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DUCATUR – First MultiChain Oracles Framework

The advent of Blockchain technology has started a revolution in the way that businesses can transact with one another in a trusted fashion that can easily be verified.

Drawing parallels with the way in which the Internet revolutionized the way businesses communicated and transacted with one another, the Blockchain and Smartcontracts will once again change the Business landscape, adding the badly needed element of trust and tamper-proof verification in an easily automated way. Increasingly, just as with the Internet, businesses that integrate with the blockchain will find themselves being able to cut their payment costs, legal fees and speed up their verification processes. Businesses that don’t will find themselves losing out to speedier, nimbler and more cost effective competitors. For example, in the financial markets, trades happen in a fraction of a second. In reality, exchanging the assets and payments can take days, involving multiple banks and clearinghouses. That can lead to errors, delays, added costs and unnecessary risks.

The problem that businesses face is how to integrate their existing data with the blockchain.

Decentralized applications need an interface to communicate with real world data.

The reason for this is that there is a fundamental difference of formats. Blockchain is deterministic, meaning that it reflects a specific series of events which take place one after another in sequential order – series of transactions. Accessing information outside of the chain would require data points that are not sequential and would therefore be impossible for Blockchain to use or make sense of. This aspect of Blockchain gives it immutability but reduces flexibility.

The off-chain world, however, is non-deterministic, meaning that there is no recording of the events in the specific sequence that they have taken place, which creates problems with transparency. Data points can be generated from and understood at any point, providing increased flexibility, but have difficulty in communicating with the Blockchain.

Coupled to this, with the advent of Blockchain and smart contracts we find the growing need for the ability for smart contracts to access data as without it smart contracts cannot function. Thus, we find that Smart contracts are realizing only a tiny fraction of their potential.

With the help of Oracles, smart contracts have real world applications in virtually every field available. Once data hits the Blockchain, the information can be used to execute the contracts and provide use cases, which can disrupt industries across the board. As an example Blockchains could help reduce the gap of the entire lifecycle of a trade from days to minutes, even to zero. According to a report by Santander InnoVentures, the Spanish bank’s fintech investment fund, by 2022 ledger technologies could save banks $15–20 billion a year by reducing regulatory, settlement and cross-border costs.

DUCATUR is the first MultiChain Oracles Framework that is a ready-made, selfsufficient multi-chain ecosystem that unites data sources based on rating and provides tools for high quality data exchange as well as dispute resolution.

DUCATUR offers a unique solution in that it supports a multichain Oracles network that uses the three most rapidly growing blockchains – Ether, NEO and EOS.

We are opening the door to allowing Businesses to get onto the blockchain ecosystem. DUCATUR offers a framework and the tools necessary to facilitate an easier transition to the Blockchain.

This demand for blockchain solutions will drive DUCATUR’s success into the future. Our vision is for DUCATUR to become the defacto standard framework for MultiChain Oracles spanning a variety of industries including but not limited to Finance, pharmaceutical, transportation, ticketing, real estate, manufacturing and the Supply Chain involving markets worth hundreds of trillions of dollars.

Team

George Bell

CEO

Ivan Kocheshev

CTO

Francis Leitao

CDO

Suvi Rinkinen

Brand Manager

DUCATUR Advisors

Marek Lorinc

Wouter Van Domselaar

Pieter Plaizier

Utpal Nath

Milestones