Together we will be exploring smart contract and blockchain integration with the aim of creating efficiencies and automated processes within the tourism industry, with a special focus on Iceland.

Dan Stacey, a Director at Discover the World explains: “Whilst it is still early days for this technology, there is evidence to suggest that as advances continue to be made and blockchain becomes more widely implemented, this will lead to further practical use cases. Currently we are looking longer term, rather than for immediate quick wins. For the vast majority of organisations, especially small to medium enterprises, they cannot justify working through the implementation process, especially if there are only a small number of partner organisations involved. Hence, the objective here is to support North East and encourage the development…


Risk and Exposure

When data is coming into your smart contract from an external source, it must be ensured that it is as accurate, reliable and as trusted as possible. This is due to the immutable nature of blockchains and the possible business exposure to risk or extra costs. When creating smart contracts with North East you can pick the amount of decentralisation, or security, the contract necessitates as well as the required amount of collateral North East must put up to guarantee the accuracy of input data. …


Private/Siloed data

Companies have been hording data since digitization became a necessity, and they have been increasingly paranoid about giving out access due to data breaches over all industries. At North East we alleviate risk and liabilities when interacting with outside data while allowing you to generate an income from your data through bridges linked with smart contracts. All data is trustless, secure, and tamper proof with all the infrastructure code used being open source and fully audited. …


Why Business Cases?

The question “Do you really need a blockchain?” will be of paramount importance to North East when deciding which Business Cases to take on. We require a client to provide a Business Case for an internal efficiency increase based upon the amount of time or money an operation takes compared to overall expenditures. We will examine all aspects of the Business Case to ensure that a valid use of blockchain technology exists, and that our technology can compliment business operations to provide cost saving efficiencies.

Streamlined Team

When utilizing other integrators or consultants they will often charge…


Blockchain/DLT

With all the hype and billions invested into crypto currencies, most really don’t understand that a blockchain (Distributed Ledger Technology) is nothing more than a fancy database without administrator control. Blockchains are immutable which means they cannot be changed after the data has been entered. This creates significant risks to those required to interact with a blockchain, especially an Enterprise DLT, as they would be liable for erroneous data input.

Middleware

A solution to this issue is decentralised middleware and the consensus reached through aggregated answers. As any single centralised point in a system can be targeted, it is…

North East

Bringing the 4th Industrial Revolution home.

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