Supported Blockchains

What is blockchain technology

Blockchain is a software innovation for establishing digital trust between users facilitating transactions of value, over a network. The blockchain enables trust to be distributed throughout a network, without the need for a central intermediary to track, verify and approve the digital exchange of value.

The notion of authorizing trust from a central intermediary currently underpins both private and government institutional structures, however this is proving to be costly, slow, and vulnerable to attack.

The Trustless

A trustless system is one designed so that nobody must trust anybody else for the system to function. It makes it possible to trust the outputs of a system without trusting any actor within it. The blockchain overcomes these issues by operating as a decentralized distributed database, maintaining a continuously growing list of records called blocks. Although blockchain technology is still an emergent one, current applications show it can be better, more efficient and more secure than traditional systems, which is why banks and governments globally are beginning to experiment with it.

In the case of the GS Hubb, the platform provides an immutable, living and breathing digital ledger (or CV) of the Subject Matter Expert’s project delivery record that is permanently stamped and stored on the Blockchain. This removes the need for inaccurate, costly and time-consuming background and reference checks. This in turn provides a high degree of confidence in the Expert’s capabilities and the therefore the Client or Project Owner is satisfied that they are engaging the right talent at the best value for money.

Algorand