Blockchain provides a new tool for traceability information as well as solves the biggest problem in the traceability-trust problem and offers the public trust traceability ability pursuant to its characteristic of decentralization (avoiding an organization and an individual as main body and recording all the information on the “public account” in public).
Such problems as simple method of tracking and tracing and being easily tampered in the middle link are faced by the traditional traceability industry because the information can be tampered from a technical point of view due to the traditional clearing method with information only provided to one center, but all the information cannot be altered after being recorded on the Blockchain after the Blockchain comes out.
The Blockchain traceability has become one of the contested tracks by the big Internet companies. Due to the previous payment security problem occurring frequently and opaque transaction data and information, the authenticity of source and process data is very important. In recent years, the demand regarding the supervision of the transaction process and the transparency of the payment process has been increased in all walks of life. How to ensure data fidelity of payment transactions also becomes a major consideration.
As a decentralized business application platform based on Blockchain technology, GST (GSTCOIN) will provide the solution for payment transaction traceability. Based on Blockchain technology, GST integrate and write the information on both parties of the transaction (including transaction process, generation process, process of commodity circulation and sales process) into the Blockchain to effectively ensure the data authenticity to realize full process traceability. Once the untamable information is established, it means the unique identity of both parties of the payment transaction is confirmed and all tracks and records based on such identity are achieved.
The GST strategy refers to solving data source and data trust problems by its hardware equipment with machine language and then ensuring the data authenticity of the whole Blockchain based on the decentralized and immutability characteristics of the Blockchain. The GST design ensures the safety of payment transaction data in the process of acquisition, transmission, storage, and computation with stable and reliable technology platform provided for data transmission and value circulation on the digital transaction.
All GST systems are based on Blockchain as infrastructure, operate as per smart contract and ensure data authenticity of the whole Blockchain. The GST also provides infrastructure and comprehensive governance for privacy protection and cooperative computing of traceability payment data with technical advantages of the Blockchain-distributed storage, publicity, fairness, transparency, data traceability and immutability and can realize full flow of traceability data more simply, safely and efficiently. At the same time, the GST makes full use of Blockchain technologies-distributed data storage, point-to-point transmission and consensus mechanism to encrypt shared transaction information, complete the integration of application system and Blockchain platform in all walks of life and achieve the seamless connection between new technologies as well as traditional industries and existing application systems.
The traceability ability under the Blockchain halo is profoundly assigned by GST to the comprehensive payment trading system. The GST will drive the revolution of techniques, frameworks, efficiencies and patterns of the entire payment economy with new way of thinking and technical framework!