Quartz Smart Solutions: Ready-to-use, DLT Solutions for Business

Solution

Highlights

Quartz Smart Solutions aim to automate business processes and functions with 'Smart Contracts' and AI/ML capabilities
These are designed as a combination of on-chain services deployed on blockchain and off-chain services residing on traditional databases.
Some readily available solutions include CBDCs (central bank digital currency), Contract Performance Monitoring, Digital Guarantees, and KYC.

Abstract

Quartz Smart Solutions is a set of cross-industry business solutions that enable rapid digital transformation with the use of cutting-edge technologies.

Quartz Smart Solutions can help organization automate processes, improve security, transparency and efficiency, enhance agility, and reduce cost with the use of DLT and AI/ML. It uses ‘Smart Contracts’, the self-executable software stored on ledgers and triggered by a set of specific events, occurring within it or from pre-configured rules that are programmed into these contracts.

Challenge

Built on the core principles of coexistence, integration and interoperability, Quartz enables systems to coexist and integrate with multiple underlying platforms such as Hyperledger Fabric, R3 Corda, Ethereum, Polygon and other messaging networks.

Organizations globally and across industries are exploring ways to harness business value through improved trust and transparency, increased collaboration, elimination of data redundancies, reduced risks, and enhanced agility. In doing so, some of the major challenges organizations come across include facilitating the quick adoption of technology, refining and honing relevant skillsets, and efficiently enabling the absorption of benefits for existing systems.

Solution

Quartz Smart Solutions consist of a set of comprehensive solutions with business-aware ‘Smart Contracts’ that help automate processing on the distributed ledger, along with the use of AI for driving automation. A Smart Contract is a self-executable software that is stored on the ledger and triggered either because of specific events occurring within it or from pre-configured rules that are programmed into these contracts. Participants can provide, consume, and instruct these transactions on the ledger based on their role and privileges. Quartz Smart Solutions are designed as a combination of on-chain services deployed on blockchain and off-chain services residing on traditional databases or files, thus ensuring that only business processes well-suited for blockchain are deployed on-chain.