3 Real-World Problems Only Geeq Can Solve

By: Geeq  on Feb 27, 2023

Geeq takes a unique approach to blockchain that is designed to make it quick and easy to prove the reliability of data, while avoiding smart contracts. But what does this mean in practice? These three use cases illustrate Geeq’s power. 

The largest blockchain networks currently offer great flexibility. Through relatively rudimentary data structures coupled with smart contracts, developers can create tools for a wide variety of use cases. However, this approach involves trade-offs. 

Smart contracts introduce a lot of complexity into Web3 systems, which leads to security risks, and makes it more difficult to establish generic, consistent and verifiable datasets that can be linked with existing enterprise software and data systems. 

Geeq takes a different approach. By using a richer underlying data system and avoiding smart contracts, Geeq excels at tasks like verifying the reliability of data and proving the chain of custody of documents and information. That means we’re better at delivering the crucial value added that blockchain can offer. In addition, thanks to more contextual information and optional metadata, it is a lot easier to integrate with existing Web2 data systems – meaning we’ve done away with a barrier to adoption. Here are three examples of what Geeq can do in the real world. 

1. Data reliability without the pain

It’s a safe bet that any large corporation will have a large data headache. With databases going back decades and new information flooding in from all sides, it rapidly becomes impossible to find exactly what you need, and to be sure that it is correct and up to date. When different departments need to collaborate, or outside partners are involved, it gets even more complicated. But sorting out the mess normally requires an extensive, and expensive, enterprise data integration project. Many organizations may need faster results, at lower cost, especially given the drag involved in trying to win approval for such a large commitment.   

This is where Geeq Data shines. We provide a stand-alone data layer that validates transactions seamlessly from any permissioned source. Enterprises may use our APIs to construct their version of a Geeq Data explorer. A block explorer is crucial for visibility into your blockchain data.  Geeq Data’s attestation service comes equipped to introduce metadata so it will display search results related to a query that feels natural to users.

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The blockchains may exist in servers outside your firewall – or inside if that is more convenient for you. It is your choice either way.  For a private blockchain, Geeq’s protocol filters out data sent from unauthorized users, so a non-permissioned source cannot corrupt the data.

Finally, unlike smart contract networks that charge transaction fees any time you process data, Geeq places the focus on-chain validation and off-chain processing. This provides robust guarantees on the validity of data while greatly reducing cost and minimizing disruption to existing workflows.

2. Provable provenance

On paper, the logistics sector is an ideal use case for blockchain; supply chains form complex networks of dependencies with multiple disparate parties and a low level of trust. And yet, so far, efforts to introduce blockchain solutions tend to get stuck at the proof-of-concept stage. The most prominent of these, the TradeLens platform backed by IBM and Maersk, was retired in November with the companies saying it had failed to win traction in an industry slow to adopt new technologies. 

Given these challenges, why should we succeed? Because Geeq doesn’t require big changes. Instead, we deliver big benefits, with very little effort or investment required from the user. Geeq’s unique enterprise NFT solution offers a way to track goods through the entire supply chain: transparently, securely, inexpensively, and with the same easy discoverability provided by Geeq Data. The tracked item is digitally represented as a unique, transferable token that gets passed along the chain together with the goods themselves, providing an intuitive and immutable record of the chain of custody. One of the great benefits of the Geeq NFT is that it can decouple the transfer of ownership from the physical transfer, speeding up business processes by knowing who has the legal power to negotiate with whom. 

That’s the second part of our 2-in-1 NFT innovation: on-chain ownership is directly connected to legally recognized property rights, providing real-world certainty with digital convenience. It’s inexpensive, simple, and extremely useful.

3. Transparency in AI training 

As machine learning grows in importance and impact, we expect to see increasing pressure on companies to “show their work” – in the form of publicly documenting the data sets their AI is trained on. Both regulators and customers will expect accountability, and we are ready to help.

Our collaboration with Rowbot is a great example. Rowbot’s enterprise data platform incorporates machine learning analytics that can generate powerful business benefits. With the integration of Geeq Data, this means users can access their data, leverage AI for insights and document the training set internally, with indisputable proof ready if they are later required to share their results externally, all on one no-code platform. 

Curious? Our CEO Stephanie So discussed this and other use cases with Rowbot CEO Matt Linton; you can view the conversation here

Thanks for reading! And please share this article with anyone who would like a quick overview of Geeq, or just get in touch if you or your business would like to benefit from our solution.

– The Geeq Team