An open network for decentralised commerce
The CommerceBlock platform is a commerce ecosystem that lowers legal, administrative and transaction costs by leveraging smart contract technology. CommerceBlock reduces third party risk and secures transactions by using a public blockchain in combination with cryptographic technology which privately embeds auditable trade details and business logic into transactions. CommerceBlock has implemented a key derivation scheme that provably embeds data on the Bitcoin blockchain in a zero knowledge fashion. The advanced techniques privately secure and makes auditable the trade and finance details, ultimately allowing for a more reliable and automated trade flows to emerge. This negates the need to for private blockchains or unnecessary data storage on a blockchain and opens up public blockchains to use cases in finance that were not previously possible. The CBT tokens are based on Ethereum ERC20 and are designed to access and execute services on the CommerceBlock platform.