Why We’re Building Etherprise — Part 1 of 4
This is a 4-part series written by Chad Arimura, CEO, and Jameson Stafford, CMO, about why we are building Etherprise. Part 1 talks about the market landscape, the problems with today’s blockchain networks, and introduces the platform. Part 2 delves deeper into the platform and technology. Finally, parts 3 and 4 close the series out with some use cases and a forward-looking ten-year prediction on where blockchain will have the most impact for the enterprise of tomorrow.
The Market
Like many people who’ve made the leap into the blockchain industry, we fell in love with the promise of the technology: A decentralized, immutable platform that serves as a single source of truth, owned by no one, and everyone. For our founding team, who have helped shape the path of technology since the early days of the internet, blockchain was the shining light that would blast through the opaque, monolithic systems that dominate business today.
Having each spent 20+ years building and selling enterprise-grade software and SaaS platforms, we also understand that what we consider to be the holy grail — a truly decentralized, scalable, public shared platform for conducting business — will require features beyond those that exist on current prominent blockchain protocols. Enterprises are much bigger and more complex than most people can fathom — often with hundreds of thousands or millions of employees. For example, the IT department at Bank of America is around 80,000 employees. Organizations like this require strict controls over access to data and visibility into all levels of any technology deployment — without such control, they simply won’t even look at a technology solution. But this degree of control doesn’t exist on any public blockchain today.
Every enterprise (and DApp that interacts with data that’s typically reserved for enterprises — medical, financial, security) faces an additional problem: Data stored on nearly every public blockchain is unencrypted and fully exposed. This is one of the greatest problems facing blockchain adoption across any use case where privacy is needed — and in the enterprise world, that’s nearly all of them.
Our close relationship with GoChain (the top-performing Ethereum-compatible, unencrypted blockchain protocol) has granted us a great deal of insight into the need for a secure, encrypted public protocol. As a member of the Enterprise Ethereum Alliance (EEA), which includes many Fortune 500 companies, the GoChain team has heard first-hand how privacy has been a stumbling block to adoption. And as a popular protocol for DApp deployment, GoChain regularly receives requests for privacy on the public chain — something GoChain cannot accommodate due to its need to remain 100% Ethereum compatible.
Until now, there has been no solution to achieve this level of privacy, other than to implement private (behind the firewall) chains, or off-chain storage, which reduces the value of blockchain. There is a clear and present need for a protocol like Etherprise, and the blockchain industry as a whole will benefit from its creation.
In the next post, we’ll describe the platform and technology and how it solves many of the challenges outlined in this post. We’ll talk about the critical modules of the Etherprise platform, namely Encrypt, Keys, and Roles, and also include a bonus section on the importance of interoperability in the industry.
Stay tuned!
Chad and Jameson
Join Us in Helping Bring Blockchain to Enterprise!
We are at the forefront of a massive change in the way enterprises transact with each other, and Etherprise exists to address the gaps in security, privacy, control, and speed necessary for this change to happen. With Etherprise, Enterprises can start using blockchain immediately while not worrying about the complicated installation and setup of private chains.
We’re hiring great team members as fast as we can to join the mission of bringing blockchain to the enterprise. Check out our jobs page for current open roles, and don’t hesitate to jump into our Telegram channel to say hi!
Learn more about Etherprise at https://etherprise.io
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