NXTER.ORG

DeBuNe – a Decentralised Business Network on the move

NXTER.ORG’s RubenBc interviews Roberto Capodieci, who is the CEO of DeBuNe (Decentralised Business Network) and OTDocs.com (Open Trade Docs) and also the Founder of TheSoundKey.com + Go.Notifile.me.

Roberto has extensive experience in the IT and business sectors. At age 10 he developed and sold his first video game, began his IT entrepreneurial career when still in his teens and at 20 years’ old was running an office of almost 40 developers and software engineers.

On January 16, 2015, he announced DeBuNe in Nxtforum and 10 days later began a successful fundraising campaign.

Roberto sees himself as a farmer with a seed in his hand (DeBuNe), a good fertile field to plant it in (Nxt) and needing only some more water (investors) to be sure of a bumper harvest.

RubenBc: Roberto, I’m delighted to be speaking with you and look forward to learning about the technology that you’re presenting to us. First of all: What is DeBuNe?

Roberto: Thanks Ruben –  it’s great to be chatting with you. Basically, DeBuNe was born with the aim of decentralising business processes. More specifically, putting business processes on the blockchain, delegating the execution of pre-agreed decisions to smart contracts and phasing transactions. DeBuNe therefore enables entrepreneurs to put the administrative aspects of their business relationships on auto-pilot. This of course means they can then focus much more on the aspects of their work that require their key skills.

RubenBc: What types of project are currently running on the DeBuNe platform?

Roberto: Before having the chance to become a service open to everyone, DeBuNe has become a technological foundation for other projects of our own. We’ve been using it as a platform to implement some of our other technological solutions:

For example, OTDocs. This was the first project to use DeBuNe decentralised business process solutions to help manage documentation in international trade finance. We’re currently working on proof of concept pilot projects with several banks in Singapore and Australia.

Another of our projects is TheSoundKey; this is a small hardware device you can use to digitally sign blockchain transactions while making sure your digital identity is absolutely secure at all times.

Last, but not least, our latest project – my favorite and for sure the best – but it’s still top secret! One of the four versions of this project, http://go.notifile.me, will run on the Nxt blockchain, and will hopefully help to keep Nxt alive!

RubenBc: Do you require a new financing round? If so, will you be making use of the Nxt platform to raise the finance?

Roberto: The short answers are: not yet and yes I expect we will be doing so but only when the time is right. Nxt of course is not only a platform, it’s also a community and it was the amazing enthusiasm and support of the Nxt community that gave me, and the rest of the team, the courage to drop everything else and focus 100% on DeBuNe and collateral projects. The funds which we raised initially represent less than 10% of what we ourselves have invested so far.

The income generated by the DeBuNe projects is distributed according to asset ownership which in practice means that approximately 25% is distributed, as revenue share, via the Nxt platform, to the individual asset holders and the rest is retained by DeBuNe to cover the running costs. This is why DeBuNe will never put up for sale in the market more than 50% of the total amount of assets.

To support our efforts we have started offering consulting on blockchain projects, and implemented a couple of solutions. We are now hoping with our most recent (and still top secret) project to generate some fast income, and at the same time we are closing some paid pilot projects with some banks in Singapore.

We haven’t yet accepted any seed fundings with our startups because, before we sell any equity to investors, we want the companies to be worth as much as possible. In this way we’ll be able to raise the necessary finance without having to give away too much share capital.

RubenBc: I’ve read some of your articles, blockchain technology clearly fascinates you and specifically the Nxt blockchain…. How do you think DeBuNe can change the way a business is run?

Roberto: Through data decentralisation, combined with the use of digital signatures and thus identities, secure “timestamping” of transactions, non-repudiation, and pre-programmable actions. These are all key aspects of how DeBuNe can prevent business processes from being manipulated by any third party.

Two other things are needed. First, a reputation management system that lets everyone know how much trust they can place on a user via his digital identity (i.e. their public key on the blockchain with which they sign all their digital transactions). Second, coupled with that, a good decentralised KYC system which ties a person’s or company’s real identity to their digital identity. Together these two things will empower people and companies all around the world to do business with each other, regardless of where they are located, or what prejudices other people may have of them or indeed they may have about other people.

RubenBc: What Nxt features are you using?

Roberto: We pretty much only use the messaging system and sometimes the Alias System. We may consider the use of Phased Transactions.

RubenBc: We have started 2016 with a remarkable increase of confidence in the crypto ecosystem thanks in part to the prospect of another large crisis in the financial markets. What will happen with DeBuNe during 2016?

Roberto: DeBuNe will take time to release a finished product, due to several legal and practical (funding) reasons, but it has opened the doors to the means to get there. DeBuNe sub products will see the light of day this year, and I am very confident that they will succeed!

RubenBc: Do you think that the growth of Nxt’s adoption and other cryptocurrencies will be constant, progressive or will there be an event which will make it grow exponentially?

Roberto: As with any new technology there is a huge need for education in order to gain adoption. At the moment though, the “blockchain” is just a buzz word and every financial institution thinks it needs to have a project involving one, even if in most cases they have not much idea of what it means. And, at the other end of the supply chain – the end users – don’t even know what they are using.

I recently overheard someone expressing his surprise that to use Facebook he needed an Internet connection: to him Facebook was an application on his phone, and had nothing to do with the Internet. It will therefore very likely take a few years before this person understands crypto platforms!

Roberto Capodieci: https://sg.linkedin.com/in/debune
The DeBuNe whitepaper: http://debune.org/DeBuNe.pdf

Read more about Roberto Capodieci and his background + blockchain visions in the The First Nxt Book (to be published in late February/early March 2016). 

The Sound Key – helping you stay financially sound!

Whatever method of storing and transferring monetary value you use (cash and cheques; digital fiat money or cryptocurrency) there will always be someone trying to steal from you. How to stop them succeeding is a constant battle and each technology has its particular inherent vulnerability or vulnerabilities.

In the case of cryptocurrency, or more specifically the blockchain technology on which it is based, one such vulnerability has, until now, been how the “private key” is stored.

The private (or secret) key is a sort of password that is used to digitally sign transactions that are then entered onto the blockchain. If a private key gets stolen, the thief can sign on behalf of the original owner and post irreversible transactions in the blockchain in his own favour.

No matter how securely you store your private key on your computer or smartphone, it always has to be exposed in the device’s memory when it’s used (to digitally sign something). That’s the inherent vulnerability and it just takes a virus with some malware or spyware to sniff the memory at the right moment, and the damage is done.

This is where the Sound Key comes in. It is a device, very similar to banks’ OTP devices, to store your private key outside your computer or smartphone’s memory, and to digitally sign documents or blockchain transactions offline and therefore safely.

How the Sound Key works:

  • The Sound Key connects to computers or cellphones through the headset port.
  • The transaction data, as yet unsigned, are sent to the Sound Key via the audio port on your computer or smartphone.
  • Having verified that the unsigned data in the Sound Key display is correct, type your password in the device to safely digitally sign the transaction.
  • That’s it. Your transaction is signed, sealed, and ready to be delivered.
  • The Sound Key will then transmit the signature back to your device through the audio or speaker port.
  • At no stage does your secret key ever leave its safe place inside the Sound Key.

It’s anticipated that within a few years this kind of device will become widespread and popularly regarded as a necessity.

The Sound Key is currently a prototype, and we want to bring you the best of what it can do. We are therefore working not only on the device itself, but also on the accompanying software development kit, to be backed by good customer support, so that innovators and users alike can benefit from it as much as possible.

10 Reasons to support the Sound Key:

  • It’s the first device of its kind.
  • It’s backed by private investors, so even if we don’t reach our pre-order goal, you will get your Sound Key when we start shipping.
  • You can brand it with your own logo thanks to our whitebox option (minimum order applies).
  • It comes with a development kit, to integrate its features into any app and website!
  • It can be used with any cryptocurrency and other digital signatures (more signature algorithms will be implemented with time).
  • It can encrypt and decrypt any kind of data (size limit applies based on model).
  • It keeps your private key physically out of reach of malicious programs and people, as it NEVER leaves the device (the signature and encryption/decryption take place IN the device).
  • The top model of the Sound Key can encrypt voice messages, without supplementary software, to be decrypted by a specific public key, and thanks to the audio connections, the encrypted messages can be sent via email, IM, or other apps.
  • It can be used to identify users on websites or over the phone.
  • Oh, and it talks 🙂

If you want to see this idea come to life, come and give us a hand with our crowdfunding campaign.

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You can learn more about the Sound Key project at: www.TheSoundKey.com.

And here!

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