Biotron is partnering with SophiaTX to increase the volume capability of its blockchain-based, personal data analytics platform.
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 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, Biotron said in a release.
“When deciding on a blockchain, we needed to think about how our analytics could be easily assimilated into an organization’s existing ecosystem too,” CEO Pavol Magic said.
Biotron sought a partner organization that was just as business-focused as their data analytics’ solution, officials said. The solution had to have all the technical features and be robust enough to potentially handle hundreds of thousands of micro-transactions.
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 most types of organizations. They are also the first platform to focusing on integrating with SAP and other ERP, CRM, and SCM systems.
The architecture, logic, and properties of SophiaTX’s blockchain perfectly match the parameters required for Biotron’s data analytics’ platform. This includes:
- Open source software
- Predefined smart contracts
- Low transaction costs due to high micropayment volume
- Direct mapping capability of assets with fiat currencies
- Consensus basis on automatic election
- Permission control with dynamic access lists, and
- Both mobile and web wallet accessibility.
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.