Biotron is a personal data analytics platform that uses blockchain for two main tasks within its ecosystem. To facilitate transactions of data and of their proprietary BTRN token, and to host smart contracts between data providers (our users) and data customers.
To reduce the significant investment in infrastructure Biotron decided to seek a partnership with an existing blockchain solution. The sheer volume of transactions and smart contracts (required to provide customers with Biotron’s analytics products) meant that solutions such as Ethereum, Multichain, Waves, and Ark, would not be sufficient. Of these blockchains, only Ethereum is capable of handling smart contracts in limited amounts. However, their transactions are expensive and the blockchain is notoriously slow.
“When deciding on a blockchain, we needed to think about how our analytics could be easily assimilated into an organizations’ existing ecosystem too.”
— Pavol Magic, CEO
Biotron sought a partner with an organization that was just as business focussed as their data analytics’ solution. One that understands how they are using analytics to drive business decision making; and in turn, how businesses will use those analytics. Naturally, the solution had to have all the features required technically and be robust enough to handle potentially hundreds of thousands of micro-transactions quickly. Fortunately, Biotron found both of these in one place. After going through an extensive amount of consulting and exhaustive due diligence process, they are pleased to reveal that will be using a blockchain platform provided by SophiaTX.
SophiaTX is designed specifically as a full-service, business compliant blockchain. As a transactional exchange (TX) platform it will help Biotron’s users and customers collaborate by connecting their transactions and organizing them into smart contracts. Their cross-industry platform is attractive because our analytics products will have application to limitless types of organizations. They are also the first platform to focusing on integrating with SAP and other ERP, CRM, and SCM systems. The connection that their blockchain can manage to companies’ backbone systems will prove to be an invaluable asset in the adoption of Biotron.
The architecture, logic, and properties of SophiaTX’s blockchain perfectly match the parameters required for Biotron’s data analytics’ platform. This includes: being open source software, having predefined smart contracts, being low cost for transactions due to the high volume of micropayments, capable of direct mapping of assets with fiat currencies (e.g. EUR, USD, JPN), being consensus-based on automatic election, permission control with dynamic access lists, and have both mobile and web wallet accessibility. By using a public blockchain Biotron remains committed to its principle of bringing transparency to the personal data industry.
This collaboration brings the benefit of an easier scalability of volume, with respect to users, customers, and analytics. It also comes with powerful connectivity systems that make data transactions easier for businesses to integrate into their existing systems.
To request an interview with Biotron’s CEO, Pavol Magic, please contact Renata Smolkova at [email protected]. Pavol can discuss all topics in this release and is an expert in the monetization of data products.