KUALA LUMPUR, MALAYSIA - Media OutReach - December 16, 2019 - QURAS Project Team (Information Security Management Service Provider, Hong Kong S.A.R) and Bona Trust Corporation (Trust and Corporate Service Provider, Federal Territory of Labuan, Malaysia) jointly developed beta version of fully anonymized file sharing software for Information Security Management.
This effort was the first in the world to produce a product that implement a fully anonymized smart contract. Both project teams are preparing for an update for the QURAS platform test net scheduled for January 2020.
https://youtu.be/-x7cbqvAKaQ (Quras Wallet | File Encryption and Delivery)
The cyber security crisis awareness and challenges for companies in the industrial field, financial sector and the governments, have rapidly increased, and caused an urgency for all organizations, to review their countermeasure policies in order to secure their organizations' network security.
Small and Medium Enterprises (SMEs) 's facing cyber security challenges are not able to afford the budget to hire specialists or spend a significant amount of cost on these initiatives when compared to large corporations and governments.
As a solution to the above, the technical teams of QURAS and Bona Trust Corporation have jointly developed a fully anonymized file sharing software by setting multiple authorized persons on a completely anonymized smart contract.
With fully anonymized file sharing software, SMEs can achieve extremely sensitive information management just with a small budget.
In addition, QURAS Gas (XQG) consumed as a budget is distributed to the wallet of all holders according to the number of possessions by staking every 18 seconds by holding QURAS coins (XQC).
https://youtu.be/It2wsldPekA (Quras Wallet | Smart Contact with Assets)
An overview of the specifications and features of this software is briefly described:-
1. Set up multiple approvers, pay QURAS gas (XQG), and upload the file to the blockchain (strictly speaking, "node").
2. When downloading the file, the download is completed by the approval (multi-signature) of multiple authorized persons.
The above is a very simple mechanism using smart contracts, but this may be easy to understand if we imagine multiple signers of bank transfer.
For example, the accounting department manages company funds and has a lot of funds incoming and outgoing every day. When performing this work, a mechanism is needed to prevent inadvertent input mistakes by the staff and to prevent erroneous remittance.
If multiple signing authorities are set at this time, the remittance process cannot be executed unless the person in charge in the accounting department confirms that the appropriate accounting process has been performed. Also, since multiple approval authority is required, even the person in charge cannot perform malicious operations alone.
Certainly, this mechanism can do the same with traditional blockchain with smart contracts. The existing smart contract can also specify the public range as a private chain, so the public content is protected within the specified range.
On the other hand, the characteristics of QURAS's private chain are significant from the viewpoint of privacy protection, in addition to the conventional function that allows specification of the scope of disclosure, as well as the fact that the entire scope of disclosure can be made anonymous. This is the essential difference between QURAS smart contract and existing one.
Therefore, when using the QURAS platform, it is possible to anonymize all data and prevent the leakage of unintended information.
In conclusion, anonymous technology includes "financial institutions" that handle remittance and confidential information, "administrative institutions" such as governments that handle large amounts of personal data, and "defense industry" that exchanges national secrets and military information. It will be indispensable in all industrial fields in the future.
This joint development was the result of an experiment that showed one effective solution for privacy protection, and it can be said that it has given great social significance to the history of the blockchain.
◇ Mr. Shigeki Kakutani - QURAS Project Team (Founder / CEO)
First of all, I would like to inform you the joint development with Bona Trust Corporation was successful. Mr. Yudai is my important friend, a seed stage investor in the QURAS project, and an Executive Advisor contributed greatly to project development management and strategy proposals.
What we always talk about again and again is "What is technology?" No matter how great a technology is developed, it has no meaning unless it is accepted by many people and used in the real world. QURAS is like an all-purpose kitchen knife when compared to cooking, and it has true intrinsic value for the first time by providing cooking (application of technology) that makes people happy. In other words, QURAS is essentially a platform, just a tool.
In that sense, the anonymized platform "QURAS" is finally a small building in the wilderness. Our current location is just one step away. From now on, many project teams and engineers will use the QURAS platform to create many products and open up the wilderness. Through this development, I was able to visualize the sight of a large city spreading in this cyberspace.
QURAS is a word born from the word meaning "Cure". Our origins were a project born out of the philosophy of completely anonymizing the privacy contained in medical charts and providing medical services similar to those used by home doctors to people undergoing medical examinations anywhere in the world.
This time, the development so far has bear fruit and has the potential to be used by actual financial institutions. We will proceed with development to get the production network up and running.
Telegram Group: https://t.me/QurasOfficialGroup
About Bona Trust Corporation
◇ Mr. Yudai Watanabe - Bona Trust Corporation (Founder / Managing Director), and QURAS Project Team (Executive Advisor)
This joint development was carried out as a part of our ISM (Information Security Management) project. As a result of this joint development, we have taken a major step towards protecting the privacy of client information through complete anonymization.
There is nothing perfect in the world. All theories are wrong if we say wrong, and correct if we say correct. Verifying the wrong and correctness of the theory is nothing more than verifying one's incomplete knowledge and ideals, that is, verifying oneself. The most important thing is to find some useful clues from there.
DLT (Blockchain) is extremely difficult to tamper with, and by implementing an anonymous smart contract that can only be viewed by the parties, it is possible to automatically execute from contract conclusion to contract condition confirmation / performance and ownership transfer procedure. Mainly, it can be expected to prevent the leakage of non-public company registration information, NDA (Non-Disclosure Agreement) etc. in financial institutions.
The era of being automatically executed on smart contracts (trustless society) will soon come, instead of existing trusted third parties. That is why I feel that financial institutions that use brokerage services with credit as collateral need to respond quickly to changes. Bona Trust Corporation will continue to develop as a trust venture in the Fintech field.
Finally, QURAS platform will be running a test net shortly. I think that having decided to test develop the product at this timing has great significance for the following developers.
The QURAS platform has many challenges for the main network scheduled for February 2020. For example, scalability issues, preparing a multilingual development environment, and stress testing for quantum tolerance etc. We need to re-balance and orbital adjustment with repeated updates again and again.
I can't wait to see what future QURAS will bring to us when these balance of encryption technologies working together is optimized and accepted as part of people's lives.
CIPHER TECONOLOGY LIMITED(QURAS Project management company)
Shigeki Kakutani (Director)
Nature of Business
Blockchain development, Cipher technology development, Anonymity smart contract service provider
Date of Incorporation
March 26, 2019
Unit 2302, 23/F, New World Tower 1, 18 Queen's Road Central, Central, Hong Kong S. A. R., China
Bona Trust Corporation
Yudai Watanabe (Director)
Nature of Business
Trust and Corporate Service
Date of Incorporation
October 17, 2018
Unit Level 9F(2), Main Office Tower, Financial Park Labuan, Jalan Merdeka, 87000 Federal Territory of Labuan, Malaysia