Understanding TransferChain

Biggest Threat: Centralization

Centralized storage and transmission of unencrypted data could lead to a number of problems for service providers and end users. For example, in a conventional cloud file storage and transfer system, login/logout operations run on centralized servers can make identity information vulnerable and be subject to a single-point-of-failure. A shared and centralized database contains all the information, including metadata and public keys. This could be very risky due to the underlying centralization architecture. File operations also run on a centralized server. All the files are uploaded to the same place where all the keys and meta are stored in the same place. In general, there is no data distribution whatsoever.

The system network runs on the company's server. Because the system relies on a centralized server, it is difficult, if not impossible, for the company to make it decentralized because all the file operations and key management are connected to a single authorization point. Many systems are unfortunately protected only by the SSL/TLS protocol, the last 15 years have shown that it is not sufficient to rely only on this protocol. Therefore, these types of authentication protocols need to be strengthened by additional security measures. Hence, a potential cybersecurity attack on these architectures could leak private or commercial data. This is already a known issue for many existing cloud storage systems.

Who Benefits from TransferChain

TransferChain can serve a multitude of real-life use cases and can be a stronger alternative compared to the traditional methods. While we will give examples from different sectors, here are a few use cases that briefly discusses how some of the industry verticals can directly benefit from TransferChain’s features:

The primary customer market share of TransferChain consists of large corporations and SMEs that require safe, private, fast, storage and data transfer capabilities (including database storage, historical information archiving, API integrations, etc). Every industry is vulnerable to data breaches, but financial, healthcare and supply-chain industries bear the brunt of the risk because of their potential monetary value.

The secondary target customer will be consumers;

We are aware that consumers today have become substantially more privacy and security oriented. This is due to the recent breaches of multi-billionaire companies, in which consumers’ data are constantly being leaked. Therefore, TransferChain will be a great fit for today and tomorrow as more consumers follow the increased privacy trend. In addition, as consumers are more diverse with their platform needs, we will make sure that TransferChain is compatible everywhere on Android, iOS, Web, Desktop. In addition, our platform will be user friendly and easy for our customers to use and access.