The Proof of Trust has the only globally patented protocol specifically designed to act as an assurance layer; validating data and preventing invalid or insecure smart contracts from executing.
Our ground-breaking technology gives businesses and governments the protection and peace of mind they need to flourish, bringing instant trust to transactions across the globe and resolving contractual disputes in a fast, fair, and cost-effective way.
“My hopes for the collaboration between IBM and The Proof of Trust are that together we can conquer the world”Leofwin Visman, Managing Director, IBM Client Innovation Centre
Our vision is to be the preferred provider of dispute resolution across the global commercial and government sectors.
Resolving disputes, whether contractual or not, can quickly drain time, energy, and resources. This can lead to plummeting levels of productivity, gross inefficiency, and costs that quickly spiral out of control.
The Proof of Trust is an in-built layer of protection - giving peace of mind across business transactions and contracts by providing a system of resolution that is extra judicial and extra jurisdictional.
Our technology can be seamlessly integrated into both blockchain based and legacy technology with enterprise grade security.
If a contractual dispute is triggered, The Proof of Trust application selects highly skilled, accountable, and anonymous individuals (Delegates) from anywhere in the world to adjudicate on disputes.
The algorithm selects Delegates with relevant expertise and ensures they are unable to communicate and compromise proceedings, while simultaneously shielding them from influence by either participant involved in the dispute.
Decisions are reached rapidly and with integrity, increasing productivity, providing clarity, reducing resolution time, and reducing associated costs.
In a world that demands speed and security of resolution, the Proof of Trust is a true disruptor.
From protocol to patent to product, our journey started with a clear vision for The Proof of Trust protocol:
The Proof of Trust founders are constantly watching and engaging with the technology space - waiting to see where the next big disruption will come from.
As true entrepreneurs and innovators, they’ve seen the rise of blockchain but without an assurance for any transaction or contract executed digitally. Spotting a gap in the market - and something no one else had thought through - The Proof of Trust protocol was created.
The partnership with IBM establishes the unique relationship which underpins the ground-breaking technology of The Proof of Trust. The IP within The Proof of Trust has over 30 granted patent claims and the global patents are all granted by the United States Patent and Trademark Office.
There are two defined products: Nebula, for governments, and Cosmos, for commercial applications. The development costs for the product are complete, there will be limited investment needed for additional use cases from 2020. Alongside this, the product is agile, can be rapidly deployed, and easily scaled. Set up costs are limited, aside from the recruitment of delegates under Cosmos.
As we enter uncharted territory following the COVID-19 crisis, pragmatic digital solutions that drive business continuity are more important than ever.
Streamlining otherwise cumbersome and timely manual processes, which are key to the lifecycle of business transactions, will ensure protection for all in a trusted and independent manner, stimulating trade and driving economic growth.
Alongside this, the need for business to be conducted remotely with high levels of trust has never been greater.
The potential applications of The Proof of Trust’s technology, through our Cosmos and Nebula products, are numerous and vast. Given the current global situation, there will be an initial focus on targeting three main use cases:
Smart Governments use technology to help make better decisions, improve the democratic process, and transform the way public services are delivered. We recognise that, despite the current pandemic, the transition to smart government is dependent on the specific economic and political circumstances of a country.
While our priority will be G20 member countries we will also target large new world countries who are demonstrating willingness and progress in their transition to a digital economy.
Social good includes international (and third sector) organisations and applications where our technology will be used to “preserve the good”, for example analysing the validity of Covid-19 support schemes. 2020 has shown us that many of the global governmental schemes set up to alleviate the financial impact of the pandemic on businesses and individuals, have been targeted by fraud and possible corruption. The Proof of Trust technology can help to identify and reverse this trend. We believe that early adoption of our technology will substantially reduce opportunity for collusion and fraud.
Technology continues to reshape the way individuals and businesses interact. Blockchain and smart contracts are at the heart of this evolution.
The commercial application of our technology, using the Cosmos product, makes dispute resolution simple, fast, and cost-effective. Taking a ‘faster is better’ approach, it can deal with commercial disputes at scale, agnostic of industry, dispute category, or jurisdiction and has been built for industrial scale by our development partner IBM. This technology is relevant across a diverse range of verticals - including supply chain, energy, and real estate - but we will focus on insurance and the broader financial services sectors for the initial phase.