Contract storage system using blockchain technology
LANIT-TERCOM developed a contract storage system using blockchain technology for a Swedish client, a company creating systems for the automatic and secure conduct of transactions between suppliers and retailers.
The company needed to migrate contract data from an existing system to blockchain technology. The aim was to ensure a high degree of confidentiality using cryptographic security and verification. The prerequisites were a high level of fault tolerance, flexibility and scalability.
The customer made the following requirements:
- The solution must be built as a cloud-based system, using open technology.
- Access to contract data must be online.
- Parties should be able to adjust document attributes independently.
The Hyperledger Fabric, an open source project organized by The Linux Foundation, was used as the basis for the development, with the possibility of hosting in the cloud infrastructure. Hyperledger Fabric is a distributed storage platform based on a modular architecture providing a high degree of confidentiality, fault tolerance, flexibility and scalability.
The solution was deployed on multiple nodes with the option to add project participants. The blockchain assets were designed with the ability to extend document attributes. Interaction with the modules of the existing system was realized using APIs. During the implementation of the project, the requirement of fast tracking of changes under the contract was taken into account and additional functions were created for this purpose.
Thus, conversion of part of the existing system to blockchain technology made it possible to store contract data in a secure mode, receive up-to-date information on contract status and on all changes under the contract, reduce the number of duplicates, optimize the process of identification of participants and minimize the threat of distortion and substitution of information.