Modex unveils one of its most ambitious projects, the Interoperability Suite (IS), a future software platform built on top of the Blockchain Database (BCDB) solution that aims to address one of the most difficult aspects of data sharing between two organizations – the interoperability of software and database systems. By streamlining the interoperability between software applications and the database engines behind them, Modex aims to propose a new data-sharing ecosystem that removes all the traditional barriers associated with data transfers in a multi-stakeholder ecosystem delivering benefits like accessibility, privacy, cost-cutting, and high-speed transfers.
Data sharing operations between different organizations have long been regarded as a cumbersome and impractical process, regardless if we are talking about the private or public sector. Contrary to the popular belief, digitalization does not automatically translate to standardization. As a matter of fact, it has added another layer of complexity to data sharing between one or multiple parties. This is because most of the time, the parties involved in the process can utilize distinct technologies that serve the business logic of the company that implements it, but is incompatible with external systems. In this context, automatic data sharing is difficult to implement without altering existing system configurations.
Another pressing aspect is the fact that most organizations are still reluctant to share their data with third parties they do not fully trust. Furthermore, creating a technology ecosystem capable of supporting fast, secure, and efficient data sharing operations demands a high level of technical expertise, including a considerable amount of financial resources to cover the development costs.
Modex provides an innovative solution that can help multiple entities collaborate and easily share data in a manner that provides great benefits for every party involved. By leveraging its blockchain component, Modex can help companies set up an ecosystem where data can propagate between multiple entities in a secure, efficient, and transparent way. The primary benefit brought by the Modex technology is the fact that system participants aren’t required to make major changes to their existing infrastructure.
For systems users, work proceeds as usual with the same software applications and databases. Another sizable benefit is the fact that Modex facilitates the integration of its blockchain component into existing data management systems, without requiring companies to lock a sizable amount of funds and resources in developing the new infrastructure. The integration with the Modex technology is a gradual process that opens up a new venue of benefits like, enhanced security, streamlined auditing processes, all while guaranteeing full compliance with data protection regulations.
What is the Modex Interoperability Suite?
Modex Interoperability Suite (IS) is a software platform designed to facilitate fast and secure data sharing between multiple distinct organizations that rely on different data management systems. First of all, Modex IS takes a non-invasive approach when integrating with the software applications and databases used by each party involved in the system. As such, this technological layer can be seamlessly implemented into existing systems and workflows without requiring any system downtime.
Through Modex IS, organizations will effortlessly set up an ecosystem where trust in data is guaranteed through complex technology. The sensitive data owned by the participants of the newly created ecosystem is stored securely and updated in real-time, making data sharing between members a user-friendly operation devoid of any additional complications.
A powerful advantage of Modex Interoperability Suite is its short deployment time. Implementation does not require any modifications to the clients’ existing code. This does however raise an important point. Participants must keep in mind that the blockchain-enabled features of Modex IS will only apply to the data shared by members on the BCDB network.
Modex Interoperability Suite Components
Modex Agent – a software component that gets installed on each organization’s server, regardless if it is on-prem or on the cloud. From a functionality standpoint, the Modex Agent is designed to permanently monitor the database and to continuously record the data selected by the client in the BCDB platform, where it can be accessed by other members of the ecosystem based on the permissions received from the data owner.
Modex BCDB – a separate platform that acts similar to a data vault that receives data from every Modex Agent installed on client servers, according to predetermined sharing conditions. Data can be accessed in the BCDB platform only based on specific permissions granted by its owner. Permissions can be granted and retracted at any time.
Modex App – a web interface that enables authorized users from organizations that are system members to view their data in the BCDB platform, to request access to other members’ data, or grant permission to their own data to other members from the ecosystem.
How it works – customized by the client
Modex IS operates parallel to participating organization’s central systems, allowing each member to store relevant business data in an encrypted format which can be shared between ecosystem members through a permission-based decryption mechanism that can be granted only to authorized users.
In a classical flow scheme, a company’s system is composed of a front-end interface that collects and displays information in a readable format, the application server responsible for handling the business logic and the processing of information, and the database engine that stores all the data.
Modex IS intervenes in the traditional workflow by installing a middleware component between a company’s server and database, the Modex Agent, which is designed to collect all the relevant information based on predetermined rules and configurations and send them to the Modex BCDB network.
When joining the ecosystem, companies are required to set up their accounts in the Modex App, where they also configure data synchronization and encryption policies for the Modex BCDB network, including an extensive set of access rules for other authorized users.
Modex IS Features – empowering the data owner
Complete Data Ownership – companies that store their data on the BCDB platform are in complete control and the indisputable owners of the data they add into the platform. As such, they can decide who, when, and how their data can be accessed within the ecosystem.
Customized permissions – each member organization is linked to an authorized user account. Through the user account interface, companies store data, configure preferences, and request access to the data owned by other members of the ecosystem based on their permission. After permission has been granted by the data owner, the authorized user can decrypt the data permanently or for a limited time frame.
Data integrity and immutability – when a data set is recorded in the blockchain component, it cannot be tampered with by any party without alerting all the other members, regardless of the permission levels they may have.
Monitoring – when confirming a request for accessing another party’s stored data, the data owner can track all the logs generated by the user who was granted access.
Modex IS Functionalities – a new state of data
Data integrity check – data shared in the Modex IS ecosystem is stored both in the blockchain component of Modex BCDB but also directly in the organization’s database. Modex Interoperability Suite was designed with a data integrity mechanism that helps guarantee the integrity of BCDB records while synchronizing them with the database records. If the records stored in the blockchain component differ from the ones stored on the database, it means the data was subjected to unauthorized changes.
Data recovery – blockchain is an append-only technology, which means that data cannot be deleted like in traditional database systems. Because Modex IS relies on a blockchain component, data inserted by organizations cannot be deleted or lost. As such, the platform acts as a permanent back-up mechanism where lost information can be restored to the company’s central databases.
Non-invasive integration – Modex IS acts as a parallel system, separated from the database engine and application server the company is already using. This means that there are no bottlenecks associated with the integration process and no period of downtime.
Data encryption– depending on the configuration preferences, data stored in the BCDB layer can be in an encrypted format or in cleartext. The encryption mechanism embedded in the system facilitates the full encryption of every record or the partial encryption of a data record at the field level.
System agnostic – the system is designed to be agnostic from a database and blockchain perspective which means that companies can choose what components best suit their needs. A major benefit that stems from the system-agnostic design feature is that it enables the conversion of a complex multi-database set of disaggregated data stored and owned by different entities into a single cohesive program that does not require data owners to alter their existing systems.
Decentralization – Modex IS operates as a separate data vault that complements existing systems, making them tolerant to a wide range of cybersecurity threats such as ransomware. Furthermore, Modex IS facilitates faster data reconciliation between authorized users because they are no longer required to curate information from their main systems.
Modex IS benefits – remodeling trust in data ownership
Due to its extensive list of features and functionalities, the Modex IS unlocks a plethora of benefits that target not only the stakeholders in the system but also their customers and partners. Also, Modex IS addresses to low-code or no-code clients.
Benefits for stakeholders
Fast access to relevant data – Modex IS acts as a common data vault shared between different organizations and companies. Guaranteeing data interoperability revolutionizes the way companies cooperate and share data for the benefit of their industries. By acting on a common technological background, the time required for data sharing operations will be significantly reduced because data will always be available to all participants if the owner grants access permission.
Secure storage and data sharing – Modex IS gives access to a blockchain component that sets the foundation for a highly secure ecosystem for storing and sharing data. Security is further reinforced by the complex layer of encryption provided by the platform. Data cannot be retroactively modified by any participant.
Improved accuracy – Modex IS removes the need to manually enter data into a shared ledger or exchange information through methods susceptible to human error (email, screen sharing, etc.). It also simplifies read operations because companies share a standard format.
Efficient data reconciliation – as an agnostic solution that integrates multiple database solutions and software applications into one single source of truth, Modex IS forwards an enhanced flow of information, transparency, and trust. Overall, these features streamline operations for each member organization and its clients and partners.
Benefits for customers and partners
Improved data privacy – storing customers’ and partners’ sensitive data in fragmented data management systems across a long period of time raises a series of red flags concerning privacy breaches as well as difficulties pertaining to accessing a complete historical record of the data. Modex IS challenges the established dogma concerning data management mechanisms by promoting a new type of interoperable network secured by blockchain technology. The myriad technological layers behind Modex IS come together to form an ecosystem in which customer trust is guaranteed and secured through technology. Information is shared only when deemed necessary by its owner.
Better customer experience – access to an interoperable data system significantly enhances the experience of end-customers and partners. In this context, interoperability means each organizations’ employees can focus more on providing quality customer-oriented services, as they will no longer be burdened with obtaining the customer’s data from other companies, public institutions, service providers, or any other third party organization.