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How blockchain solves the challenges of modern business

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news
December 15,
2020

How blockchain solves the challenges of modern business

Blockchain technology has proven to be unique in transmitting digital values and providing a high level of trust and security, thus paving its way in various industries.

Netis, led by Tomislav Mučić and Andrej Plankar, deals with finding answers on how blockchain technology helps companies digitize and simplify processes.

We have been advising domestic and foreign companies in planning and installing blockchain solutions in business for many years, whilst also helping them in their development. With our blockchain framework, AceBlock, which, in addition to a secure data exchange communication network, includes modules for the user (AceID) and devices identification (AceIoT) and data storage (AceSpace), we ensure that this type of development is simple, fast and cost-effective.

Projects that focus on digitization

Our technology is already used by some domestic companies. We are most proud of our cooperation with a renowned provider from the energy sector, whom we helped innovate the communication between stakeholders in e-mobility.

During this period, we are also accelerating our efforts to apply for projects that focus on digitalization and draw development funds from European tenders. Along this path, we have already become technological partners or subcontractors for the blockchain in several ambitious projects, including Tourism 4.0, which is building a single platform for tourism service providers in Slovenia. We will also participate in the development of a solution for easy data exchange and authentication into an online service. However, we expect even more such collaborations in the future, so we kindly invite companies with similar plans to connect.

Development of a new platform MyNextID

By applying to the eSSIF-Lab competition, which is part of the Next Generation Internet (NGI) initiative, we also obtained start-up funds for the development of a new product, namely the MyNextID platform, which will be a meeting point between providers or developers of self-sovereign identity (SSI) solutions on the one hand, and web service providers on the other.

For some, blockchain is still associated with cryptocurrencies, nevertheless the technology has proven to be unique in transmitting digital values and providing a high level of trust and security, paving the way for its use in variety of industries.

This is also due to the fact that users want to access to services digitally, whilst e-service providers are facing increasing challenges to ensure security in remote identification and identification, with existing technological solutions not giving a simple answer. Consequently, the user experience suffers the most.

The EU is betting on the blockchain

The digital landscape will undergo many changes in the coming years and the long-awaited acceleration of e-commerce is ahead of us all. In this area, the EU is betting a lot on the blockchain. Under the auspices of the EBSI (European Blockchain Services Infrastructure) project, the EU is establishing standards and parameters for technology infrastructure that will enable entities (users and businesses) to secure, private and fast cross-border transactions online. The project brings together more than 30 countries, including Slovenia, and experts from Netis work as members of the technical team responsible for the architecture and building blocks of the emerging infrastructure.

E-identity to simplify online procedures

Netis experts are also included in the eSSIF (EU Self-Sovereign Identity Infrastructure) working group, which deals with e-identity that will simplify online procedures for verifying users. The aim of the working group is to set up an infrastructure that will enable European citizens to enter several different public and private services securely online from a unique entry point.

Unlike today, users go through the identification process only once and obtain a verified electronic identity, which they can then use with another online provider. Such digital identity system will enable businesses to establish independent but connected ecosystems on the Internet, thus managing the growing complexity and at the same time meeting the various needs and expectations of end users.

Highly educated and established professionals

At Netis, we are thus convinced that the demand for blockchain-enabled solutions will increase tremendously in the coming years. Therefore, we invest a lot in education and communication with the business public and our team, built of highly educated and established experts.

We are also founding members of Blockchain Alliance Europe, which connects, represents and promotes economic entities operating in the field of cryptocurrencies and blockchain, and members of Blockchain Think Tank Slovenia, Infrachain and Enterprise Ethereum Alliance.

This article was originally published in Finance IKT Informator [15.12.2020].

Learn more about us

AceBlock is a blockchain technology framework which enables companies to develop innovative solutions on top of our modular infrastructure. One of its critical ready-made building blocks is AceID, with which any holder can present verifiable credentials everywhere online

AceID is based on a concept of an SSI (Self-Sovereign-Identity) which promotes that digital identity becomes a right for every individual. Because it is portable, it allows online privacy and free movement between different web providers or services from one point, which is possible only when the individual becomes the owner of the data.

Give it a try and contact us at [email protected] for more.

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[LECTURE] Why is SSI becoming a necessity and what potential it holds?

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news
November 12,
2020

[LECTURE] Why is SSI becoming a necessity and what potential it holds?

Recently, we were guests at the Blockchain Alliance Europe event, which focused on blockchain technology application for business purposes. The event was our opportunity to address more than 200 registered participants from more than ten countries and present our views on the rising challenges in the digital landscape today. What is more important, we introduced the solutions we have developed to tackle them. 

The fact that a greater digitalization of services is needed is not something new. However, the pandemic has made us even more aware of it.  For this reason, our lecture focused on a crucial element that is needed to enable a further expansion and growth of safe and secure online services. 

Jan, who is a blockchain developer and IT project manager in the field of blockchain, distributed storage and distributed computing at our company, introduced Self-Sovereign Identity. This new and easy solution dramatically improves the way we communicate and transact online. 

Here are the key takeaways, and what is best, you can now watch the entire lecture too.

First, Jan has walked the audience through the challenges the users have when they interact with the online services today:

Problem 1: CENTRAL AUTHORITY CONTROLS ALL DATA

An average user today has between 70 to 80 passwords. That is a lot of information to remember. Consequently, services such as Facebook and Google offer us an easy way out by enabling users to login with the same credentials as they use for interacting with them. In return, the services get free user data and behaviour patterns.

Problem 2: NUMEROUS SIGNUPS WITH SAME DATA

Above mentioned is also one of the reasons the businesses today store and manage their users’ private data, even there is no real need to do so. The real issue here is that the personal data of their customer base is stored in one place, leading to possible hacks, data breaches and data misuse.

Problem 3: INCONVENIENCE OF ONLINE FORMS

The fact that each business or a service store and manages users’ data leads to the next inconvenience. That is, the user must repeatedly share the set of his/her personal information to each new service they wish to use. SSI can significantly improve this challenge by reversing the logic. That way, each user allows the companies access to their data in an efficient, verifiable and secure manner.

See the latest information about data breach developmnets at www.informationisbeautiful.net

Are you already curious about what SSI is and how it can improve the way we interact with online services today?

In short, SSI is an electronic ID for natural persons, legal entities and devices that offers them complete control over how others use their data.  In other words, it combines the convenience of Google or Facebook logins with the principles of decentralization. 

However, for this data to be legally recognizable, SSI has to be accepted by a legal entity (e. g. KYC, government, bank), although that is not necessary. Meaning, if the data is not verified, it has the same value as identifying with an e-mail has today. 

What is also important to remember, SSI uses the same protocols (OpenID Connect) that already exist today, meaning that it doesn’t require any significant investment or an infrastructure change.

Best of all, SSI brings tremendous benefits and opportunities: 

– Natural persons and legal entities interact in the digital world with the same freedom and capacities as in the offline world (e. g. signing, authorizing documents, validating signatures, communicating privately etc.)

– Data is stored privately on a user device and not replicated numerous times across the digital world. 

In other words, when a user “shares” data, it shares only the access to his/her data. And, as easy as one can do that, they can also revoke it (unless they are legally bound to share it for a certain period).

How does SSI work in practice?

To explain that, Jan has prepared a quick demo. For a first-time login into a web service, a user gets a QR-code that he/she can scan with an AceID mobile app. Doing so, one can automatically see which data is required (and which is optional) to login into the service. Then, the user authorizes the web service and shares them the information accordingly.  

Watching this, you can be sure that filling a form will never be faster!

SSI is not a distant future. With our business partners, many solutions are being developed as we speak, including: 

E-mobility
First, think about bank cards. One can use any ATM to withdraw money regardless of the card and its issuer. A similar possibility is not very common in the offline world, let alone in the digital one. What effect does this have on the e-mobility? In this area, the charging station manufacturers usually use their protocols, meaning that users have to onboard anew for every new charging station provider. To change that, our business partner Gen-I wishes to introduce a similar principle of universality and interoperability in the field of e-mobility. And, to enable a secure communication and data exchange among different stakeholders, we gave SSI (e-ID) to natural persons, legal persons, charging stations and data replication devices which can now interact in an SSI-way. Even charing stations benefit, as they have a shorter time to market and onboarding of users.

Tourism
SSI identity is also being used in a project Tourism 4.0 where it will ensure that tourists can access to various services and offers through one secure point, and also make a seamless payment. For a comprehensive view of the project, we suggest you to watch the following video.

Where does SSI go from here?

The main idea behind the SSI is that it can be easily integrated with security built-in, enabling various applications in industries and sectors. For that, SSI is already being tested by the world’s largest companies and discussed at the EU level to ensure interoperability and simplify cross-border services.

EBSI and eSSIF initiatives by the EU union for all European eID
We have become expert advisors to the EBSI and eSSIF projects, in which SSI is considered as an ideal solution for the eID. Using SSI, there is no need for numerous user names or passwords, and what is more, it can be integrated easily with the use of the already existing protocols.

A trusted internet
SSI could enable the future in which every web communication is cryptographically signed to verify user identity. 

As you can see, there are countless possible applications and use cases for SSI, from facilitating online payments, to helping businesses personalize services and enable secure communication, all in a way that protects an individual’s data and sovereignty. 

Feel free to contact us for more information at [email protected].

Learn more about us

AceBlock is a blockchain technology framework which enables companies to develop innovative solutions on top of our modular infrastructure. One of its critical ready-made building blocks is AceID, with which any holder can present verifiable credentials everywhere online

AceID is based on a concept of an SSI (Self-Sovereign-Identity) which promotes that digital identity becomes a right for every individual. Because it is portable, it allows online privacy and free movement between different web providers or services from one point, which is possible only when the individual becomes the owner of the data.

Give it a try and contact us at [email protected] for more.

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Aceblock’s proposal SSI-as-a-Service has reached the 2nd stage of the eSSIF Business-oriented Programme​

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September 23,
2020

Aceblock's proposal SSI-as-a-Service has reached the 2nd stage of the eSSIF Business-oriented Programme

The eSSIF-Lab Business-Oriented Programme is an 8-month programme to accelerate SSI-related businesses and social solutions, structured in 3 competitive stages. It includes business and technical support to integrate SSI technology with market propositions and projects, and will be funded up to €106K, depending on the stage each project reaches.

Aceblock was among 21 companies that have qualified to enter the first phase of the competition, in which our task was to define the proposed SSI-as-a-Service solution, its value proposition and targeted time to market. All that, to clarify the status of our product development and the objectives we aim to pursue during the eSSIF-Lab Call.

Now, we are happy to inform you that the jury recognized the market potential of our solution, which enabled us to enter the second phase of the competition, where only 15 projects will continue their battle. This part will focus more on the productization and platform’s technical deliverables, meaning the competing teams will be challenged to further develop their projects through preparation of mock-ups and a prototype that will ultimately lead to a MVP, business plan and customer onboarding.

What is more, the competition puts a lot of emphasis on generating links and business partnerships within the eSSIF-Lab projects and broader, meaning the projects are encouraged to networking and building synergies to enable the growth of SSI ecosystem. 

We look forward to new challenges that will boost the development, integration and adoption of Self-Sovereign Identity technologies, all that leading to SSI can become the choice of the people and businesses!

Learn more about us

AceBlock is a blockchain technology framework which enables companies to develop innovative solutions on top of our modular infrastructure. One of its critical ready-made building blocks is AceID, with which any holder can present verifiable credentials everywhere online

AceID is based on a concept of an SSI (Self-Sovereign-Identity) which promotes that digital identity becomes a right for every individual. Because it is portable, it allows online privacy and free movement between different web providers or services from one point, which is possible only when the individual becomes the owner of the data.

Give it a try and contact us at [email protected] for more.

AceBlock experts participated in UK Government Public Call For Evidence on Digital Identity

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news
September 10,
2020

AceBlock experts participated in UK Government Public Call For Evidence on Digital Identity

In 2019, the UK Government issued a public Call for Evidence on enabling digital identity system fit for the UK’s growing digital economy, in which AceBlock experts too contributed their expertise.

The call was launched as a part of an ongoing consultation process to understand better the potential of digital identity, improve citizen experience and access to services, safeguard privacy and combat fraud in the digital space.

The Call for Evidence received 148 responses, coming from technology, professional services, finance sectors and individuals, including ours. The decision to respond to the call is in line with the fulfiling our company’s mission, explains our CEO Tomislav Mučič: »Secure digital identity infrastructure is an essential yet missing component of all online transactions today. From this point of view, we consider it very important that we can contribute with our expertise and technical know-how and engage in a meaningful conversation with governments and regulators to making the new infrastructure secure, efficient and operational.«

 

The UK Government will use the response to prioritize policy development in the issues raised, including user privacy, complex delivery models, common language, global leadership and right to redress. Drawing on the call for evidence reponses, the Digital Identity Strategy Board has developed principles to frame digital identity delivery and policy in the UK which will be reviewed on annual basis.

***

More information:

https://www.gov.uk/government/consultations/digital-identity/outcome/digital-identity-call-for-evidence-response

Learn more about us

AceBlock is a blockchain technology framework which enables companies to develop innovative solutions on top of our modular infrastructure. One of its critical ready-made building blocks is AceID, with which any holder can present verifiable credentials everywhere online

AceID is based on a concept of an SSI (Self-Sovereign-Identity) which promotes that digital identity becomes a right for every individual. Because it is portable, it allows online privacy and free movement between different web providers or services from one point, which is possible only when the individual becomes the owner of the data.

Give it a try and contact us at [email protected] for more.

The standard of the modern living: the evolution of smart devices and their use in home with blockchain technology

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blog
August 21,
2020

The standard of the modern living: the evolution of smart devices and their use in home with blockchain technology

Not even a decade ago, just like smart devices, smart homes seemed a distant future; today, however, they are actually becoming the technological standard. As customers are becoming increasingly demanding and technologically educated, they are also expecting the adjective “smart” in the technical description of their new devices. Therefore in the battle for competitiveness, manufactures of various household appliances, control systems and robots must increasingly provide this feature. This makes the smart house, and above all the comfort that it provides to the user, an example of modern living. Even more, it is becoming a status symbol. But, what role does blockchain technology play in this?

Smart devices are all those devices that communicate through the Internet. They are connected to each other and also to the Internet of Things (IoT). Today, there are a multitude of smart devices on the market: from various household robots to household machines and control systems. For home use, users connect them to shared networks using tools provided by the biggest online giants such as Google and Amazon that use smart assistants such as Alexa, Siri and Google Assistant to communicate with smart devices.

Even though it may seem that the user is communicating directly with the smart device, this is not (yet) the case. Namely, this communication is carried out in such a way that the user first communicates with the computer server or the cloud server through the application, to which he/she re-enters their username and password each time. This server then communicates on its behalf with the devices in the smart home or apartment.

Likewise, whether or not the user agrees, the server records the relevant information about its use of smart devices. How this kind of data is then stored and processed mainly depends on the ethics of the smart device company. To protect the users from the inappropriate use of their data in the European area introduced GDPR Directive. But this is precisely why server solutions for managing smart devices are also an interesting target for attackers, who can disable thousands of devices around the world in a single attack, thereby gaining terabytes of interesting data to abuse.

Most security and communication issues related to smart devices and systems can be solved by blockchain technology, which is therefore becoming a key competitive advantage for smart device providers. Namely, blockchain technology has some unique features, such as transparency, immutability, increased security, and the ability to isolate intermediaries in processes that can help solve the challenges of the information and communication industry. One of its key benefits is the decentralization of the smart devices network, which in other words means that the devices are not communicating via a server or cloud service, but directly with each other, which reduces the chances of intrusion and thus increases confidence and user satisfaction.

If we introduce blockchain technology to the smart device system and its use in smart homes, the communication between the user and the devices changes significantly in comparison with what we were used to before. Namely, the user and all his devices included in the network are given a unique identity by which they identify themselves. The blockchain network, however, has the role of verifying the identities of users and devices with each other, ensuring that information and instructions are only transmitted to those users and devices authorized to do so.

Similar to our digital identities that we use when we are interacting with different services online, identity on the blockchain network can carry various data and information, and their content is always encrypted. Identities on the network are verified by a system of public and private keys, where the private key represents the digital signature of the individual or an individual device. The essential difference is that the individual no longer accesses the server that communicates with the devices, as the communication between the devices and the individual is done directly through smart contracts; and servers get the role of nodes.

Smart contracts are automated commands written in the programming language on the blockchain network. When the conditions stipulated in the smart contract are fulfilled, the command that the smart contract carries is executed. In our case, this means that the individual and the device identify with each other with their private key, and the smart contract allows them to communicate with each other. When used in a smart home, this comes with a number of benefits: a single application allows the user to control multiple smart devices, and thus remotely control the heating, lighting, opening or closing of shutters, or locking the front door. Such use will only increase further in line with the development of the devices and their integration into the planning processes of the construction of future homes.

What are the benefits of blockchain technology?

From what has been written so far, we can summarize the following:

– Safety: Imagine suddenly being unable to turn off the lights in the middle of the night; or that you can’t start the air conditioner on the heat nor turn on the cooler in the summer heat? Smart devices communicating with the user using blockchain technology are far more secure than if they do so via single-server solutions. When we eliminate central point of communication, it (ie. the central server) is no longer the single vulnerability that hackers often attack to disrupt entire systems which can put the end user in an unenviable and even dangerous position when they can no longer operate the devices in their own home due to an external attack.

– Cost-effectiveness: Smart devices that communicate with each other on the blockchain network save on the cost of setting up and using server services, because we simply don’t need them in this case.

– Privacy and protection of personal information: If communication between devices and individuals takes place on a blockchain, the device provider also cannot arbitrarily dispose of information about how and when the user uses his device, since the data is encrypted and can only be accessed by those who own a private key. This gives the user more privacy; on the other hand, it also offers the ability to make the data available to the provider in return for certain discounts, benefits or improvements.

– Automation of device performance and upgrades: One of the key benefits of blockchain is that it is not necessary to upgrade applications with new generations of devices, as the identified devices find their new features on the network. Device manufacturers also have the ability to monitor the condition of devices remotely, identify errors more quickly and provide repair. Also, communication between the devices and the user takes place smoothly and continuously 24 hours a day, 7 days a week.

Device management through the blockchain network is thus becoming a reality in our country and in Europe as well. In Slovenia, we offer blockchain technology for business purposes at Netis, where we are developing AceBlock – an infrastructure that enables companies to subsequently develop various blockchain-based services. In addition to establishing a blockchain network, AceBlock also enables them to quickly establish identities on the blockchain and connect them to AceSpace’s distributed data storage service through the AceID solution.

This option is primarily for those companies that still want to securely store data on users and smart devices and develop additional services based on this. Namely, storing data in a distributed repository enables them to set up various innovative business systems or platforms with the potential to reward users in exchange for using their data. In this way, smart device providers can increase user satisfaction and restore their confidence by collecting personal information in a transparent, encrypted and also anonymous manner.

In the future, we can certainly expect smart devices and smart device networks to work with blockchain technology in our homes. Today, however, we are still in the phase of implementing pilot projects with providers of such devices who have decided to gain primacy in this field. Their courage and daring vision of the future will definitely pay off as successfully carried out pilot projects will become the basis for commercially accepted solutions that will undoubtedly be our new standard of living.

***

The article was first published in a professional magazine for architecture, construction, interior and design PRO Bauhaus.

Learn more about us

AceBlock is a blockchain technology framework which enables companies to develop innovative solutions on top of our modular infrastructure. One of its critical ready-made building blocks is AceID, with which any holder can present verifiable credentials everywhere online.

AceID is based on a concept of an SSI (Self-Sovereign-Identity) which promotes that digital identity becomes a right for every individual. Because it is portable, it allows online privacy and free movement between different web providers or services from one point, which is possible only when the individual becomes the owner of the data.

Give it a try and contact us at [email protected] for more.

Twitter got hacked. Could SSI prevent it?

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blog
July 25,
2020

Twitter got hacked. Could SSI prevent it?


Cybercrime is on the rise. This time, the hackers got access to internal tools of Twitter and compromised high-profile and corporate Twitter accounts. Twitter reported that the attackers targeted 130 accounts, including those of Joe Biden, Elon Musk, Bill Gates, Barack Obama and accounts of Uber and Apple (see Financial Times, BBC and CNBC).

 

Twitter has shed some light on the attack by tweeting that hackers compromised their internal systems. The hack has revealed that one can tweet on behalf of another individual without even knowing their password. Why is this so alarming? The ability to control accounts and publish content on behalf of another individual can have severe consequences, and a similar attack could happen to any social media or online blog/news service.

In the diagram below, we demonstrate how Mallory (hacker) tweeted from Alice’s account and thus tricked Bob into sending him a Bitcoin: 

Could we prevent this?

Yes, if Alice had the possibility to digitally sign her tweets, and thus protect the integrity of her content. This way, even if Bob would receive a malicious tweet, he could quickly verify that the tweet is not signed by Alice and would have never sent that 1 BTC to Mallory.

Self-sovereign identity (SSI) is a perfect fit for solving this issue, as the solution enables users to fully control their electronic identity, request/exchange verifiable credentials, sign electronic documents, authenticate, etc.

Let us show you how SSI could help out Twitter:

A Twitter Mobile App featuring SSI would require all users of this social network (Alice, Bob and even Mallory) to create self-sovereign identities, register them in one of the publicly-available SSI registries (DID registry) and then link their SSIs with Twitter accounts.

In this case, Alice would have her private key stored securely on her device, so she could use it every time she wanted to sign her Tweets before publishing them on Twitter. Bob’s Twitter App with built-in SSI support would then verify the signature and confirm that the Tweet really comes from Alice. If the hacker Mallory wanted to scam Bob by sending a Tweet from Alice’s account using Tweeter’s internal tool, she wouldn’t be successful! She could still send him the Tweet, but Bob’s SSI App would spot right-away that the Tweet is either unsigned or worse, not signed by Alice. Thus Bob would have never given away that 1 BTC to Mallory.

We believe that the implementation of emerging technologies and concepts like SSI can help build and use better and safer digital ecosystems, offering us higher levels of trust, transparency, security and interoperability.

Let’s see if we will build the Twitter of tomorrow together, to make sure this never happens again:

Learn more about us

AceBlock is a blockchain technology framework which enables companies to develop innovative solutions on top of our modular infrastructure. One of its critical ready-made building blocks is AceID, with which any holder can present verifiable credentials everywhere online.

AceID is based on a concept of an SSI (Self-Sovereign-Identity) which promotes that digital identity becomes a right for every individual. Because it is portable, it allows online privacy and free movement between different web providers or services from one point, which is possible only when the individual becomes the owner of the data.

Give it a try and contact us at [email protected] for more.

AceBlock Team Among 21 Selected Companies in the ESSIF-LAB Funding

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July 2,
2020

AceBlock Team Among 21 Selected Companies in the ESSIF-LAB Funding

We are happy to announce that our proposal “SSI-as-a-Service” has been selected to join the First Business-oriented Programme of eSSIF-Lab. In the first phase, comprised of a hackathon and mentorship programme, we will work to elaborate our existing AceID solution further and compete with 20 other SSI-oriented businesses to win the first round of funding and thus qualify for next phase of the competition.

The eSSIF-Lab is an EU-supported project which aims at advancing the broad uptake of Self-Sovereign Identities (SSI) as next-generation, open and trusted digital identity solution for faster and safer electronic transactions via the Internet and in real life. It was funded by the European Commission as part of the Horizon 2020 Research and Innovation Programme and is framed under Next-Generation Internet Initiative.

eSSIF-Lab is building SSI jointly with SSI ecosystem by using a cascade funding approach, meaning the framework will be built upon extensions that will be selected through the following open-calls:

• one (1) infrastructure-oriented open call targeting (20) open-source technical enhancements and extensions of their SSI framework and
• two (2) business-oriented open-calls targeting (42) commercial competitive SSI components and services.

Currently, only the participants for the first business-oriented call have been selected and announced, meaning elsewhere applications are still open or in the process of evaluation.

Below you can see proposal distributions by countries: the call has received 54 proposals from 21 countries; however 161 in total started from 24 different countries. 

We have convinced the evaluators with the proposition “SSI-as-a-service” and successfully qualified for the first part of the competition. As mentioned, the programme will follow a competitive (funnel) approach. This is, only the best participants in each stage will go on for the next one:

Stage 1: Hackathon & Proof of Concept
Duration: 1 month | Funding: up to 15.000 EUR
21 companies, including ours, have been invited to join an intensive Hackathon Event which will end with a matching of the team with a technical mentor and a business mentor. As result, a Proof of Concept and Business Roadmap will be defined, as well as an Individual Mentoring Plan.

Stage 2: Full Functionality
Duration: 5 months | Funding: up to 50.000 EUR
15 best companies of the ones in the previous stage will focus on developing a mock-up and a Prototype.

Stage 3: Customer / Use-case integration
Duration: 2 months | Funding: up to 41.000 EUR
Only the 5 best-in-class teams will reach this stage and focus on testing the MVPs with first early adopters and defining Business models and Exploitation Plan.

Learn more about us

AceBlock is a blockchain technology framework which enables companies to develop innovative solutions on top of our modular infrastructure. One of its critical ready-made building blocks is AceID, with which any holder can present verifiable credentials everywhere online

AceID is based on a concept of an SSI (Self-Sovereign-Identity) which promotes that digital identity becomes a right for every individual. Because it is portable, it allows online privacy and free movement between different web providers or services from one point, which is possible only when the individual becomes the owner of the data.

Give it a try and contact us at [email protected] for more.

Deloitte’s 2020 Global Blockchain Survey: From an experimental technology to a real strategic priority

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July 2,
2020

Deloitte's 2020 Global Blockchain Survey: From an experimental technology to a real strategic priority

In its third year, Deloitte’s Global Blockchain Survey reveals a compelling evolution of blockchain from an experimental, disruptive technology to a real strategic priority for organizations, meaning that blockchain is solidly entrenched in the strategic thinking of organizations across industries, sectors and applications.

Survey finds that leaders no longer consider the technology ground-breaking and merely promising – they now see it as integral to organizational innovation. Consequently, this indicated increased sentiment, investments, and more strategic talent sourcing and requirements for blockchain initiatives. For the first time, the survey digs into the role and evolution of digital assets. As with any business solution, there are still real-world challenges to overcome. Still in 2020, both bold and modest in-production proof points across a wide variety of implementation scenarios demonstrate that blockchain technology works – and can work – for many different organizations, businesses and industries.

Methodology: The survey polled a sample of nearly 1,500 senior executives and practitioners in 14 countries (Brazil, Canada, Germany, Hong Kong, Ireland, Israel, Mexico, Singapore, South Africa, Switzerland, the United Arab Emirates, the United Kingdom, and the United States) between February 6 and March 3, 2020.

The full report is available here.

Among the key survey findings:

• 39% of global respondents have already incorporated blockchain into production. This is a significant increase from 23% of respondents signalling production last year.
• 55% of responding organizations view blockchain as a top strategic priority, an increase from 53% in 2019 and 43% in 2018.
• Nearly 89% of those surveyed believe that digital assets will be “very” or “somewhat” important to their industries in the next three years.
• 82% percent of respondents said that they are hiring staff with blockchain expertise or plan to do so within the next 12 months, compared to 73% last year.
• 83% of respondents indicated their companies will lose competitive advantage if they don’t adopt blockchain (versus 77% in 2019).
• 70% call the pace of regulatory change for blockchain and digital asset solutions as “very” or “somewhat” fast.

 Increased advances of large-scale blockchain initiatives are occurring including blockchain-based financial infrastructure to simplify global money movement and commerce, as well as distributed ledger technology for trade finance and blockchain-enabled track-and-trace platforms, among others.

The survey report also revealed increased blockchain initiatives in daily processes including title transfer and protection, patient data storage and retrieval, and more efficient voting or food sourcing tracking.

Digital Assets Today & Tomorrow

A “digital asset” is defined as something represented in a digital form that has an intrinsic or acquired value. Aside from cryptocurrencies, examples may include everything from digital representations of land, commodities or fiat currency to tokenized debt or equity to a financial instrument, and beyond.

Digital assets therefore offer their users many benefits, which is why its no surprise that the survey respondents view them favorably with 89% saying they believe digital assets will be very or somewhat important to their industries in the next three years and will serve as an alternative to, or outright replacement for, fiat currency in the next five to 10 years. However, the survey shows no clear or specific consensus about exactly how those assets will be used or the specific role they will play.

What is more, we are witnessing new and significant changes across all facets of society with AI now being a leading contributor to that change. Businesses, and eventually customers and end-users need to learn to adapt to the latest technologies and solve the other issues that accompany assimilation of change. In other words: digital assets may be the future, however there remains an important, immediate need for organizations to become more comfortable with them, especially in terms of barriers to adoption and regulatory hurdles.

Cybersecurity

Judging by the answers about cybersecurity and overall blockchain or digital assets-related strategy, organizations might be concerned about the cybersecurity but may not fully recognize the importance of preparedness measures they should take to alleviate cyber threats. There is growing concern – not only about how to best protect valuable financial, health and other systems from being attack but also who owns and is, ultimately responsible for the information being sought. Despite blockchains inherently cryptographic character that offers high level of assurance that the foundational platform is safe from the attack and its distributed nature which suggests the expected degree of transparency, doubts still exits and organizations efforts to solve these issues remains a work in progress, meaning cybersecurity remains a problem in search of a viable solution at the moment.

Global digital identity

In many ways, global digital identity is still based on theory and likely not ready for full-scale implementation. Still, new insights into how it might potentially affect different market offerings and blockchain protocols are emerging and progress continues, as does the belief that it will be instrumental in fostering global transactions, delineating personal data ownership, streamlining regulatory requirements across jurisdictions (KYC/AML, anti-terrorist, illegal acts, related parties, etc.) and one worth pursuing. Nearly two-thirds of respondents said that a global digital identity will be very important, and having its greatest impact in global financial transactions (29%) and data privacy/ownership (27%). Eventually, this would also lead to other areas, however until the general population develops a greater understanding and acceptance of digital identity, the full benefits will likely remain untapped.

Regulatory considerations

Survey data suggests that respondents are generally confident in their ability to meet blockchain-related regulatory requirements in areas that include tax, financial reporting, industry-specific regulations, and securities laws. Even so, different governments adopt distinctly different positions on blockchain and digital assets, creating further complexity within a blockchain architecture. An absence of regulatory harmony in a blockchain and digital assets construct offers management, regulators, standard-setters, and professional service providers the chance to work together in forging common guidance and establishment of best practices. The survey therefore indicates that organizations will need to keep up and shows that 70% of survey respondents calling the pace of regulatory change very or somewhat fast.

Governance in blockchain consortia

In 2019, the Deloitte survey showed that business leaders fundamentally understand that joining a consortium could help them succeed, however they were concerned with issues related to the concept of coopetition and working toward a common goal with other organizations with which they traditionally compete. This year, this is becoming less of a roadblock with conversations evolving around how consortia are run, how decisions are made and how profits are shared across the members. This is why organizations are placing an increasing emphasis on performing due diligence and addressing key governance-related concerns before agreeing to participate in a consortium.

The Rise of Online Shopping: What About the Rise of Privacy Issues?

Posted on by adminuser

blog
May 27,
2020

The Rise of Online Shopping: What About the Rise of Privacy Issues?

When cities, municipalities and states declared quarantine, only the grocery shops were left open. Luckily today, we can find almost everything online! As a consequence, lockdown pushed much more people towards online shopping, resulting in e-commerce in full swing all around the globe. However, the rapid digitalisation of services is raising many questions connected with internet privacy and security of customers who leave more information about themselves online day after day.

Online shopping records unprecedented growth. What will become the “new ordinary”?

According to CCinsight March and April of 2020 have been one the most impressive months for e-commerce so far, with the growth of year-over-year e-commerce hitting at the 70-100% rate. Previously, this kind of increase occurred only during the holiday season.

Stay-at-home orders caused a massive increase in online shopping activities, but now we are slowly returning back to normal. What will that mean for our shopping habits? According to Forbes, it is very likely that online grocery, apparel, and entertainment shopping will replace store and mall visits permanently, or at least until a vaccine is available. The curve of e-commerce activities will probably flatten during the time when the pandemic will be revoked and certain measures won’t be in place anymore, but the new habits are probably here to stay, especially because more and more brands now heavily prioritize e-commerce.

Do consumers care about their data online?

In general, consumers care about their privacy online, however only seldom are informed about data management, and there are even fewer who take actions to protect their data. For example, 2019 Tealium Consumer Data Privacy Report surveyed 1,000 consumers in the USA about their relationships with brands and personal data privacy. They discovered that almost all (97%) consumers are somewhat or very concerned about protecting their data. Still, most consumers (62%) generally don’t read online terms or privacy policies, and nearly 70% of respondents had not heard of GDPR (General Data Protection Regulation) or CCPA (California Consumer Privacy Act). 

Similar data also apply to the European Union, where GDPR was enacted on the 25th of May 2018. Various surveys conducted in 2019 show that 67% of Europeans have heard of the GDPR, and 57% of Europeans know that there is a public authority in their country responsible for protecting their rights about personal data. Good news is that individuals are lately increasingly contacting data protection authorities about GDPR and lodge complaints about the respect of their rights. Despite the better awareness, the total number of queries and complaints from all data protection authorities remains rather small, comprising 144,376 cases from May 2018 through 2019 altogether.

All in all, the situation in the USA and the European Union is not that different as even though people are aware that their data privacy is essential, they don’t do much to preserve it in practice. This fact has probably not changed during the occurrence of covid19, however, it will be interesting to monitor the newest data for 2020.


Is e-commerce secure and what can be done to improve it?

If we take into the consideration that databases are vulnerable and often attacked by hackers,  the consumers should be proactive in demanding the protection of their data and privacy. One of the possible solutions to achieve that is certainly through a secure digital identity. 

For that, we at Netis, have developed Self-Sovereign Identity backed with blockchain technology, that ensures the following:

SECURTIY
AceId is a secure authentication protocol that combines the following concepts: self-sovereign identity (SSI), data access management controlled and recorded via blockchain, end-to-end encryption and verification. These elements guarantee each user has complete control over who they share their data with, and for how long.

GDPR COMPLIANCE
Since the blockchain is generally public, anyone can get information about the existence of the link. However, it is impossible to see what kind of data is stored on a given address. The data can be seen and read-only with a user’s private key used for their decryption.


DATA OWNERSHIP
Users’ data is stored locally on one’s device, and remotely on the AceSpace storage, where all the content is encrypted, making sure no one can read or change them.




How can e-commerce handle customers’ data in a secure, private and user-friendly manner?

As many businesses, online stores are also aware of the importance of the data they receive from customers, so the idea of allowing users to own and share personal data themselves is rather new to them. But, as we have written and pointed out many times before, it is precisely putting customers first that will play a key role in the near future. It is true that with secure digital identity the process of retrieving user data changes, but at the same time it enables businesses to build credibility and trust by promoting secure online practices. That way, you will also easily get additional data that can help you with segmentation, as customers will trust you more and will know for sure that their data is secure, anonymized and encrypted. What is more, you will be able to easily reward their loyalty with discounts, prizes or other benefits, without invading privacy. This is one excellent example of how the use of blockchain SSI initiates the development of different business models that will upgrade your service and attract more potential customers.

How does it work?

User onboarding is simple; first-time users need only to input their information into the application. After that, the process of filling the form is no longer required and that saves time and effort. When the user wants to log in to an online store, he or she simply scans a QR code which displays on the website. After the scanning, the user decides which piece of information one wants to share with a particular service.  After that, the user confirms the choice by pressing “Authorise” and with that action logs to a specific online shop or any other service. Using AceID certainly gives your business numerous benefits and can make users’ online shopping experience safer, fairer and simpler. Give it a try and contact us at [email protected] for more.

Digital identity: Why is it becoming a necessity and what kind of services will it enable?

Posted on by adminuser

News
May 8,
2020

Digital identity: Why is it becoming a necessity and what kind of services will it enable?


In just a few weeks, COVID-19 showed us where we all lack digitized services and what we can do to make them more widespread, secure, efficient and user-friendly.

When users introduce themselves to businesses online, they most often do so with a combination of a username and password that becomes their identifier. It works in the same way as if you had written your information to a directory. Each organization establishes its own directory that represents their customer base and over which they have overall control.

This is also the reason why users need to register for each new service; with each of the next steps requiring them to disclose more to the business. In doing so, the latter gradually gain insight into their lifestyle and purchasing habits, whereas the rapid technological development and globalization allow them to thoroughly analyse them through their age, gender, location, interests etc.  This kind of segmentation is also a prerequisite for businesses to be able to reach their customers with more personalized messages and offers.

Do passwords and usernames guarantee us security?

Entering the same personal information at each new registration soon becomes tiring for users. An even bigger problem is the security of such information, as the combination of username and password should not be duplicated or stored on computers with Internet access, which in practice means that users have dozens of combinations at the same time, which they tend to quickly forget.

Some digital services therefore offer users the option of logging in with the same identifier, or in other words a combination of a username and password that they otherwise use to access the most popular platforms, such as Facebook, Twitter or Google. This seems like an ideal and easy solution, but it’s important to note that this provider an access to the personal information that these platforms have.

In many countries, some services, especially those of a more sensitive nature (e-taxes, e-education, online banking, etc.), are also accessible with the help of personal digital certificates, certificates or through a dedicated application. From a security point of view, such solutions are actually safer, but far more expensive for providers. The user experience also suffers, as installing them is usually more complicated and limited to just some personal devices, and it also increases the number of steps required for a particular task through validation and codes via sms or email.

Who am I when I am online?

“The common denominator of digital services today, therefore, is that they are all “rental relationships” where users are dependent on the conditions set by providers; and in doing so, they often unaware give away valuable personal information,” explains Tomislav Mučič, CEO of Netis, where under the AceBlock brand they develop innovative solutions for secure online communication and personal data management based on blockchain technology. “Digital identity of a user, alone and outside of a particular web service, does not exist at all, since it is merely a collection of different information held by companies about it.”

As Mučič continues, the problem arises because many of our personal information is available to different providers on the web, but users don’t have any control over them. “This poses a major security risk, as hacking into a central system can instantly hurt thousands, even millions, of individuals who have trusted the company.” Remember the high-profile scandals, including Cambridge Analytics, the Marriott chain of hotels, or Capital One, and the whole list is, of course, much longer.

Such cases also occur in Slovenia, when for example medical records of patients of a certain hospital appeared online. “Therefore, today’s way is neither “practical” nor sustainable.” From the provider’s point of view, this means that they must retain and manage an extremely large amount of personal data, which is expensive; and at the same time, they must check the data of the individuals repeatedly with an external service which can ensure that the data is authentic. This usually means that processes are complicated and time-consuming for the user.

Digital identity: Not an added value, but a necessity for more efficient digital services

We live in a time when the term identity is becoming extremely broad. In the real world, we express it in physical form and with certain ubiquitous statements, such as a passport, ID or driver’s license. But we are also entering relationships on the Internet where we need confirmation of who we are, except that we do not yet have a proper equivalent here.

According to Mučič, the crucial transition that we urgently need and which will enable a significantly greater number of efficient, secure and trusted digital services is the appropriate digital identity (SSI – Self-Sovereign Identity). SSI is based on the concept that digital identity becomes a right for every individual. Because it is portable, it allows one online privacy and free movement between different web providers or services from one point. In his view, this is possible only in the way that the individual becomes the owner of the data and autonomously decides which provider or for what purposes and for how long he will share his data with.

SSI-based solutions are also being addressed by giants such as Microsoft and IBM; and many legal bodies which are involved in the standardization of digital identity at EU and national level. “Initiatives are growing in all corners of the globe to equate digital identity with physical identity, thereby simplifying and securing procedures for logging into online systems,” says Mučič, and continues that a safe, verifiable and thus trustworthy entry point is essential, because in addition to being used for commercial purposes, it can also build the necessary infrastructure for digitizing public services, health and education, “which is of particular importance in this moment of time, when our habits are radically changing. “

Collect once, use repeatedly

By keeping all personal information in one place, digital identity eliminates the efforts to collect personal information that has already been collected elsewhere. Of course, this begs the question: Is the solution which is proposing data is no longer owned by an organization profitable at all? “The answer is an absolute yes,” says Mučič who is convinced that the solution is extremely interesting for companies that are today legally responsible for personal data. “By establishing a kind of independent identity system that can be trusted by everyone – companies, organizations, governments and public institutions -companies can actually increase their operational capacity without having to manage the data.”

Therefore, even in the case of SSIs, companies can still access all the data they need for segmentation, however in this case the data is made available to the users themselves. Mučič is also certain that SSI will in the future stimulate the development of many innovative business models, since companies will be able to offer some benefit or added value (such as a lower bill, coupon, discount) to an individual in return for analyzing their data, thereby building loyalty, with less effort required to give the user a more targeted and personalized offer.

The first pilot projects are already underway

“SSI is still a concept in these moments that cannot be realized without practical application. In addition to standardization at the global level, we also need a large enough pool of companies and services that can be managed in this way, “adds Mučič. At his company Netis SSI solutions based on blockchain technology are already being developed through pilot projects with business partners from the energy and healthcare sectors; but as he puts it, they can be applied to a number of others: “A secure identity is a prerequisite for a world where we also need to be digitally connected if we are to survive. In my opinion, straightforward networking between companies, especially from different industries, will be crucial now and after covid-19 crisis.” With one identity – which is technologically backed by different safeguards than existing ones – several complementary services can also be integrated into the joint offering. For example, in the case of tourism, these could mean a union of caterers, accommodation providers, recreational activities, tour guides and local festivals. The user would receive offers, benefits, coupons and tips from all of the above, and make payments through a single, completely secure mobile app, depending on their preferences and location. “This would offer him a unique, personalized experience and an exceptional user experience and make him use the service longer,” Mučič further explains.

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The article was originally published in Slovene newspaper Finance in a segment IKT Informator and is available here.