BigchainDB is a scalable blockchain database with the advantages of a distributed database and the benefits of blockchain characteristics such as immutability, decentralized control and the ability to transfer assets over a network. BigchainDB allows companies to deploy blockchain enabled applications that scale with data that is queryable.
Ian Worrall, CEO of Encrypted Labs, commented on the deal:
“We always encounter the same issues of limited scalability, functionality, or security concerns with current blockchain technologies. Most often, one is sacrificed to strengthen another but we never accepted that as good enough for widespread enterprise adoption. ascribe took a different approach when building BigchainDB and addressed all of our concerns with a true enterprise level blockchain database. This is the real deal. We can now truly expand our offerings with this new partnership.”
Through the partnership, Encrypted Labs will focus on business to business sales, marketing, consulting and integrations for clients and deploy BigchainDB.
Encrypted Lab’s solution is to bridge the gap between existing systems and the backend blockchain network by designing custom user interfaces on a client to client basis that look and function nearly identically to current systems. This permits companies to integrate blockchain security and efficiency solutions without having to undertake the cost to reeducate employees or disrupt business operations.
Bruce Pon, CEO of BigchainDB, noted:
“By getting trained up in the BigchainDB toolsets, Encrypted Labs will be able to access the latest developments and blockchain technologies. It’s a win win as we will now have a trusted partner to field inquiries and service customers while Encrypted Labs will strengthen its offerings of blockchain technology by officially being able to offer BigchainDB to all their customers.”
Founded in early 2015, Encrypted Labs is led by Ian Worrall, Quincy Ruckert and Bill Genovese. Ascribe unveiled its development of BigchainDB earlier this year, and has formed partnerships with Eris Industries and Tangent90.
More use cases of BigchainDB are apparently being explored across multiple industries outside of financial technology including supply chain, internal operations management, healthcare and loT.