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Dedoco, Blockchain For Your Business

Dr. Ernie Teo Profile Picture

Written by Dr. Ernie Teo,

Co-Founder, Dedoco, Head of deLab

Experimentation by enterprises on blockchain technology started as early as 2014 when banks started looking at letters of credit as a use case. The release of the Ethereum Whitepaper in the same year sparked much excitement and signalled the advent of the smart contract era. 

Why Blockchain for Enterprises?

The key characteristics of blockchain which made it attractive to businesses are trust, automation and disintermediation. Current day business processes are clunky and slow as there is a lack of digital trust. Human beings have to get involved to manually verify and enter information. Blockchain, being tamper-proof and transparent, allows the data/information to be shared and trusted among multiple stakeholders. The ability to have a single source of truth across the ecosystem drove many enterprises to look at implementing blockchain.

Enterprises, however, quickly found that they require some level of privacy over the data which permission-less public blockchain technology (during that time) could not provide. They also preferred that the blockchain network not be opened to the public. This led to the evolution in enterprise blockchain technologies such as the Hyperledger family of protocols and Corda. Many use cases have since been deployed and tested on these protocols. Some interesting and notable applications include Food Trust by IBM, Fizzy by AXA and Open Attestation by Govtech Singapore. 

Enterprise blockchain application - Hyperledger Fabric technology & Food Trust

One successful case using permissioned enterprise blockchain technology was Food Trust which utilizes Hyperledger Fabric technology. Food Trust was started in October 2016 as an experiment by IBM and Walmart to track provenance of food products such as mangoes and pork across the food supply chain. It is a supply chain record keeping system designed to improve food safety. The successful trial which led to a production roll out across the industry in 2017. Prominent members of Food Trust includes Carrefour, Nestle and Dole Foods.

Use of Public Blockchain

Not all blockchain use cases for enterprise are built on permissioned blockchain technology. Fizzy by AXA was one example using public blockchain. It was parametric insurance offered by AXA for flight delays. Smart contracts on Ethereum were able to check if flights got delayed and could trigger instant payouts in such events. Unfortunately Fizzy shut down in Nov 2019, it was ahead of its time and the market wasn’t ready. However it demonstrated a very interesting use case on how smart contracts could be utilised for a business using public blockchain technology. 

Public blockchain is also being adopted for certification use cases. Open Attestation is an example, it was first rolled out by Govtech Singapore to educational institutions for the issuance of education certificates (as OpenCerts). When COVID-19 hit, the framework was adapted to be used for PCR tests and vaccination proofs. Open Attestation allows for the verification of any digitally issued certificates and is also being used for trade documentations. Dedoco has also adopted this framework in our dCert product, allowing for our users to easily issue certificates of their own. The use cases for company issued certificates include testimonials, certificates of appreciation, trade documents and even greeting cards.

The blockchain journey for every business is different. Over the years there have been many implementations and use cases. Dedoco was part of a research study by the Blockchain Association Singapore and the University of New South Wales entitled “Mapping the Enterprise Blockchain Landscape - Use Cases across Asia Pacific” (Visit this link to download a copy). The aim of the report is to understand the different approaches business and their service providers take when implementing blockchain. The report included insights from government agencies in Singapore such as Govtech and the Monetary Authority of Singapore, as well as industry players such as One Connect Technology and Accenture. Discovered as part of the study, there are many areas one can explore to get started with Blockchain for their business. However there are many challenges, such as having to work with consortiums and your competitors, finding and paying for talent to build, develop and manage the blockchain solution. Setting up and maintaining your own blockchain solution is hard.

Dedoco & Blockchain for Business 

At Dedoco, we make it simple to connect via our APIs to access blockchain features without having to directly interact with the blockchain. Dedoco stands for decentralised document connector. We aim to connect systems to systems using decentralised trusted documents. Every business deals with documents and has various processes associated with them. One of the biggest challenges for full digitization is a lack of trust between systems. Dedoco can help to change that. You can hash documents, add signatures, approvals and versions to blockchain via Dedoco APIs. To improve the business processes of our users, we have created a suite of products such as digital signing, video signing, certificate issuance and verification. Dedoco aims to help Web2 companies bridge into Web3 through the use of our platform and APIs to issue Web3 documents. 

Dedoco is also designed to protect the privacy of your document. The solution does not store your document, rather it captures its hash such that it can be verifiable at different stages of the document process. With this design you can choose your own deployment model to use our solution, including the option to bring your own document store. 

deLab by Dedoco

We also recognise that there are business use cases for blockchain beyond signing and certification. As such, we created deLab by Dedoco, our research and development branch. At deLab, we are building a set of basic building blocks for blockchain based document processes, we call this the Dedoco Trust Engine. This will be accessible via APIs and can be connected to different blockchain protocols and networks. The building blocks form the foundation for businesses to explore their blockchain use cases and be able to quickly create POCs.

The best use cases and applications come from the actual users of the product. At deLab, our consultants will work with your business to identify key touchpoints which can benefit from blockchain and co-develop solutions with you. 

At Dedoco, we offer an alternative approach to creating business use cases for blockchain. Instead of writing your own custom smart contracts, you can interact with different blockchain functionalities via APIs. We also offer different options for the blockchain network (permissioned or public). This means you don’t need to maintain your own blockchain network or need specialised blockchain developers. 

Dedoco aims to amp up blockchain adoption for real world business use cases and use blockchain to make a positive change for enterprises. Whatever your use case, our set of solutions are created to help you realise your blockchain vision. If you have standard business processes you want to digitise, you can use Dedoco’s SaaS platform or its APIs. If you like to build your own blockchain based applications and customise your own processes, you can use Dedoco Trust Engine.

If you are interested in Dedoco solutions or delab services, you can contact us here.

Blockchain Beyond Crypto - businesses have been using blockchain for almost a decade now. Want to know about enterprise blockchain applications? Read more.

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A Secure Financial Services Future: Keeping Your Most Sensitive Documents Watertight

Trust and security are key in any industry. Within the financial services industry, trust and security play an even more significant role as highly confidential information like customers’ personal and financial details are managed.

Financial organisations are increasingly subject to more data security and sovereignty regulations, meaning the industry needs to ensure its trust and security are flawless, especially when dealing with sensitive documents. 

Mitigate risks of document interference with Dedoco

Documents hold valuable information, and in the wrong hands, it can be detrimental to partnerships, profits and stability. Several documents often move across multiple financial institutions to execute transfers, agreements and contracts. This creates unnecessarily long chains of actions and processes, multiplying risks of document interference. In addition, as documents increasingly digitise, risks  of document tampering, fraud and theft increase exponentially. Financial services institutions who strengthen the trust and security of their digital documents will in turn, strengthen the foundation of their organisation’s security and compliance.

Digital document solutions such as Dedoco enable the financial services industry to create legally binding agreements  with advanced signature verification, and authenticated credentials. Financial services institutions need to ensure they are implementing a document security solution that is flexible, compatible with existing business applications and robust against all kinds of potential document threats. Documents required to execute account openings, transfers of assets and credit reports are able to remain secure and verifiable when the solutions are: 

Tamper-proof
  • Tamper proof: Document platforms that are powered by the blockchain ensure that all changes are tracked and can only be authenticated if all parties approve. This makes the documents tamper-proof across the document chain. 
Verifiability
  • Verifiability: When document solutions verify the provenance of the document through the audit trail and chain of custody, the risk of interference and disputes over document versioning is vastly reduced.
Documents-should-not-be-with-third-party-storage
  • Third party storage: When dealing with sensitive information, it is imperative for organisations to control data residency of their documents. Documents should not be stored on third-party servers as it increases the chance of data exploitation and manipulation. Dedoco ensures that the documents reside securely with customers, facilitating regulatory compliance.

Contracts and agreements are the very foundations of the financial services industry. Documents hold critical customer and business information and such sensitive information must be kept safe and secure at all costs. With next-gen technology, Dedoco can help financial services organisations to implement document workflow solutions that are secure, verifiable and tamper-proof. 

Contact us here to know more. We look forward to working with you to make your documents Dedoco-secure.

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Independent Vendor Analysis of Dedoco

"They are a surprising innovator, recognizing the value of blockchain and document management combined. We have long advocated for the use of blockchain for documents, and they have the potential to set that ball rolling. Surprisingly, few, if any, have done this before, and surprising in that they are already, despite being an early-stage startup seeing notable success." 2 August 2022, Deep Analysis Analyst Team, 5 New Reports Available.

Dedoco caught the attention of Deep Analysis this past quarter and has been featured and published in an independent vendor-specific report. Read all about it below.

Source: Deep Analysis (2022).
Source: Deep Analysis (2022).

Source: Deep Analysis (2022).
Source: Deep Analysis (2022).

Original article: https://www.deep-analysis.net/vendor-vignette/dedoco/

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Getting Down To Business with Web3

Web3 has been touted as the next internet revolution. It will empower end-users, allowing them to use, trade and share digital assets and information in a decentralised manner. It will enable true peer to peer interactions on the internet, without the need for any central authorities. As such, many term Web3 as the “personal” internet. 

To Dedoco, Web3 means ownership. Ownership of your own documents and information which can be shared in a trusted and verifiable manner. Decentralisation is at the heart of this, with the trust that comes with proper processes recorded on blockchain, one doesn’t need to refer to a central authority for the source of truth. This combined with tokenization and smart contracts, allows us to truly ‘own’ our documents and digital assets.

Web3 applications began to realise their full potential with the rise of DeFi and NFTs. Users can bring their digital assets and wallet with them from application to application and this comes with connectivity to other decentralised applications such as cryptocurrency swaps, naming services, identity management and storage. Use cases for Web3 extends to DAOs (decentralised autonomous organisations) where token holders can vote on various decisions much like a company board and Metaverse applications as the industry looks to making virtual assets more portable between digital realms. Of course Web3 has many interesting implications for the financial industry and we saw evidence of that at Singapore Fintech Festival 2021 where the entire conference theme was centred around Web3.

The Web3 technology stack consists of several layers ranging from protocol to front end applications. Inbetween, infrastructure plays an important role. The infrastructure layer is where the different tools or “lego blocks” lie for one to be able to build their own decentralised applications. This covers transactional tools like Uniswap, decentralised storage like IPFS and identity management tools like ENS.

For Web3 to be able to change the fundamentals of how we work, one missing category in the infrastructure layer we foresee is a set of business process and documentation tools. Every business deals with documents, be it contracts, agreements or other documentations like purchase orders and invoices. These documents need to be issued, approved or acknowledged by various parties. In general such documents are not trusted between entities and systems, manual verification processes are needed when a document passes from one system to another. Web3 can potentially change this with non-fungible document processes (NFDs). 

A NFD would provide provenance on the document and its business process by tracking the following:

With these features the NFD can be trusted and verifiable digitally. This can bring about new paradigms to digital transformation and new ways to connect with customers. For example, businesses can share information and documentation by bringing their own trusted documents. This gives more power to the document owners and also enhances the competitive environment.

The next step to the Web3 industrial revolution is to bridge companies from Web2. As companies transition from centralised systems, they would need to:

As we transition towards a “personal” internet that is more connected and technologies like AI, ML, AR and VR continue to change the world that we live in. It is important to consider Web3 as part of any company’s digital transformation process.

At Dedoco, we are connecting systems using our DEcentralised DOcument COnnectors. As a document goes through a signing process via the Dedoco platform (with full digital signing features), NFD Processes are generated. Making the documents tamper-proof, verifiable and trusted. Dedoco also provides APIs to connect between systems, allowing one to integrate from Web2 to Web3. To find out more, contact us and request for a demo.

This material was first presented during Singapore Blockchain Week 2022, organised by Blockchain Association Singapore (BAS).

Watch the Keynote session here

Original article link

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Ice Breakers with Daphne Ng

👋🏼 How would you explain your job to someone outside tech?

I am the CEO of Dedoco. We are a digital Document Management as a Service (DMaaS), providing next-gen privacy protection and document security to businesses.


🧐 What's something about you or your job that would surprise us?

I am risk-averse and have not tried many foods.

For one, I have never tasted an M&Ms before and still wouldn't try.


🏆 What has been the biggest highlight of your career so far?

Creating and growing Dedoco.

For the immense belief in our vision and how we are going to change the future of technology.


🔍 What's a startup trend or space you're watching this year?

Enterprise Web3.

Watch us (Dedoco) in this space!


💼 What advice would you give someone starting out in your industry?

You can ask for advice, but it's equally or sometimes even more important to listen to your gut.


🗣 What's one thing you can keep talking about for hours?

Work.


🎥 What's your favorite movie/TV show?

Current fave: You (on Netflix)


🍨 What's your go-to ice cream flavor?

Dark Belgian chocolate

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Names with stories: The story behind Dedoco.com

Dedoco is a digital DMaaS (document management-as-a-service) platform, that focuses on protecting data privacy and document security for companies, leveraging on blockchain technology.

We talked with Daphne Ng, Co-Founder and CEO of Dedoco, about the origin of the brand name and why getting the exact brand match domain name was crucial to them.

Can you tell us a little bit about yourself and how Dedoco got started?

I am Daphne Ng, Co-Founder and CEO of Dedoco, which stands for Decentralized Document Connector. My co-founder Ernie and I came from blockchain and enterprise sales backgrounds, respectively. From our combined experience, there was a distinct gap in the market relating to privacy protection and document security requirements that regulated industries like banks and financial institutions needed to comply with. Dedoco was formed to solve some of these critical pain points that businesses face by leveraging blockchain technology in the most elegant way, to solve some of these concerns relating to trust and security.


Apart from Dedoco, no other company was able to achieve this in a way that makes the technology understandable and accessible for easy adoption by businesses. We believe that the future of technology is about giving users full control of their data/documents, and this is Dedoco’s core decentralized value proposition – an antithesis of all centralized, legacy, and incumbent solutions.

How did you get the Dedoco.com domain name? Was there an “aha” moment when you knew it is the one?

It was both an unassuming and serendipitous exercise for us. I remember using an online word generator that formulated catchy names that were made up of a plethora of words that we inputted to describe our company.

Out of all the potential names that were generated, Dedoco was the only name that had a ‘nice ring’ to it and was still available with a .com domain, which was our top priority. – Daphne Ng, Co-Founder & CEO of Dedoco

As a matter of fact, ‘doco’ is also an abbreviation for software or technical documentation. And with Dedoco in its full articulation that describes exactly who we are and what we do, i.e. connecting and converting Web2 documents and systems to Web3, we knew that this was ‘The One’.

What value do you think Dedoco.com brings to the Dedoco brand? Do you own any other domain names?

Dedoco.com definitely provides better global accessibility, brand recall and online searchability. Our other sub-domains include Dedoco Verify and Dedoco Hired.

What was the vision and purpose of your company when it first started and how has Dedoco evolved as a brand since?

Our vision and purpose remains the same since day 01.

Dedoco’s vision is to be the next-generation document infrastructure platform that provides privacy protection and document security to businesses, leveraging on blockchain technology. We want to give our users the freedom of choice and have full control and ownership over their documents.

In your area of expertise, what are some of the bad brand naming recommendations you’ve heard?

..it is important that a name allows a brand/company enough room to grow, expand and evolve over time. – Daphne Ng, Co-Founder & CEO of Dedoco

Not exactly bad, but we have had suggestions to include the word “sign” to our name during the early days when we were mistaken for being just a signing solution. In my opinion, it is important that a name allows a brand/company enough room to grow, expand and evolve over time; and in our case, to become an everyday verb as well (like Google).

“Can you dedoco it over to me?”

What do you do to make sure your marketing is effective?

It will definitely be an omni-channel approach. But as an early-stage startup, I have found that positive word-of-mouth marketing is far more superior than standard marketing. Founders also play a part in epitomizing the brand and inspiring followers.

What would your advice be to entrepreneurs who are just starting out?

..a good name can make your vision and purpose come alive. – Daphne Ng, Co-Founder & CEO of Dedoco

In terms of naming your company, I would go as far as to say that a good name can make your vision and purpose come alive to your stakeholders – shareholders, employees, and customers.

What is next for Dedoco?

We have a few more mountains to accomplish. And we will start by conquering the next one first.

Last thing, if some of our readers have more questions. Where can they reach you online?

Drop me a DM on Daphne’s Linkedin or email me at Daphne’s email.

You can follow Dedoco on LinkedIn, Facebook, and Instagram, or visit their website to find out more about the company.

 

Original article: https://smartbranding.com/names-with-stories-the-story-behind-dedoco-com/

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The Future of Technology: Giving you Full Control and Freedom of Choice

When the world was thrown into disarray with a global pandemic, organisations were given a loud wake-up call to prioritise the gaps in existing business models and embrace that change is necessary. It also became apparent that many existing corporate technology infrastructures were ill-equipped to handle emerging trends in the business landscape; despite digital transformation being "well articulated" even prior to the pandemic. What was more alarming was that the very systems that were meant to help businesses pivot themselves in a changing digital world, could at times take up to months or years to fully integrate into one’s business. As such, adapting to the needs of the rapidly changing business landscape often proved to be risky, costly and time consuming.

But this should not be the case.

With Dedoco, I saw a unique opportunity for us to challenge the status quo and push the industry towards what we envisioned the future of technology to be like: flexible, scalable and highly dynamic. We wanted to give organisations full control and the freedom of choice when it came to choosing their technology stack. Trust has always been important for businesses, but more so than ever before, businesses today need to be assured that the technology they are using truly benefits them — and not work against them.

Moving forward, the role of technology leaders will also continue to be increasingly important. In fact, a recent report by Deloitte and WSJ Intelligence found that 50% of CEOs said their CIO or tech leader will be the driver of business strategy. As such, businesses need their technology leaders to be resilient, agile, and future-focused. In my conversations with numerous business leaders and owners talking about their technology journey, many have regretted investing in costly, complicated and unwieldy systems at some point in time. Because when it does not work out, they have already invested a six to seven-figure sum that they cannot get back or get out of an agreement with. Companies inevitably feel locked in, disempowered or penalised for undergoing digital transformation.

Starting Dedoco in the middle of a pandemic also means that we understand what it takes to thrive, and not just survive. And how we can also be a close partner to our customers and support their digital and technological endeavours – without them breaking the bank. The world is already moving away from heavy, complex centralized systems, where many were designed to be closed-loop, system-centric and needing users to “fully onboard onto their systems”. Dedoco, on the other hand, is on the anti-thesis of this: to deliver an enterprise-grade, integrable solution with quicker time-to-market, easier scalability, meaning businesses only pay for what they use, and with reduced risk.

After all, the future of technology is about giving you full control and freedom of choice.

Original article: https://www.linkedin.com/pulse/future-technology-giving-you-full-control-freedom-choice-daphne-ng/

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