaluable in delivering Certainty and Finality prior to Settlement.
Digital Cognates can be configured to support any genre of financial transaction, industrial process, integrated value chains, binding contracts and other risk, governance and compliance applications that require trust, performance and provenance captured in an immutable archive.
Digital Cognate architectures provide powerful solutions to problems that prevent the management and resolution of risk, governance and compliance challenges. DocuChain has solicited from its partners and end users the “points of pain” and the “must haves” that relieve the pain.
Digital Cognate Application Stack drives progressive layers of value.
The foundation element for the creation of a Digital Cognate architecture is Chain of Authenticity. Each subsequent application adds more value, more trust and assures your Outcome.
Chain of Authenticity: Our foundation or genesis application which is a trusted link between physical assets, processes and people - or any other designated element of value - to its associated affinity data that supports a defined Outcome.
Chain of Accord: Human and machine readable, granular, Ricardian contracts and technical processes that are legally binding and computationally linked to its associated Digital Cognate.
Chain of Insight: Chain data is harvested and immutability archived. This data can be analysed using machine learning and artificial intelligence to improve Outcomes by using probabilistic outcomes in combination with deterministic Cognates.
Chain of Value: Tokenisation of the Digital Cognate to facilitate trustworthy transfer of value between parties in an integrated, permissioned value chain with certainty and finality. Allows settlement to be undertaken in any chosen medium: fiat, central bank digital currencies, crypto, stable coins, commodities or other forms of consensus-based payment – whether centralised or distributed or peer-to-peer.
OUR UNIQUE APPROACH TO DATA SECURITY AND IMMUTABILITY.
DocuChain does not use distributed ledgers, which are too slow, too complicated and too anonymous for most risk, asset and performance management applications. End-users want transparency, auditability and accountability for governance and compliance. We do not retain or record copies of any original data, but allow end-users to do this in their own licensed version of Chain of Authenticity.
The Centralised Immutable Archive keeps “forever copies” of all data:
Hashed Metadata of all data objects;
Anonymised Access Logs of all user activity.
By comparing the Archive with original data objects and end-user’s directory, real time audits of data veracity are generated with anomalies known only to end-users.
Chain of Authenticity provide:
Version Control (you can never destroy one, but you can provide an updated version);
Access Control to Permissioned Users;
up to 3-Factor Authentication (you must have access to the Readable Element, you must present an agreed biometric, you must use your account login and password).
However, Transfer of Value, another Digital Cognate application, can be processed using centralised platforms like SWIFT or distributed ledgers like Ripple and Corda.
A DIGITAL COGNATE ARCHITECTURE IS EASY TO IMPLEMENT AND COST-EFFECTIVE.
Digital Cognate avoids large change projects by integrating with legacy and cloud systems using its containerised, API architecture. Hosted in the cloud (or in your own infrastructure) avoids the requirement to radically change underlying business processes with an incremental roll out. Digital Cognate reads information about your business as opposed to changing it.
Digital Cognate can be tailored to specific risk and user preferences, so there is a heavy emphasis on a simple intuitive user-experience. This creates process efficiencies, provides trusted checkpoints and generates consensus-based results. It’s all captured in real-time on contextualised dashboards.
Original data remains in its current repository or harvested into an end-user database with permissioned Access Control (GDPR compliant). Data is hashed before being archived. Our APIs allow use of centralised (AWS QLDB) as a immutable archive and Corda as a permissioned peer-to-peer ledger for transfer of value.
Digital Cognate has bespoke vertical offerings with a common, superior user experience achieved by use of MS Office Add Ins, API’s, wizards, simplified menus, and user friendly navigation tools. This flexibility allows an easy refit for changing preferences as the business, risks and culture change.