Fourth Pillar (short for 4thtech) has had an exceptionally busy year. We at The Daily Chain have kept up with the company and its journey to bring blockchain technology to corporate and private industry. Blockchain infrastructure projects may not seem as tantalizing as Bitcoin but it is nonetheless a necessity as decentralized ledger technologies become more widespread. Today we are bringing the first of two articles to recap their accomplishments and explore their future plans.
In the Beginning
In 2017 4thtech created a new way to securely send documents. They later developed the technology to interface with a blockchain wallet to the identity of a person. This laid the foundation for their new eDelivery service.
FOURdx – Blockchain eDelivery Protocol
eDelivery helps public entities share documents with other administrators, businesses, and citizens. These documents may include invoices, meeting minutes, and other important data. Blockchain eDelivery has many advantages of traditional ones. The previous version of eDelivery relied on a central authority which increased the vulnerability of an attack. Instead of relying solely on trust, a blockchain system uses a decentralized network to secure documents exchanged.
For its use cases, Fourth Pillars eDelivery system is useful in streamlining a company’s paperwork system, eliminating copying, scanning, and hand-delivery of documents. Sending documents through the FOURdx system saves users both valuable time and money.
FOURid – Digital Identity Mechanism
Blockchain eDelivery identity mechanism, FOURid, derives as a direct result of the existing blockchain eDelivery protocol, FOURdx. The identity mechanism is capable of individual wallet address verification from the authorized third party, i.e. employer, state, motor vehicle licencing department, etc. A link is created between an individual (or organization) and their wallet, which holds the content and digital assets.
4thtech Add On – Google Chrome Extension
4th Pillar’s newest addition is their Google Chrome extension. This browser plugin lets users tap into the distributed web by managing digital assets in their wallet. The app links to encrypted data and documents giving the user full control over them, instead of letting them sit in the cloud. This allows users to manage digital identities and electronically sign eDelivery documents within a browser, a fist of its kind. Deploying this in a corporate setting can easily integrate the eDelivery system. The 4thtech chrome extension is currently deployed on Ethereum and SI-Chain.
With these innovations, 4thtech seems well on its way to facilitating the adoption of new blockchain standards. Other blockchain companies might be satisfied with one new product but Fourth Pillar is not resting on its laurels. Next time we will explore the additional advances it has had in 2020 and delve into its international recognition.
*FOUR are our Media Partners and this content has been created in collaboration with them. The Daily Chain encourages you to carry out your own research before you make any form of investment and educate yourself about how to stay safe in the crypto space.
