WANdisco Plc New blockchain patent filing and VP of Engineering (6463V)
July 25 2018 - 1:00AM
UK Regulatory
TIDMWAND
RNS Number : 6463V
WANdisco Plc
25 July 2018
25 July 2018
WANdisco plc
("WANdisco" or the "Company")
WANdisco announces filing of new blockchain patent and VP of
Engineering
WANdisco's patent filing gives a glimpse of blockchain's
commercial future
San Ramon, California - WANdisco (LSE: WAND), the LiveData
company, announces a new patent filing. The filing protects the use
of the WANdisco's Distributed Coordination Engine(TM) (DConE) - a
patented Paxos-based consensus technology - to resolve issues
associated with public blockchain technology.(1)
Public blockchains have a number of significant limitations,
which include resource intensiveness required to maintain their
integrity. In order for permissioned blockchains to be commercially
viable these restraints need to be overcome. Through the use of
DConE, WANdisco's pending blockchain patent enables effective
permissioned blockchain transactions with an underlying algorithmic
mechanism. This mechanism enables throughput to be achieved that is
orders of magnitude higher than public blockchains.
An algorithmic mechanism is designed for scalability and does
not have a single point of failure, which is crucial for essential
business applications. It is also extremely secure because
algorithmic consensus is very difficult to manipulate. As a result,
building and maintaining blockchain-based business applications
will be simpler and far more scalable than existing
technologies.
DConE's blockchain application opens up the potential of
blockchain technology to a broad set of commercial applications
including but not limited to supply chain, banking, healthcare,
retail, pharmaceutical, insurance, and government.
The Company believes academic interest in this patent will be
around the importance of algorithmically-based consensus, which
enables a decentralized network to arrive at an agreement about the
state of the blockchain. For additional information, an academic
paper on blockchains can be found here.
Today's announcement follows the appointment of Dr. Ramki
Thurimella Ph.D as VP of Research in January 2018. Dr. Thurimella
was tasked with exploring new applications for WANdisco's unique
replication technology and their transformation into successful
products. Additionally, WANdisco today announces the appointment of
Dr. Sakthi Subramanian as WANdisco's new VP of Engineering. Dr.
Subramanian is a network security expert and has been
Vice-President of Engineering at FireEye, Inc. and Director of
Engineering at McAfee. Sakthi has a Bachelors in Electrical
Engineering from the Indian Institute of Technology, Chennai, and a
Ph.D in Computer Science from the University of Texas at
Austin.
The Board remains positive about the burgeoning pipeline of
opportunities and is confident that the Company continues to trade
in line with market expectations. The Company will announce a
detailed trading update in mid-August.
(1) Additional patents related to DConE, both US and
international, are also pending.
For further information, please contact:
WANdisco plc via FTI Consulting
David Richards, Chief Executive Officer
and Chairman
Erik Miller, Chief Financial Officer
+44 (0)20 3727
FTI Consulting 1000
Matt Dixon / Harry Staight / Leah Dudley
/ Kwaku Aning
+44 (0)20 7710
Stifel (Joint Broker and Nomad) 7600
Fred Walsh / Neil Shah / Ben Maddison
/ Rajpal Padam
+44 (0)20 7418
Peel Hunt (Joint Broker) 8900
Edward Knight / Nick Prowting
+44 (0)20 7220
WH Ireland Limited (Joint Broker) 1666
Adam Pollock / Tim Feather
About WANdisco
WANdisco is shaping the future of data infrastructure with its
groundbreaking Live Data platform, enabling companies to put all
their data to work for the business - all the time, at any
scale.
WANdisco makes data always available, always accurate, and
always protected, delivering hyperscale economics to support
exponential data growth with the same IT budget. With significant
OEM relationships with IBM and Dell EMC and go-to-market
partnerships with Amazon Web Services, Cisco, Microsoft Azure,
Google Cloud, Hewlett Packard Enterprise, Oracle and other industry
titans - as well as hundreds of customers among the Global 2000 -
WANdisco is igniting a Live Data movement worldwide.
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END
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