Stratumn: Blockchain Technology helps companies to trust the millions of processes that connect the world
Paris based Stratumn is a leading provider of network solutions securing processes between enterprises and their stakeholders through blockchain technology and advanced cryptography. Stratumn helps companies securing and streamlining regulatory and compliance procedures. As companies become ever more connected to one another, and the security and integrity of their data is challenged, centrally managed information systems have proved their limitations. Their Proof of Process Technology solves a core dilemma for organizations: streamlining regulatory and compliance procedures, improving customer privacy and data protection, while reducing operational and back office costs.
Statumn offers a solution to insurers which allows them not only to significantly reduce their back-office costs but also serve as a solid foundation for traceable and auditable data. Their suite of network solutions provides insurers with an efficient and reliable way to streamline and secure the exchange of data between partners, customers, and regulators. Enterprises who adopt this technology benefit from better accountability, traceability and integrity of their records, while regulators may audit process data in real-time.
Proof of process Technology
Proof of Process, or PoP for short, is a protocol that allows any organization to securely collaborate with partners, customers, and regulators. By working together through the protocol, they can be assured that each step of a process is secure. Proof of Process Technology removes the burden of proof and brings confidence to business relationships. Proof of Process Technology solves a core dilemma for modern enterprises in a hyperconnected world: streamlining regulatory and compliance procedures, improving customer privacy and data protection all while reducing friction and transaction costs.
How does it work?
Proof of Process defines how companies collaborate on the same process by securing the “who, what, when, where and why” of each step in a cryptographic audit trail.
PoP uses digital signatures and integrates with existing infrastructure to securely record the participant’s actions in each step in a process. With each step signed, Stratumn begin to form the cryptographic audit trail.
There are many things Stratumn need to prove to their partners and regulators without risking their privacy. Proof of Process leverages powerful algorithms that allow them to create cryptographic proofs of their secrets.
It is critical that partners who work together have their systems completely synchronized. Proof of Process uses blockchain technology to establish a common timeline that guarantees accurate timekeeping for each step in the process.
With Proof of Process partners working together can be sure of the correct sequence of events. When all partners agree things move smoothly.
Unless you were born in the blockchain, you’ll need your cryptographic proofs to mean something in the real world. Proof of Process allows to connect each step of a process with legally binding documents and contracts.
Why we selected Stratumn for DIA Munich
The Proof of Process Technology developed by Stratumn enables companies to embed security, traceability and transparency into their mission-critical business processes. With big potential savings on compliance and back-office costs they are building the layer of trust that the network economy needs to blossom.
Who is Stratumn?
Founded in 2015 by 3 co-founders, Richard Caetano, Sebastien Couture and Stephan Florquin. Now a team of 20 people in Paris and the US.
In June 2017, they announced the raise of €7M in a series A funding from Open CNP, the Corporate Venture arm of CNP Assurances, Otium Venture, Nasdaq and Digital Currency Group. Less than two years after its inception and one year after its seed financing, Stratumn has accomplished the largest funding round to date in the European blockchain and data security ecosystem. The funding will accelerate Stratumn’s development and expansion into the U.S. and it will allow the company to accelerate its development, notably by focusing on research, product design, and business development, as well as by continuing to attract talented individuals to join its 20-person strong international team – the company aims to double its size by the end of 2018.
The 4 co-founders of Stratumn
Presenter: Sebastien Couture