ZUG, SWITZERLAND – 22 July, 2021 – nChain AG (“nChain” or “the Company”) today announced the launch of Kensei, a blockchain platform that can seamlessly integrate into a customer’s existing business and data management processes. Kensei provides enterprises access to the benefits of tamper-proof documents and easily auditable logs—core attributes of the blockchain—without having to undertake complex blockchain development or build an in-house team of experts. The initial targeted use cases respond to market demand and will be supported with additional functionality to expose the full disruptive potential of Kensei so that customers can have complete confidence in the data they capture, store, and rely upon.
Kensei is the culmination of over five years of research and development, and benefits from the custom solutions that nChain continues to develop for a range of clients. In providing an easy-to-use platform, nChain aims to accelerate the adoption of blockchain technology as critical infrastructure and meet enterprise data integrity needs.
nChain CEO David Washburn said, “Kensei presents a major milestone in bringing data integrity and the benefits of the blockchain to enterprise. Businesses and governments risk wasting vast resources capturing, maintaining, verifying, and auditing the data they rely on, which ultimately can still be corrupted. With Kensei, we have simplified the implementation process, and our APIs provide an efficient way for organisations to ensure the integrity of their data, allowing them to focus on their core business and how they create value.”
SIMPLE OFFERING, POWERFUL FUNCTIONALITY
Since 2015, nChain has focused on developing solutions and inventions that target enterprise use of the blockchain and meet the data management needs of businesses and governments. Serving their needs, nChain is launching an offering that addresses the major challenge of verifying that data has not been altered.
Kensei is being launched with an initial focus on functionality related to audit and accountability. In particular, Kensei allows customers to easily verify the status of a single document or record, or of an ordered series of records where both their content and the relationship between them are important.
Enterprise clients can be assured that confidential information is not publicly exposed. Data that is processed through Kensei is stored using double hashing, which ensures sensitive information remains private, while maintaining the robustness of it and making changes easily detectable. Rather than arbitrarily fishing for misconduct, checks can now be carried out on an informed and automated basis, responding to alerts.
In addition, Kensei eliminates the need for enterprises to manage keys and addresses. The platform integrates key management into the application programming interfaces (APIs), so that customers can focus on collecting and analysing data.
nChain has a robust pipeline of additional functionalities that will be added to Kensei, which the Company expects to begin rolling out by the end of 2021.
Kensei utilises the Bitcoin SV (“BSV”) blockchain, taking advantage of several key characteristics, most notably larger block sizes, which allows more transactions, or referenced data, to be included in each block that is added to the chain. Larger block sizes support greater resource efficiency, as the energy associated with creating a block can be leveraged across a larger number of transactions, thus reducing the average cost and energy required per transaction.
SERVICE LEVELS AND AVAILABILITY
At launch, Kensei is made available at two service levels, Core Data Management and Advanced Data Management:
- Core Data Management bypasses human third-party facilitators, prevalent in processes such as notarisation, which will reduce reliance on costly manual processes and make undetected editing of data unfeasible. Kensei allows businesses to streamline the entire process of carrying out instantaneous verification and certification of documents or pieces of data, safe in the knowledge that every step features a transparent and immutable audit trail.
- Advanced Data Management extends the applicability of Core Data Management by adding to the functionality of reading and writing unique, indelible document identifiers to and from the blockchain, the ability to read and write links between sequential identifiers, allowing related documents to be verified and certified simultaneously or in sequence. Advanced Data Management extends the benefits of tamper-proof notarisation capabilities to enable enhanced fraud detection.
Kensei is available now. More information, including how to book a consultation, is available at kenseiplatform.com.
ANNOUNCEMENT OF FIRST KENSEI CUSTOMER
Upon announcing Kensei, 360kompany AG (“kompany”), an international leader in global business verification, has engaged the platform. Co-founder and CTO of kompany, Peter Bainbridge-Clayton, said, “Kensei seamlessly integrates into our offering to provide additional certainty for our clients’ business verification needs. This combination efficiently provides absolute, tamper-proof confidence, ultimately minimising compliance costs and regulatory risk for our customers.”
Founded in 2015, nChain advances the potential of blockchain technology through ongoing research and development of inventions, including the maintenance of a robust patent portfolio, and by offering commercial solutions such as Kensei, a developer-friendly set of APIs built on the BSV blockchain. nChain also offers solutions in the digital payment space, along with professional services that assist enterprises of all types to benefit from blockchain technology.
Director of Marketing & Communications