Investor Update #2
It has been a very busy and productive summer for the team at DocuChain.
Our persistent archive that records all interactions with the Chain of Custody can be either an encrypted centralized relational database or a distributed blockchain. Both are hosted in the cloud to ensure reliability, accessibility and scalability. 4Trust was developed on and is now hosted in the AWS cloud.
We have entered into confidential technical and commercial discussions with two specialists artefact fabricators who provide us with some new disruptive technologies and the ability to address industrial level opportunities in some of our high volume focus areas like: aerospace and government services.
These high-volume providers of integrated circuits see Chain of Custody as a key enabling technology for their new products. This positions us squarely in the IoT (internet of things) market, which is growing much faster than blockchain, as many industries see the addition of intelligence in all physical devices as key to quality assurance, supply chain visibility and regulatory certification.
Our focus is squarely on defence, energy, aerospace, transport, utilities, construction, mining and other sectors where business continuity is essential and operational performance must be verified in real time. We now have NDAs with over 10 global system integrators, global technology service providers and international audit firms. We have several paid pilot projects that will be launched before yearend under framework licence agreements.
DocuChain’s success depends on its channels, so our revenue model is by design weighted towards their requirements. Our licensing model leverages channels’ resources and trusted relationships to enable efficient scaling. 4Trust licensees generate multiple sources of revenue, with the price to channels incorporating discounts based on volumes, operational periods and other key criteria. Revenue sources include:
● Chain of Custody Licence – renewed annually
● CoC Installation – one-off
● Per User / Per Seat Licence – renewed annually
● Artefacts – dependent upon specification
● Authentications – Per Transaction as recorded in 4Trust immutable archive
We will be making an announcement shortly about our next Crowdcube round which will be focused upon:
● Product Development - a proprietary alternative to blockchain archiving based upon distributed, encrypted containers; release of Chain of Value (CoV, a natural complement to Chain of Custody); use of AI in acquiring and prioritising chain data.
● Channel Support – 4 full-time agile developers, business analysts.
● Facility – office space for our core technology team in the Birmingham area.
● IPR – extension of patent applications for CoC and an application for CoV.
Please keep up to date on our website. Lots of new information. Please feel free to engage with me through the Crowdcube site or DocuChain.co.uk