It is paramount to start with clean data if the blockchain is going to be an immutable record. Here's how to do so.
It is paramount to start with clean data if the blockchain is going to be an immutable record. But you need to start by knowing how to get clean data into a blockchain database. A startup company known as Venzee which has for some time been helping customers be able to clean their retail supply chain data to share it with larger vendors thinks that it has the right solution. Kate Hiscox who is the CEO at Venzee looks at this like a problem of data transformation which is a problem that her company has for the last three years been trying to solve in the retail space. She notes that the sector is full of spreadsheets which have to be prepared manually to share with the big retailers and their database requirements.
This company, known as Venzee, usually acts as a layer for data transformation. The company achieves this by taking the spreadsheet information as it is and helping to convert it into a format that can be used by the big retailers such as Walmart and Amazon. Kate notes that this brings a level of automation which has been missing in the industry.
Blockchain is just a new form of database where you need to ensure that the data going in is correct or face the problem of having bad data in a system that is said to be irrefutable and immutable. Kate’s company has created an innovative product known as Mesh which deals with this problem. This particular product is primarily a data transformation tool meant for the blockchain that can work for a scenario such as retail supply chain. According to Kate, this product can also work for other blockchain data transformation requirement and also prepare the data that that will be moved in the right format while at the same time providing a data review phase so as to ensure it is accurate.
Three phases process is involved for this to happen. The first phase which is a key phase for blockchain data involves validating the data. The second phase involves the data being transformed to work in the new format and the last phase involves the data being transferred. A good example is moving data from a land registry to the blockchain. The data will be moved from its format, the ownership records will be validated and then it will be put in the blockchain. This new product allows this to happen but it raises some questions about the validation process. Some of these questions include how to ensure that you are not creating a mean to alter data instead of validating it considering the tool uses a trust-based system. It is necessary to deal with these questions but the tool is about getting the data ready and moving. This system will need checks and balances beyond just that. This tool is currently available in private Beta and it shall be released in the first half of 2018.