When getting started with a blockchain project, it is often difficult to visualize the many different ways data can be stored and interacted with on-chain. Neblio’s rich enterprise data management features give users a wide variety of unique options when deciding how to structure their data transactions. Throughout this series, we’ll discuss some of the data management features that make Neblio unique and how they may apply to various real-world industries. You can find Part 1: Tokenized Permissions, here and Part 2: Fan-In, here.
“Fan-Out” is a term used to describe a scenario that is the reverse of Fan-In. Streams of data originate at a single source and are distributed out to many or multiple users. The example we will use for Fan-Out is a similar but opposite scenario to the example we used for Fan-In. In this scenario, our global retailer wants to use blockchain to keep all of its tens of thousand of vendors up to date with inventory counts in all of its stores, without sharing that data publicly.
The main goal of our retailer is to track inventory levels over time on a store-by-store basis and securely communicate those inventory levels with the vendors that supply those goods. With this information vendors know exactly what inventory is in each store, when they may need to send additional inventory and where to send it, and due to all data being stored on the blockchain, vendors are able to run analytics on the data to determine sales trends in certain areas of the world or at certain times of year.
Our retailer will use the same SHOP NTP1 token created in Part 2: Fan-In to communicate inventory data back to its tens of thousands of vendors. Due to Neblio’s NTP1 Encrypted Metadata, all on-chain communication from our retailer to each vendor can only be read by that vendor. Two vendors that both sell competing products at our retailer would not be able to see their competitor’s sales or inventory data due to this encryption.
For example, our Lettuce Vendor would receive a SHOP token transaction from our retailer each time one of its packages of lettuce was sold. This will include the location where the sale took place, how much inventory is remaining, pricing, and other important data. No competing lettuce or produce vendors would be able read this data, despite the transaction occurring on the public Neblio blockchain. Similarly, our retailer will use SHOP tokens to communicate sale and inventory data to our Electronics Vendor, Clothing Vendor, and all other vendors. Each vendor has a complete view of their (and only their) inventory in our retailer’s stores and warehouses at any given time, including a complete, immutable history of the same data that they can run analytics and forecasts against to make predictions for future trends.
Once again, the possibilities of this setup are limitless and unique to Neblio’s blockchain. The same setup could be used in any scenario where a single or a few entities need to communicate data to a wide audience of many individuals in a secure fashion. All of this work happens behind the scenes, our retailer simply needs to send SHOP tokens with their inventory and sales data to each individual vendor and enable metadata encryption, that’s it. Decryption of each individual transaction to each vendor happens automatically and only each individual vendor is able to receive, read and process all of the data in a highly-secure way. From data-feed subscriptions, to real-world event alerts, and everything in-between, distributing securely-encrypted customized data to many recipients is a native feature that only Neblio can provide.
If you have any questions, comments, or ideas regarding Fan-In NTP1 Transactions on the Neblio blockchain, we encourage you to get in touch with the Neblio Team to schedule a meeting to learn how Neblio and NTP1 tokens can help your business or organization grow to the next level.
Neblio is an Enterprise Blockchain Platform focussed on simplifying blockchain technology for business. Neblio’s lightning fast & scalable blockchain, APIs, NTP1 Token Protocol, and unique services offerings allow clients to easily and quickly utilize blockchain and distributed ledger technology to radically improve efficiency, reduce go-to-market time, and dominate their competition.