On Thursday 5th of July a 120-people-strong team from everis UK ran the 5.6km in the JP Morgan Corporate Challenge in London’s beautiful Battersea Park.
This was the 4th year we took part and the team continues to grow every year. You can imagine that this yearly race creates some good friendly competition amongst our team.
The results are in and can be found on our specially created website (developed by our Banking and Technology departments). They are already being scrutinised by those competitive spirits in the office: “You beat me, you must have tampered the result!”
Actually, no. Thanks to Distributed Ledger Technology - using R3’s Corda platform – the everis Technology team has implemented a solution where these results are safely stored in a non-centralised and cryptographically-backed way that prevents them from being forged. So… “Try to beat me again next year!”
On the website our everis runners can download their ‘Finisher’ certificate and plaster it around the office to show off their results. To demonstrate an extra layer of validation within Distributed Ledger Technology, every downloaded certificate generates a cryptographic hash. This hash can be used to prove the certificate’s originality. Perhaps not entirely necessary for what is predominantly a social occasion, but it certainly demonstrates the immutability aspect Distributed Ledger Technology-stored data has and how useful it can be for solving enterprise-grade problems our clients might have.
An innovative use of Distributed Ledger Technology applied to one of our favourite events of the year. The scope and application of Distributed Ledger Technology is limitless!
Distributed Ledger Technology: a consensus of replicated, shared and synchronised digital data geographically spread across multiple sites, countries or institutions. There is no centralised data storage. One form of distributed ledger is the Blockchain system.
A cryptographic hash is a mathematical algorithm that maps data of arbitrary size to a bit string of a fixed size (a hash). This is a one-way function that is impossible to invert. A small change to data will change the hash extensively. The same hash will always relate to the same data.