Ties.Network is unique in creating a public noSQL database — Ties.DB. It is resistant to data compromise, and supports replication and sharding. With its ability to modify and delete data, ability to perform full text search, and support for secondary indices, it brings to the general public the features previously only available on a private noSQL database. Interest in applications of blockchain technology in the data processing world has grown tremendously in the past several years, resulting in various pilot projects for the application of this technology.

Ties.Network in particular can be employed wherever smart contracts might be applicable. Indeed, many major corporations are now investigating the use of smart contracts with blockchain technology. However feature-rich applications have a lot of other content besides smart contracts that should be stored somewhere. Ties.Network has the potential, being the only public network resting on a public NoSQL database, to bring these applications to a much wider audience.

These are some of the areas currently being investigated for use with smart contract technology and fast and scalable data storage.

Financial Services

Trade clearing and settlement. Manages all workflows between parties, calculates all settlement amounts and transfers all funds automatically.

Bond coupon payments. Automatically calculates pays all bond interest payments as well as return principal upon bond maturity.

Insurance claim processing. Performs all basic clerical workflows as well as calculating payouts based on claim type and underlying policy.

Health Care

Electronic health records. Provides all necessary access to medical health records based on signature approvals between patients and providers.

Population health data access. Grants researchers appropriate access to PHI (Personal Health Information) with micro payments made to patients who participate by making their information available to vetted researchers.

Personal health tracking. Grants patients their permanent health records. Patients now have the ability to share their records with healthcare professionals and hospitals of their choice.

Use in Other Industries

P2P transactions. Ties.Network smart contract capability allows negotiation of contracts between individuals and organizations. The contract is executed according to terms set between the parties, and disputes are handled by trained professionals.

Product and inventory history. Provides for documenting party and custody based on position in the production process. Users can keep track of inventory and products throughout the supply and production chain.

Technology and Media Use

Fraudulent downloads of music and media are eliminated and payment of royalties is guaranteed to the owner.

Keeping track of works of art in museums and private collections to ensure safety and clarify title to the work.

Government

Negotiation of contracts, recording of real estate transactions and maintenance of tax records.

Charity and Nonprofit Organizations

Ties.Network allows users to initiate and record pledges and contributions without costly follow up by volunteers or paid employees.

Organizations can maintain contact with their contributors updating them on the issues important to them.

The blockchain provides the single ledger as the source of authentic information. Smart contracts facilitate the ability to automate workflows and calculations that are traditionally prone to lag and error. This will reduce errors, contention, and time to settlement.

Most of the trials and research being performed are being done on private networks which severely reduces the scope of these applications. Ties.Network with a public, secure, and robust database can provide these functions to the general public much in the same way the Internet brought many of the functions of private networks to the public.

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