The Proof of Trust: Introducing a new protocol to provide data verification and dispute resolution solutions in a contactless manner.
It is no exaggeration to say that the world is facing its biggest peace time challenge in modern times. All aspects of life are currently affected and the future is deeply uncertain.
What is required is not to seek to apportion blame or confound genuine efforts with obstacles, but to promote all of our collective efforts into finding solutions. Solutions which will provide genuine assistance in seeking a return to what is familiar.
Everyone is crying out for a semblance of certainty and assurance in their daily lives be that comfort over efforts to check the spread of infection or to allay fears over their economic future. We at the Proof of Trust don’t claim to have all of the answers. There is no panacea. However, what we can and do offer is a ground breaking new way of analysing and verifying data, and providing the tools to resolve disputes and to ensure that business interruption is kept to a minimum. In short to provide some assurance to an uncertain world, and all of this is capable of being done remotely.
Due to its ability to be able to provide assurance on all contracts, be they smart or otherwise, The Proof of Trust is uniquely placed to lead, not merely be part of the changes. Here are just several of the ground breaking characteristics that The proof of Trust has to offer:
1) A protocol which allows for dispute resolution in a time efficient manner, either on or off a blockchain, including cross-border, without the need for face to face interaction.
2) An ability for businesses to continue vital operations such as data verification with integrity and assurance, all of which are achievable from the comfort and safety of our own homes wherever appropriate.
3) The Proof of Trust’s data verification tool which can, for example, assist Governments in assessing and verifying grants and relief packages for the most vulnerable members of our societies, such that a more prompt and effective recovery can be realised.
4) A dispute resolution facility to circumvent traditional, slow, expensive and often laborious court systems, arbitration and mediation services, thereby facilitating efficient business processes and minimal contact – pertinent in a time where social distancing is advisable and where legal disputes will be frequent but resources limited.
5) A distributed consensus protocol – With the growing pressure on our health care systems, our protocol can be used to verify essential checks, such as the number of people tested for a virus – this may be something which happens increasingly and may be imminent in certain regions. The Protocol also lends itself to the assessment of allowances in the event of rationing of resources such as food.
6) As remote working becomes a new normality, commerce and industry will need to transact business and contracts at distance and without face to face meetings. The Proof of Trust is readying able to bridge this gap and to provide a scalable and cost effective solution.
7) The protocol has the ability to supervise and verify democratic processes such as elections and other voting. The protocol is so adaptable and agile, it can be used in areas which may not be immediately apparent
8) These are just some of the ways in which our technology can help facilitate a global recovery, whilst difficult times undoubtedly lie ahead, we at The Proof of Trust can help to mitigate many of these circumstances.
The Proof of Trust publicly announced on 17th January 2020 of its intention to list on the main market on London Stock Exchange. Notwithstanding the difficult market conditions, The Proof of Trust is confident of investor appetite in its shares and continues to prepare for its listing and with a view to going to the market at the earliest opportunity.
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