Industry First: Proof Implements Blockchain, Combines Automated Data Rights Management and Networked Business Analytics

February 11 15:30 2018 Print This Article

NEW YORK, Feb. 12, 2018 (GLOBE NEWSWIRE) — In an industry leading move, Proof today became the first cloud-based software company in the world to implement fully encrypted, blockchain-based data assurance into a fully distributed and democratized business analytics platform.

Proof Chain™ Data Rights Management uses blockchain technology to enable customers to quickly and easily network an unlimited number of distributed data sources and ensure the ongoing security, integrity, reliability, provenance and traceability of that data.

Proof Analytics software computes fully attributed business and financial impacts for functions such as marketing, communications, corporate social responsibility, and HR, including financial return, time to return, and points of diminishing returns. In each one of these examples, the ability to share data securely while maintaining control over its use and distribution is key.

Dr. Melissa Kovacs lectures on quantitative analytics and economics at Arizona State University, and she also is president of FirstEval, a top data analytics firm.  “By integrating blockchain into its solution, Proof continues to revolutionize the business analytics space.  This addition enables customers to monitor and secure the integrity of data originating from any sensor, source or silo through distributed, tamper-proof ledgers of data ownership. Proof’s breakthrough means companies can have confidence in the security and provenance of their networked data and accelerate the adoption of high integrity, networked data analytics.”

David Williams, senior vice president of global portfolio strategy at CA Technologies and a former Gartner analyst, added: “Companies enter into alliance partnerships because they want to create more market impact and business value. One of the biggest challenges they have is that sharing data with each other has meant losing control over that data. Proof’s product architecture enables secure data sharing across firewalls, all while ensuring everyone’s data security and data rights. By adding block chain technology, Proof gives individuals and organizations even more additional control over the integrity of data, all within a decentralized, democratized network. It’s a very big step forward, and really puts Proof on the map.”

“Today, data is flooding into companies, representing information from many sources, sensors and silos. Blockchain is an incorruptible, fully auditable digital ledger of provenance and accountability that can record the transactional trail of anything of value, and that includes the creation, use and ownership of company data and analytics,” said Tom Bishop, co-founder and chief technology officer at Proof.

Bishop is renowned in the enterprise software industry as a thought leader on the balance between security and sharing, collaboration and control. Before joining Proof, he was the CTO of Honest Dollar, a fin-tech startup purchased by Goldman Sachs.

Bishop continued: “Companies struggle with data, and many have sought to deal with this problem by centralizing data management in data lakes and data warehouses.  Today, it’s clear that centralized data management is very costly, disruptive and usually fails to deliver any business value. As a result, the market is prioritizing the distributed model for both data and data analytics, and that requires a highly scalable approach to data assurance, data security and data rights management. By combining Proof Exchange™ and Proof Chain™, customers can assemble data securely, maintain ownership and control, and trace its use and transfer across its entire lifecycle, even across firewalls.”

“Data lakes and other centralized data management approaches have created negative value for many companies, and more and more are being decommissioned,” said Jason Frye, who leads worldwide digital innovation and enterprise strategy at BMC Software. Frye is well-known in IT management circles for creating applications designed to give a company’s employees control over many functions of the corporate service desk.  “By integrating data federation, security and analytics, Proof has become a powerful alternative to costly data lakes across a range of major use cases like marketing, communications, sales, and HR.  Proof Chain automates data rights and assurance without the costs and risks of failure associated with centralized data management.  Proof has accomplished a technical tour de force, delivering the power and simplicity that enable customers to quickly get a lot of value.”

Proof Chain is seamlessly integrated with Proof Exchange™, a new networked data architecture that allows companies to create highly secure data sharing communities that span their respective firewalls. The release of Proof’s block chain integration is scheduled for spring 2018.

About Proof

Proof is a powerful new business analytics platform that helps marketing, communications, corporate social responsibility, HR and other corporate functions prove and improve their market impact and financial ROI. www.proofanalytics.ai

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Jonathan Yaniv
Jonathan Yaniv

Jonathan is the founder and editor-in-chief of TrustedNerd.com. Covering major tech shows such as CES, Jonathan is always there for the latest tech news. Want your gadget to be reviewed or have a release you’d like to be considered for publishing? Send Jonathan an email, jonathan [at] trustednerd.com

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