Companies searching for a reliable blockchain database to power enterprise-grade applications can now access FlureeDB, which Winston-Salem-based FlureePBC has moved from beta product to a full product launch.
Blockchain technology is primed to transform entire industries, said Brian Platz, co-founder and co-CEO, including supply chain management, insurance, real estate, and FinTech.
“All of these require a lot of data sharing between multiple parties,” said Platz, and the current infrastructure requires a third-party to control the data and an additional third-party to audit the data to ensure no tampering occurred. “FlureeDB makes all of this sharing possible with no single party controlling the data.”
The result, said Platz, is that companies doing business with one another that otherwise may not trust each other, can operate on a platform that guarantees full trustworthiness, due to instant visibility and transparency.
“We think it’s a pretty big deal,” said Platz.
More than 700 companies joined beta test
More than 700 companies joined the beta testing phase, and according to Platz, many Fortune 500 companies and many global companies are included in the mix. Three startups with ties to Winston-Salem were early adopters, and have already begun to incorporate the product into their operations.
“We are thrilled to use FlureeDB as part of our continued commitment to innovation, security, and efficiency,” said Bobbie Shrivastav, co-founder and CEO of Docsmore. “FlureeDB gives us the power to irreversibly guarantee that sensitive information was handled correctly and legally binding signatures were stored immutably.”
Docsmore uses FlureeDB to store document signatures on an immutable ledger, and the startup’s clients benefit. The concept of the immutable ledger is critical in considering the impact that blockchain technology will have in how enterprises operate.
FlureeDB can run internally as a highly-performant graph database to power standard business applications, and can also be distributed and decentralized—in its entirety—across an established network, or a permissioned blockchain. Permissioned blockchains provide entities in a consortium with a transparent ledger of transactions that is immutable by nature and decentralized with no central authority.
“It is my hope that the flexibility FlureeDB provides developers will be leveraged to pioneer practical deployments of enterprise blockchains and usher in a new era of decentralization, business transparency, and industry collaboration,” said Platz.
The company does provide free access to FlureeDB, which may be able to power lightweight applications, said Platz. To access more robust features, enterprises pay $9–1,000 per month depending on the features. The features built into the first product came directly from feedback and in working with beta test users, said Platz, “to optimize performance around real world use.”
These features include the immutable blockchain core for tamper resistance and a historic audit trail, smart database functions, support for the distributed ledger across a decentralized network, a point-in-time-query feature to access historical data, and a graph database format with analytic query logic support.
