Ellis McGrath's Contact Details

Ellis McGrath's Company Details

The Proof of Trust

London, ENG, UK • 20 - 49 Employees
Professional Services software

Proof of Trust's proprietary protocol stands to be the first-ever Insurance protocol for blockchain transactions and smart contracts. Its proprietary Proof of Trust (PoT) protocol enables real-world inputs to be validated by decentralized participants before settling smart contracts on any blockchain. PoT reduces the chance of an invalid contract executing from a hypothetical 1 in 20 to less than 1 in 1 billion. While many large enterprises are looking into blockchain systems, they are unable to utilize blockchain with the existing risk of settlement inaccuracy. In the analog world, contracts can be contested and corrected by humans (i.e., lawyers, banks), but smart contracts execute automatically based on whatever inputs they receive. If an incorrect input is submitted to a smart contract, it could have millions of dollars of consequences. A risk that major organizations cannot take. The Proof of Trust Protocol is the solution: It allows smart contract users to contest and confirm a determination by distributing verification to highly qualified delegates before being recorded irreversibly to the blockchain. Real world users participate in the network while incentive mechanisms ensure and reward delegates for providing trustworthy data.