Data without Boundaries: Pacio harmonises global data
In today’s globally connected world, data is the key to everything, including power and wealth, with data becoming the ubiquitous commodity of the 21st century. All entities and people wherever based, from Australia to Zimbabwe, will need common or standardised ways to store, access, compare, manage, analyse, exchange, transact, and audit their data. Yet the current reality is far from that, with most data held in isolated incompatible silos, in many cases controlled by others for their benefit rather than for the benefit of the owner/creator of the data.
The result is a huge loss of opportunity versus what could be, expensive inefficiencies, a loss of control, a loss of privacy, and security holes that provide a bonanza for criminals. Pacio will change the reality by delivering the Data without Boundaries future, which will greatly reduce data redundancy, knowledge gaps, fraud, and expense while increasing opportunities, privacy, and security. Data silos will be replaced by harmonised real time knowledge. This needs a new standard and an environment where data is standardised and controlled by its owner/creator. Pacio is creating this standard by building a standardised, semantic platform enabling data to be interoperable, managed, and accounted for without boundaries.
The Pacio platform will:
- Standardise and simplify the storage, exchange, and comparison of data, both inside an entity and globally, via a new standard for secure and private immutable decentralised data — the semantic blockchain
- Improve both security and privacy controls, with entities or persons having full control of their own data
- Reduce the cost of storing, managing, comparing, and processing data
- Minimise opportunities for fraud • Include Fiat and Crypto accounting and management as an intrinsic part of the system
- Provide real time business insights boosting bottom-line performance In the fight against fraud, Pacio’s inbuilt accounting intelligence allows:
- Transparent, immutable and incorruptible accounting
- Easily verifiable records including inter entity ones
- Sharable and comparable data across entities and jurisdictions
- First seamless technology to “follow the money” Pacio has identified that:
- The need to process standardised, semantic data will explode in the years ahead
- The cost of trying to manage or create connections between the flood of data will grow exponentially with the increasing number of likely interfaces
- No existing system adequately addresses the need Pacio’s solution is blockchain and decentralised database based, standardised, semantic and rich in business intelligence.
The founders have pioneered digital accounting and management data practice over four decades and are ideally placed to shape business data in the 21st Century.
Originally published at Pacio.io.