CapLinked announces TransitNet, a Blockchain Protocol to protect digital assets
CapLinked, backed by Founders Fund and Alphabit Fund, announces TransitNet a blockchain protocol to secure enterprise transactions on the blockchain. TransitNet is an open and unified blockchain framework for protecting digital assets and permanently recording data access during enterprise transactions. Digital assets are processed, protected, shared and tracked
The TransitNet protocol will be accessible via an API and used to process, protect, share and track digital assets for information exchanging hands during business deals. Transactions such as financing, licensing, M&A, asset sales, business development, manufacturing orders—as well as related issues of compliance, regulatory review, and audit—mean that enterprises are constantly sharing information with outside parties, making security protections and automated tracking on an immutable ledger vital to successful business operations.
“Enterprise transactions are full of friction and risk. While Ripple and other decentralized technologies are addressing payments, the transfer of funds is only a small part of a B2B transaction,” said CapLinked CEO Eric M. Jackson. “Companies have to exchange information before, during, and after a transaction, raising many challenges around the security, control, and tracking of digital assets. That’s why we’re building TransitNet, a decentralized protocol to protect digital assets and permanently record data access.”
TransitNet will tackle integral enterprise transaction needs head on with an open, global distributed ledger. TransitNet’s decentralized application (dApp / API) will allow users to apply protections and track their digital assets when they’re transferred to third parties. They’ll be able to encrypt, watermark, and set access parameters for digital assets being moved and track their movement on an immutable decentralized ledger, which provides undeniable proof of access—an invaluable resource should a subsequent dispute arise. TransitNet will be an indispensable component for the execution of transactional interactions. An ecosystem of applications, computer nodes, and developers will foster the utilization of the protocol and TransitNet’s native token.
Arons Lee, Chief Technology Officer at CapLinked, said: “Blockchain, in its peer-to-peer, distributed nature, will offer a distinct set of benefits to the most urgent needs for secure enterprise file sharing. Blockchain’s permanence and immutability means that there is very little risk that a malicious act or business failure will result in loss of data or manipulation. A distributed ledger brings process integrity to an ecosystem of stakeholders and prospective users who will be able to trust the technological backbone that is far more secure that any current cloud-based applications in existence.”
Co-founder & COO at CapLinked, Christopher Grey, said: “We have a proven track record and a profitable business with industry leading technology that has already been used to share millions of digital assets involving billions of dollars of transactions in financial services, healthcare, energy, and technology.”