Everyone becomes its own 'miner' in Woobe.
Every sender adds their documents' cryptographic artifacts to an irrevocable and ever growing chain of time. And because Woobe is able to provide Things with a true identity, every software agent or robot in the IoT (Internet of Things) can too become a miner and contribute "docs" of their own activities to the chain. And do remind: Woobe features mandates. Thus we can qualify the agent or robot with the one moral or physical person responsible for the Thing's activities - a legal requirement! can you sue a software or robot?
what Commerce needs | what Blockchain features | what Woobe provides |
"A permanent, |
"blocks" chain | "docs" chain |
verifiable, |
public data / public check | private data / public check |
confidential, |
public | private |
legal, |
arbitrary | supranational |
record |
general ledger | general ledger |
of agreed terms |
unilateral | consent |
and transactions |
smart contracts | smart contracts |
at precise times |
granular (blocks) | continuous |
with strong identification |
self declared | formally enrolled |
of qualified |
neutral | functions & mandates |
parties, |
anonymous | identified |
protected |
proof of work | per doc: must hack private keys of all signatories + their communities ! |
against any alteration |
Merkle tree | |
and loss, |
blockchain replication | per doc: must destroy min 6 copies at min 4 ≠ parties |
with no useless expense." |
power consumption | just right |
To summarize,
traders need a general ledger, one that can be opposed to third parties; we mean, a trace of transactions that one can use to prove an agreement or activity and defend its rights in front of a judge or other stakeholder. A proof that one cannot build by himself of course, neither alter nor erase, indeed something that is formally recorded and time-stamped outside of any influence from the parties at stake.
No brainer, that is just the core feature of the Woobe system: a proof-making third party, "tiers probateur" in French. At least the frenzy around Blockchains drove more people to see the interest and legal requirement for a third party register of transactions that - this is the legal term - is opposable to third parties. But do understand: this does not imply that the register shall be public, neither that all participants shall be anonymous! Commerce requires just the opposite: i.e. private and identified, as listed in the above table.
For technicians,
the magical idea behind blockchains is the "proof of work": the means to build a fully distributed and rock-solid general ledger, ruling out hackers unless they can subdue minimum half of the total computing power building the distributed Merkle tree, a.k.a. the "block" "chain". But is that the only means to secure a general ledger? Is a fierce competition for computing zero-prefixed hash codes the only way to ensure that a distributed ledger will be protected from any burglary or hijacking? Woobe proposes an alternative where the unit is a document and security is built from the document owners (senders, recipients, signatories and their proxies) as well as the distributed document copies. Woobe is not based on a centralized document copy but centralized journal (e.g. cryptographic chain / Merkle tree) with distributed multi-encrypted copies: the tree secures the documents, the documents secure the tree. Precisely, every document copy (min 6) at distributed entities and places do secure every fragment of the tree, and the tree secures the timely existence of every document. A document records dematerialized consents (i.e. electronic signatures) on a contract, or a formal statement (e.g. ownership), or an activity. A document is always confidential and can only be opened by its owners (sender, signatory, recipient) and their proxies (formally mandated by the owners, or delegates of rights in a community).
Please, buy Bitcoins, Zcash, Ripple, Ether or any other of the 1600+ cryptocurrencies worth 350 billion USDs to swamp your excitement for blockchain technologies (and believe me, I share it, words of a miner!), and then rest a minute; think calmly, deeply, and legally...