Dhiway announces general availability of the CORD blockchain
Layer 1 blockchain project developed by the company for building digital public utilities.
The CORD blockchain project from Dhiway combines distributed ledger technology with the themes of privacy, trust frameworks, governance, unique persistent data identifiers, and information management protocols using cryptographic superpowers.
Bengaluru: Dhiway, a Bengaluru-based blockchain startup, announced the availability of CORD, a Layer 1 blockchain project developed by the company for building digital public utilities. Built with a focus on easy integration of existing applications or development of new applications, CORD includes developer documentation, SDKs and reference implementations to encourage adoption in use cases which assign priority to user-authorized data mobility, data privacy and security.
CORD is a Layer 1 blockchain project designed from scratch to simplify information management, making it easier for owners to control agencies and businesses to discover, access and use data to deliver networked public services. It provides a transparent history of information and protects it from unauthorized tampering from within or without the system.
The technological innovations of CORD allow the creation of unique persistent on-chain identifiers representing off-chain data, mutable data, and immutable states.
Additionally, features such as verifiable attributes, auditable history, and consent are pivotal to elevating the level of trust in the information exchanged over the internet. This unique structure – a comprehensive stack with tiered technical and governance levels – can serve multiple classes of applications for any form of registries and transaction platforms.
CORD, an open-source project with an OSI-approved license, is purpose-built to support population-scale initiatives like the UN Sustainable Development Goals (SDGs). This “made in India for the world” blockchain is purpose-built to support the needs of various population-scale goals and targets, such as financial and economic inclusion, social protection, healthcare, education, agriculture, governance, migration and registry management.
“CORD creates new possibilities for addressing trust gaps, managing the authenticity of transactions, and exchanging value at scale. The ground-up design offers a reliable, secure, and extensible foundation for building a range of applications which offer the best of Web3.0 characteristics “, said Satish Mohan, Co-Founder and CTO at Dhiway. “We see CORD as an essential building block of digital public infrastructures across use cases which require disintermediation, unbundling and consistent re-use of verifiable information and management of risks around authenticity, confidentiality and privacy of data.”
Dhiway is currently working with various organizations and innovation partners to launch utility networks that will serve their interests and customer needs using CORD. The reliance on outdated, silo-based information models with high maintenance costs will gradually diminish.
Earlier this week, the company raised $1 million in a pre-seed funding round from Cornerstone Venture Partners Fund and SUNiCON Ventures.
A Bengaluru-headquartered startup, Dhiway, was incorporated in 2019 and is India’s first Verifiable Data Exchange Platform. Founded by technologists with extensive experience building open-source projects that scale, Dhiway is committed to working with open standards to drive innovation. Dhiway builds data interchange systems and enables organizations to deploy governance frameworks to sustain these as sustainable digital assets. Dhiway is a founder-member of the Trust over IP (ToIP) Foundation that is working to help enable the trustworthy exchange and verification of data between any two parties on the Internet.