Scalable Blockchain Is Goal For Aston – ICO Soonbr>
Singapore-based Aston has a simple goal – replace linear blockchains with its own X-chain, a multi-dimensional structure that makes document authentication viable at scale. The Aston platform combines a Biometrics Authentication Solution and the multidimensional blockchain.
The company claims it will make it easy to manage, trade, and store documents in the blockchain. The technology is already being used in hospitals, banks and telecoms in Korea.
CEO Kim Seungki talked with Block Tribune about the project.
BLOCK TRIBUNE: Tell us how this works for a medical professional. Walk us through the steps.
KIM SEUNGKI: We see Aston begin used by hospitals and clinics to minimize risks associated with the storage, management, and transfer of sensitive personal and medical information. Imagine a patient’s medical record. Right now those are stored either on paper or on local networks. In either case, files can be lost, modified or deleted without any verifiable record or version control. Tampering can contribute to fraud. Poor version control can lead to medical errors. At hospitals using Aston, doctors and patients update medical forms using smartphones, tablets or computers, and that data is stored in the background on our X-Chain based 3D blockchain. Since the blockchain is immutable, we have perfect version control and we can always know when a document has been modified.
To doctors and patients this is opaque. They don’t need to know about the blockchain in the background, and thanks to the speed of X-Chain, there’s no difference in write or retrieval time versus local network storage. Aston’s platform is already being used in 2 major hospitals in Korea: CHA Hospital and Hallym University Hospital. At the beginning of next year the service will be available among the 90 hospitals that integrate the 4C Gate ERP.
BLOCK TRIBUNE: If incorrect information is inputted through human error, can it be corrected?
KIM SEUNGKI: Yes, but the error will not be written over. Instead, there will be another update that corrects the error. This means we have perfect version control and immutable record keeping.
BLOCK TRIBUNE: We recently saw Parity Technologies suffer a catastrophic blockchain failure. Does that prove that no chain is immutable or unhackable?
KIM SEUNGKI: The blockchain technology of Parity is etherium, and it should be said that the erroneous Parity’s security incident that occurred just before is not the accident of blockchain etherium but the security incident occurred at the application stage of etherium. The X chain is a blockchain technology such as Etherium, which has proven itself in terms of stability by using the proven blockchain technology, but there is a possibility of a security incident at the application stage. It happens to all of blockchain technologies.
BLOCK TRIBUNE: How will your company make money?
KIM SEUNGKI: Aston receives support from its parent company, Certon, which is a global technology security company. Aston also has signed partnerships with companies like Samsung SDS, LGU+ and NH Bank, one of the most important securities firms in Korea. We are launching a token sale next week to raise more money to continue working in the development of the platform.
BLOCK TRIBUNE: Will the records be stored forever? If not, what is the timeline for retention?
KIM SEUNGKI: Yes, the records will live in the blockchain and they will always be available for their respective owners. Aston platform uses a combination of X-chain and Biometrics authentication, making the process not only easy but also secure.
BLOCK TRIBUNE: Will there be any backup on the medical records in case of power failures or other problems in electronic access?
KIM SEUNGKI: The blockchain consists of a number of nodes. The assumption of a power outage itself is to approach the existing centralized frame rather than the blockchain. For example, in the case of etherium or bitcoin, assuming that the power source is a problem is the same as assuming a situation where there is a simultaneous blackout all around the world.
BLOCK TRIBUNE: Tell us about your ICO distribution.
KIM SEUNGKI: The total amount of tokens is 286,000 ETH and the token sale will be used to allocate 50% of them. The other half will be distributed in the following way: 15% for advisors, partners and investors, 15% to the team members, 15% as a reserve and 5% for bounty.
The crowdsale runs from December 11 through 17 and includes 15% bonus. The starting token price will be pegged at 1500 ATC (Aston token) per Ether, and Ethereum is the only currency that will be accepted during the token sale.