Chainreactor is developing and commercializing a permissioned blockchain platform for private, commercial grade solutions. The startup is the brainchild of former Capital One database specialist, Jonathan Nelson.
Nelson conceived of Chainreactor while building blockchain proofs-of-concept at Capital One in 2014 and 2015. He left the bank and teamed up with an industry veteran, Derick Smith, to turn his concept into reality. Based out of Indianapolis, Chainreactor is planning to release an early version of its technology to a small group of beta testers in June, and hopes to achieve a commercial launch towards the end of 2016. The company also has an office in Lan Kwai Fong, Hong Kong.
“Blockchain is just a decentralized transaction log. It is a decentralized method for ordering transactions that can be agreed upon and validated by the network. The argument that it is a database or ledger requires more to be added. We are harnessing the power and sophistication that has been engineered into database technology, and we are achieving tremendous results through the combination. For a start we outperform High Availability solutions with 100% uptime. The other results are speed. Much more speed than we thought would be possible.”
Chainreactor aims to provide the industry with a true leap forward in computing capabilities that encapsulate blockchain features at its core.
One of Chainreactor’s beta testers is DT-Chain, the Drachmae Project’s enablement platform for travel services and voice telecommunications companies. DT-Chain’s core objectives are replacing the opaque and dated system of travel rewards, especially air miles, and eliminating corporate fraud and reducing processing costs for operator interconnection.
Drachmae Project Founder, Lee Gibson Grant, noted:
”In 2015 Drachmae Project was hampered in several cases where Jurisdictional control and private network security was a requirement. Teaming up with Chainreactor to create DT-Chain will allow us to continue our work from 2015. Whilst I investigated providers such as Eris and Credits I wanted greater flexibility in designing our platform. The partnership with Chainreactor gives us the features and insights we wanted.”
The Drachmae Project has been testing various blockchain use cases, the most recent being a proof-of-concept experiment on the Greek island of Agistri.