Tierion is introducing a universal data verification platform, which operates on a huge scale. First launched in 2015, and many businesses have used their technology since then and many of their customers create millions of monthly proofs. Notably, Microsoft and Philips are two of several high profile companies that have partnered with Tierion.
Businesses notarize and protect vital documents, like contracts and property titles, to allow their authenticity to be proven. Organizations in the financial, healthcare and insurance industries have to safeguard large quantities of important data. At the moment, verifying the authenticity of information within these sectors is costly, inconvenient and, in some instances, impossible.
Tierion tackles this issue using a technology known as Chainpoint, which enables people to prove when information was produced, and if any modifications were made to it after its creation. The TNT (Tierion Network Token) secures the network’s infrastructure with a financial incentive, and gives users a way of accessing network resources.
Following nearly two years of research, Chainpoint has been updated to version 3.0. They will carry on enhancing its services by launching the Tierion Network, which marks the company’s transition from an SaaS business to a global distributed network.
Tierion – Verifying and Auditing Data On The Blockchain
Tierion functions by generating proofs, which connect information to transactions on a blockchain using a method known as ‘anchoring’. People who have these proofs can verify the information’s timestamp and veracity, without depending on a third party authority. This anchoring method can be used on the Ethereum and Bitcoin blockchains.
Tierion facilitates the data collection process from mobile and web applications. Users just have to set up a datastore, then send Tierion information through the HTML or REST API forms provided. For each record, Tierion will generate a Chainpoint proof automatically. This can be used to show that information was gathered at a particular time, and has not been modified.
The web based service Zapier allows Tierion to link to more than 500 Internet services, like Mailchimp, Salesforce, Slack, Gmail and Google Sheets, to name but a few. Users can gather information with Tierion, then send this to other apps. Alternatively, they can send information to Tierion from their other apps using Zapier.
Tierion Raised $25,354,187.94 in Their August 2017 ICO
In August 2017, Tierion held its token sale and managed to attract a wide audience to support its network. The number of purchasers exceeded 5,500. The total amount raised was $25,354,187.94, and the per TNT price was $0.072440536.
The sale itself ran seamlessly for most customers. After the sale opened, thousands of people signed up for an invitation code, then entered the queue – which was processed by the system efficiently. Overall, the sale lasted for just over one day.
Tierion surveyed everyone who took part in their token sale. More than ninety percent of respondents said that the company’s token sale website was user friendly. Almost ninety-four percent of purchasers reported that the token sale website information was clearly presented. Over eighty-eight percent of respondents expressed an interest in operating a Tierion Node.
Big News: Tierion’s Partnership With Microsoft
Tierion and Microsoft partnered together in January of 2017 to provide a service that connects the blockchain to information in order to verify the information’s existence and integrity. The decentralized identity technology from Microsoft will used to create attestations that are verifiable, without depending on a third party authority.
This joint venture should boost the longevity of the Tierion project, because the company will acquire many new customers. Currently, numerous enterprise customers are taking part in pilot schemes to verify the integrity of information to regulators. This will create a fixed audit record of business processes.
Moreover, this project has good potential to assist organizations with enhancing security and reducing compliance expenses. The Microsoft partnership allows Tierion to connect the blockchain to its existing systems, rather than constructing its own blockchain.
This is another crucial step in providing superior blockchain based services and tools to developers.
What’s Next for Tierion?
The Tierion Network was launched on September 17, 2017. Since then, the company has been gathering information, evaluating the network performance and tweaking the infrastructure. Within one day of the launch, more than 1,000 Chainpoint nodes were operational. This rapidly increased to more than 10,000 active nodes, surpassing even the most optimistic expectations.
In all likelihood, this launch phase will carry on for a few weeks. Throughout that time, the company will make regular software updates as required. No customers will be migrated to the company’s network until this launch phase is over.
Meet the Tierion Team
The core team consists of four members, all of whom have relevant software development experience.
Wayne Vaughan – Founder, CEO
Wayne Vaughan set up an online agency over twenty years ago, and produced an SaaS advertising automation platform – which was a groundbreaking achievement at the time.
His experience in product design and software development, over the past two decades, has been instrumental in Tierion’s success. Wayne is also a serving member of the Blockchain Capital Advisory Board. He studied at Savannah College of Art and Design.
Jason Bukowski – Founder, Lead Developer
Jason Bukowski has been developing scalable software for more than two decades. He spent ten years creating advertising automation software, and constructed a real time web analytics system – before they were widely used.
Jason is Chainpoint’s lead developer, and performs a similar role in numerous well known crypto open source libraries. He graduated in Computer Science from Central Connecticut State University.
Glenn Rempe – VP of Engineering
Glenn Rempe is the principle architect at Tierion. He worked for Accenture for more than ten years, where he directed teams of engineers for Symantec, eBay, Hewlett Packard and Electronic Arts. Glenn manages multiple cryptography and security centered open source projects. He graduated in Political Science from the University of Arizona.
Eder Santana – Developer and AI Research
Eder Santana authored the book Deep Learning With Python (to be published 2018), and has a Machine Learning PhD. As one of the country’s top AI developers, he has helped to design driverless vehicles at Apple and Comma.ai. Eder contributes to Chainpoint regularly, and is involved with an AI stealth mode blockchain project.
Should you Invest in Tierion? Buying and Selling $TNT
Investors could be drawn to Tierion for a number of reasons. The company has been in business for a couple of years, with a proven product that has undergone its third update, and it has formed partnerships with large corporations. Therefore, an investment in their token might be a lower risk proposition, compared to companies with a shorter history. Also, the TNT token sale finished quite recently, in the summer of 2017. After the token enters more exchanges, such as Bittrex, its value should increase as it will be accessible to more investors.
Many organizations use Tierion’s services, which proves that their product offers a helpful service to its customers. There are many industries where the company’s technology can be utilized which is great for diversification. Also, in light of their present market cap of $32,282,917 (at the time of this writing), there is significant growth potential.
Small cap companies, with a market value of under $30 million, usually serve emerging sectors and can provide handsome returns to investors, who take a long term perspective.
Their management team is intelligent, realistic and active in their community. The company is financed by numerous cryptocurrency investment funds, so it has strong links with other industry players. Company advisors include Zaki Manian (Skuchain cofounder), William Mougayar (Openbazaar and Ethereum Foundation board member), Shawn Wilkinson (Storj CTO and Founder) and Ryan Shea (Blockstack CEO).
How To Join the Tierion Community
Investors are advised to follow Tierion on social media to stay on top of its announcements and news. The company is active online, with thousands of members in its Telegram channel alone. Here are the company’s social media profile links:
- Facebook: https://www.facebook.com/TierionInc/
- Twitter: https://twitter.com/tierion
- Medium: https://medium.com/tierion
- Reddit: https://www.reddit.com/r/tierion/
- Telegram: https://t.me/tierion
A Noble Investment? What Do We Think?
Tierion gives us plenty of reasons for optimism. Blockchain-based tech companies rarely manage to form partnerships with companies as big as Philips and Microsoft. Also, the company has a first class team, as evidenced by the Consensus Hackathon that Tierion sponsored in 2016.
Auditing and verifying information is vital in many industries, and because Tierion has been serving thousands of users for a couple of years now, it seems likely that the company will continue to succeed.
