nChain today announced the launch of Kensei, a blockchain platform that can seamlessly integrate into a customer’s existing business and data management processes. Kensei provides enterprises access to the benefits of tamper-proof documents and easily auditable logs—core attributes of the blockchain—without having to undertake complex blockchain development or build an in-house team of experts. The initial targeted use cases respond to market demand and will be supported with additional functionality to expose the full disruptive potential of Kensei so that customers can have complete confidence in the data they capture, store, and rely upon.
Kensei is the culmination of over five years of research and development, and benefits from the custom solutions that nChain continues to develop for a range of clients. In providing an easy-to-use platform, nChain aims to accelerate the adoption of blockchain technology as critical infrastructure and meet enterprise data integrity needs.
nChain CEO David Washburn said, “Kensei presents a major milestone in bringing data integrity and the benefits of the blockchain to enterprise. Businesses and governments risk wasting vast resources capturing, maintaining, verifying, and auditing the data they rely on, which ultimately can still be corrupted. With Kensei, we have simplified the implementation process, and our APIs provide an efficient way for organisations to ensure the integrity of their data, allowing them to focus on their core business and how they create value.”
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Since 2015, nChain has focused on developing solutions and inventions that target enterprise use of the blockchain and meet the data management needs of businesses and governments. Serving their needs, nChain is launching an offering that addresses the major challenge of verifying that data has not been altered.
Kensei is being launched with an initial focus on functionality related to audit and accountability. In particular, Kensei allows customers to easily verify the status of a single document or record, or of an ordered series of records where both their content and the relationship between them are important.
Enterprise clients can be assured that confidential information is not publicly exposed. Data that is processed through Kensei is stored using double hashing, which ensures sensitive information remains private, while maintaining the robustness of it and making changes easily detectable. Rather than arbitrarily fishing for misconduct, checks can now be carried out on an informed and automated basis, responding to alerts.
In addition, Kensei eliminates the need for enterprises to manage keys and addresses. The platform integrates key management into the application programming interfaces (APIs), so that customers can focus on collecting and analysing data.
nChain has a robust pipeline of additional functionalities that will be added to Kensei, which the Company expects to begin rolling out by the end of 2021.
Kensei utilises the Bitcoin SV (“BSV”) blockchain, taking advantage of several key characteristics, most notably larger block sizes, which allows more transactions, or referenced data, to be included in each block that is added to the chain. Larger block sizes support greater resource efficiency, as the energy associated with creating a block can be leveraged across a larger number of transactions, thus reducing the average cost and energy required per transaction.
