Josh McIver, Founder & CEO
During his days at Deloitte, Josh McIver, the CEO & founder of ULedger had noticed a lingering predicament snowballing into a massive headache for many organizations. “Auditing financial documents and IT environment was a time-consuming and expensive process, to begin with, and everyone struggled to keep it streamlined,” says McIver. His thoughts on creating an easy-to-use and operationalized auditing system turned into a substantial reality when McIver met Taulant Ramabaja who was then the CEO of Bitsapphire, a consulting and blockchain development company. They both came up with the idea of providing solutions for enterprises seeking upgradation to their IT infrastructure along with complete protection of data. A couple of intense idea exchanges and brainstorming sessions later, the duo founded ULedger in order to provide seamless and stateless blockchain protocols for IT infrastructure upgradation.
Over the course of next few years, ULedger developed a solution that enabled clients to create a permanent, independent, multi-party record of any type of data. Today, the company follows a unique methodology where each node maintains its own state and performs traffic certifications for other nodes. “We call it, ‘cross-merkelization’ that allows us to be highly scalable, and because of the event certification that takes place between nodes, there is no need to agree globally like other blockchains,” says McIver.
ULedger banks on its specialty toward assuring data integrity, especially since today’s enterprises are actively looking for ways in which external sources cannot manipulate their data. The company believes that every enterprise and government agency’s database should be underpinned by blockchain-based data integrity to make it trustworthy.
Our clients are notified of any change or displacement that takes place in their datasets and they can take necessary action swiftly
“We have a customer that helps South American countries comply with vat tax clauses. By using blockchain, they maintain a depository which is immutable, and facilitates the public and the government to view their data, enhancing their trustworthiness,” asserts McIver.
Similarly, a logistics company can employ the ULedger blockchain solution to keep track of and secure sensitive data points with real-time updates. The uniqueness of the company’s stateless blockchain protocol is that it integrates with the existing IT infrastructure through an open API, and can handle any file size and type, making it flexible across several applications for enterprises. ULedger is also adding machine learning technology on top of its blockchain solution in a way that can project and prevent a transaction fraud. In one instance, a company had to deal with several automated systems that scanned batches of its products to make mathematical decisions based on the scanned data. By using ULedger’s solution, the company already had a base layer of integrated data. Decisions based on mathematical calculations made by the machines are entirely viable, and if any discrepancies were discovered, they were mitigated promptly.
ULedger is a blockchain proponent, emphasizing on underpinning enterprise data logs with its technology and provides them a way to compare their original data logs on the centralized database. “We have seen a lot of interest in this product. Our clients are notified of any change or displacement that takes place in their datasets and they can take necessary action swiftly,” says McIver.
To stay ahead of the curve, ULedger is investing in R&D to improve its capabilities of navigating through the regulatory environment. ULedger is growing in business development by strengthening clients’ marketing and sales teams, making it easier for them to integrate and embrace the blockchain technology.