Startup Blockchain Chain launches a new cloud-based service called Sequence for balance management in financial and business applications.
According to the company's blog, the service can be applied in cases of use such as digital portfolios, lending platforms, marketplaces, exchanges and more, removing the need to build a custom system. Instead, the cryptographically secured product is provided as a SaaS (Software-as-a-Service) offering.
Anticipating perhaps that financial service providers may be reluctant to host their data in the cloud, Chain insisted on product safety by saying:
"While registries are managed as a service, all transactions must be signed by the appropriate keys, held in secure enclaves and controlled by users, services or organizations that have authority over particular assets and the feature, the sequence can not access it. "
With sequence ledgers, balances are represented by "token-like objects" called assets, which can be "created, transferred, removed or entered into more complex programs". A single transaction can include a number of actions involving multiple assets and accounts, explains Chain.
Currently available for free as a public developer preview, Sequence is expected to move to a general launch in the first quarter of 2018, when an Intel SGX-based production enclave service will also be added.
Disclaimer: CoinDesk is a subsidiary of Digital Currency Group, which owns a stake in Chain.
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