A Digital Cognate is a secure, immutable representation of any tangible or intangible asset, and any business or process outcome – that an individual or groups of stakeholder(s) – define and support by aggregating consensus-based affinity data that validates the veracity of the asset or outcome.
Linking any asset to its consensus-based affinity data, gives the Digital Cognate intrinsic value to those who subscribe to the same value. The denominated value can be legally binding using machine-readable and natural language contracts.
Digital Cognates enable any organisation (business or government) or individual to define, capture and manage their own measures of value using an inviolate centralised (non blockchain) archive that protects the owner’s digital rights and assures trusted, auditable transactions.
Processes, people and data represented in the Digital Cognate are captured in a GDPR-compliant centralised, immutable database with version control and permissioned access. Data can never be changed or erased with each new data object computationally-linked to its predecessor. All user access is similarly recorded.
Digital Cognates allow the equitable-by-accord monetisation of an infinite range of tangible and intangible assets. They are a trusted and legally binding method of value transfer without the need for third party intermediaries.
The Digital Cognate platform is centralised and cloud-based, however, Digital Cognates can also be used as a “centralised gateway” for transferring “intrinsic value” using “distributed ledgers”. The Digital Cognate platform’s centralised architecture assures certainty of value creation, while a distributed ledger node provides finality of value transfer.
This centralised-distributed bridge allows enterprises to manage their largely centralised assets in their current cloud or legacy infrastructures, but with an API into a distributed architecture.
Application of the Technology
Digital Cognate delivers trustworthy outcomes that manage risk, governance and compliance for asset managers, reinsurers and law practices.
Digital Cognates are aggregated into Cognate applications such as model control, process certification, credentialing, internal audit, and other governance and compliance tools, that drive an immediate and measurable ROI for users, while providing real time, line of sight on high-value, regulated transactions.
Digital Cognate risk, governance and compliance outcomes are tracked in a multi-layered User Interface that provides your agreed business context. Dashboards provide real-time outputs as to the status of your outcomes.