Technology

Technology

The stupidity of what we read about blockchain in enterprise  continues to astound us.  The logic seems to go something like this: cryptocurrencies are cool - let's solve problems by "putting X on the blockchain".  This makes zero sense. Taking a solution that was designed to solve one problem (cryptocurrencies) and then thinking this can be applied to other problems is equivalent to  "I have a hammer, everything looks like a nail".

Distributed ledger technologies (DLT) are an even worse idea. They are just a really bad design with  DLT projects spending more time setting up governance working groups than actually solving business  problems.  They will eventually be assigned to the dustbin of history. As far as we can tell are just being used by major technology companies to get people in to a room to sell them more cloud services.

At Guardtime we have a different approach. We focus on the customer problem first and then define  the cryptographic components that are necessary to solve the problem. Over the last decade we have done exactly that - we have avoided the limelight, worked with partners and written code. We now have over 150 cryptographers and software engineers who continue to build a stack of technologies in line with the Unix philosophy - each layer in the stack does one thing well.  This enables us to go to market very quickly  - we work with partners and can go from prototype to production  in a matter of weeks with technology that is proven to work at industrial scale, is accredited to be deployed on government networks, and delivers performance, scalability and security.

The academic pedigree of Bitcoin often goes unknown (see here).   We have been active participants in that history since the 1990s.  We formed a company in 2007, not to build a digital currency system but to build a system that would eliminate the need for trust within government networks. More specifically the ability to validate information - whether a configuration file in a network router or a health record in a hospital database, without the need to trust those who are managing that information. 

Ultimately blockchains are just tools - plumbing in an overall solution that solves a client problem. Our mission in life is to leverage the tools we have built, work with partners and build the highest quality  enterprise products.