Competitive Edge and the Blockchain

A Skelpy Solution

The last thing anybody wants at an ATM machine is someone watching their transactions over their shoulder. While businesses don’t have to worry about queuing up at an ATM, they are just as fiercely protective of their financial transaction history, considering the competitive advantage. Knowing the “whens”, “wheres” and “hows” of the competition’s cash inflow and outflow is one of the most important tools for benchmarking performance. Benchmarking the financial health of the competition highlights the financial and economic factors behind the growth of the company and the areas to address without sinking time and resources into accumulating this information first-hand. Herein lies the problem of blockchain adoption.

The blockchain truly is a technological tour de force; an immutable, public ledger system that cannot be owned by any single entity, corporation, or government or tampered with. The blockchain is designed to resist changes and modification to any data recorded on it. It also replaces the slow centralized transaction verification system — banks, government, clearinghouse — with an immediate, decentralized verification generated from the consensus of multiple users. This decentralization is eliminating the cost of financial intermediaries and the clogs that often bogs down verification and authentication of transactions. However, most businesses continues to shun the blockchain, preferring the highly expensive and often complicated system that continues to take out chunks from their productivity and profitability. The reason is as simple as the blockchain’s most powerful feature; transparency.

The blockchain’s transparency means you can take the Bitcoin, Ethereum, Ripple address of any person and see their entire transaction history and worth of the wallet. While that sounds next to paradise for auditors, it’s the stuff hellscapes are made up for businesses looking to protect their competitive edge. Yet, transparency is not only desirable, but also critical to improving efficiency and productivity. This is the problem at the heart of Skelpy Certified Portfolio solution.

What is a Certified Portfolio?

A certified portfolio is a digital asset wallet whose legal identity and ownership has been been verified through legally-compliant procedures. These procedures ensures that the entity owning the wallet is exactly who they legally claim to be in real life. It also ensures that all transactions with this entity can be legally attributed to them without disputes.

Certified portfolio users have the ability to set the level of privacy for their portfolio, affording them absolute control over what they make visible and to whom. This is a great feature for businesses who may wish to make their transactions completely transparent to the legally certified portfolio of an auditor, while limiting access to the public, or blocking it off completely.

With Skelpy, businesses no longer have to worry about trading off their privacy for the ease and cost reduction the blockchain affords. Neither do they have to worry about being legally complaint and identity of the counterparty they are transacting with.

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