A new blockchain platform with 2 layers

A next generation blockchain designed for real world transactions. Solving the Cryptocurrency Trust problems. Fast and Transparent.

Knowchain – The blockchain solution for closing the gap between the crypto world and the real world. We identify the lack of real world applications in the current blockchains and cryptocurrencies because of their anonymity. In real world, companies and customers are working on visible contracts with their identities certified to ensure each fulfil their obligations to each other as stipulated in contract governed by contract laws of a specific country agreed upon; employees use their real names and profiles to apply for job vacancies; patients use real information in hospitals and users use their real data to access applications. Because of that, there are still limitations in how blockchain can power the real life of people around the world.

In the crypto world, in the 1st generation blockchains; senders and receivers do not know much about one another except for the amount of cryptocurrency and the time that transaction is made: A send to B an amount equivalent to X BTC at time Y. That leads to the facts that 1st gen blockchains started powering the transactions in deep (& dark) web – the anonymity is guaranteed here.

However, currently there are major issues in connecting the crypto world with the real world: The nature of transactions in the crypto world is the anonymity but the transactions in real world need to be identified: from the identification of senders and receivers to the terms and
conditions of the transactions. In the real world, banks require their clients to provide full information about themselves when using their services. Then how do blockchains bring its advantages to the real world? Our answer here is KNOWCHAIN.

What is Knowchain?

Know blockchain enriches the transaction on blockchain by adding a second layer that can store “any other relevant data” pertaining to the information of the senders, the receivers and the transactions, from identifications of parties to the appendix attached into the transactions.
The additional information in the second layer helps the transaction on Knowchain to be as same as in real world. Let’s take an example to understand this: A can attach the encrypted identification of himself with the transaction to B where B have also to attach his encrypted
identification and follow M, N, P terms and conditions required by the smart contract C to be considered valid to get X Know from A. In real world, it is equivalent to (A) having to sign to the contract (C) with (B) with both (A) and (B) in the know of each other’s identity as well as
the contractual obligations entered into, where M, N, P terms and conditions in the contract (C) need to be fulfilled for the payment of (X Know) to be paid out.

Known chain vision

The vision of Know is to bring blockchain technology into daily life by building a new blockchain from ground up – A blockchain with transactions that is attached with people’s information. Through Knowchain, the real world and the blockchain world are connected
seamlessly by its users. Knowchain aims to connect the world through both the transactions as well as the information of users. The information that can be attached onto the blockchain can be Personal Information, Certification and Qualification, Work Projects, Medical Data, Financial Data, etc. Imagine a new world where people’s information are stored onto Knowchain securely, owned and managed by the users themselves: Users can establish Smart Contract with real names and information to attain legal conformity with whichever agreed upon legal system in whichever country; Hospitals can be connected and patients can be treated anywhere around the world without bringing or sending their Medical Data to the new hospitals; Companies can hire employees with Smart Contracts on Knowchain and thereafter, these employees can use these Smart Contracts to find a new workplace (new companies can query Knowchain and get information of the Smart Contracts); dApps can be built to attract users with real information.

Requirements

• Register here
• Verify your email and login
• Click on KYC and submit details
• Click on Bounty and begin to complete the tasks (This is a special bounty with high value. Do participate as you can and do not make it one off ONLY)
• Join the official telegram channel
• Join the telegram group

 Join our telegram channel  . Find out more about the project details by visiting this website