Our 2nd year presents a unique opportunity to reminisce on year 1 and simultaneously look ahead into the future. This year the one value which resonated across the team is tenacity – the willingness to continue to experiment and find better ways to deliver easy to use solutions for digital trust ecosystems.
Digital Trust is Now More Important Than Ever
Around us, we see the explosive growth of applications and services built around connected networks. And we see the need to create a bedrock of digital trust methods which reduce the risk in business transactions across the borders of the ecosystem. Our belief is that as digital services see wider adoption, consumers desire a higher level of assurance and confidence in the systems they interact with. A well-designed model of application and services which helps in mitigating losses and enables transparency is how we see the next generation of connected services shaping the future. Our model where the microservices are designed and deployed around a data fabric as a service is well aligned with the emerging Dynamic Data Economy (DDE). While the modular microservices helps us achieve a clear separation of concerns, enabling a data producer/consumer model brings us closer to a ‘data-oriented architecture’. It enables the design of a protocol that needs simple instructional syntax for operations and can also respond to event/trigger-based systems approaches. This design pattern allows us to offer an extensive degree of flexibility to users in the context of data management. They would now be able to determine data that needs to remain private and data objects which would need to be shared and correlated.
Delivering Trust to 1000+ Clients
The 1000+ organizations on our #MARK Studio platform provides us with a constant stream of feedback around tuning and improving the platform experience. Throughout this year we have focused on unpacking the complexity involved in delivering context-based trust over the internet. If we have to succeed in our approach towards making it easy to have trust-based digital services and ecosystems then it is necessary to focus on three key aspects – data security, application integration and ease of content creation. We continue to make progress across these three approaches by focusing on the consumers of our products and the successful outcome they desire in these engagements. Adopting well-known principles of secure design and privacy, our applications and services have always been focused on data management and the minimization of potential harms through data manipulation. We continue to see a positive trend in daily usage and daily active customers on the #MARK Studio platform. This validates our approach towards first enabling ease-of-use in order to empower our customers to take the first step towards transforming their data pipelines.
Year 2 – Improving and Growing
#MARK Studio has been iteratively improved for more smooth management of credentials. And we have been intentional in enabling the application to be the front-end to a variety of digital foundational identifier based platforms. This provides extensibility to ongoing projects and builds around the authentic data stream workflows available in #MARK Studio. For greenfield projects, it creates an opportunity in the design of the information technology architecture to include the #MARK data exchange protocol. With a growing library of templates now available for consumers who seek to use the #MARK data exchange protocol, the rich web UI in #MARK Studio is well suited for handling large data archives in order to provide quickly resolvable verification methods.
The programmable services model in #MARK Studio will continue to offer value-centric provenance services at scale. This year we have been involved in pilots which demonstrate the impact of #MARKs based data exchange around physical goods which are exchanged based on provenance. More on this is in the pipeline in the coming year including consumption of #MARKs based data streams from large deployments of data transmitting devices (Internet of Things or IoT). One of the key takeaways from our ongoing work with #MARK Studio is about making it rapidly deployed in on-premises scenarios. In the coming months, we have planned go-live instances where #MARK Studio would also be on-premises based on a business need.
2021 has also been the year when digital credentials became the topic of mainstream conversation. Across the world, there have been a burgeoning number of interactions about the correct way to do digital credentials – using open standards-based approaches; handling the unintended consequences of technology and more importantly – is focused on ensuring that rights are safeguarded. We have worked within consortia based approaches like the Linux Foundation Public Health, Good Health Pass Collaborative and Trust over IP Foundation to discuss, debate and create recommendations that have been well received and adopted.
Blockchains and Current Trends
This year the trade press has been examining the trends of a number of cryptocurrencies and attempting to predict the stance being taken by various central bank stakeholders. However, for us, the interesting trend has been the market making enabled through Non Fungible Tokens (NFTs). Specifically, how NFTs have created a large spike in the content creation ecosystem. The technical underpinnings which influence this growth include the decentralization of infrastructure. And this decentralisation is not just the ledger but the storage for content. We see this commodification and utility-oriented design pattern providing enough economic incentive to create a vibrant partner-based ecosystem. The token design for utility is an exciting space – both for innovative macroeconomics as well as designing sustainable communities with a long term vision for the digital public good.
What The Future Holds
We have some exciting news in store early next year about public network utility being made available to partners and consumers. We see this as our commitment to incubating the community responsible for a trust-based ecosystem. Enabling the governance framework to complement an incentive structure that sustains the blockchain and stimulates adoption. We see a number of DLT based ecosystems being created and this indicates a promising trend. A steadily growing market looking for mature, resilient technologies enabling large scale management of trust in digital transactions is how the future looks to us. And we are focused on building the tools which help communities get online on digital platforms and strengthen the trust between participants.
It is Day 1 again.