Last week, Andrew Couch, founder of Cryptofuse, spoke with GovConWire about how his company is looking to redefine blockchain technology and drive value in the federal market. As Couch explained, his company devised a way to exchange information without the internet by relying on asynchronous updating and the global blockchain. Couch said that CryptoFuse’s ability to track all supply and shipping information without a connection will speed up transactions, pass information from person to person and fill gaps where the internet hasn’t existed before.
“Without an internet connection, everyone drops back to a pen and paper,” says Couch, adding that his military experience exposed him to the weaknesses in supply chain tracking. Specifically, he learned that mesh networking was the best way to improve the tracking process, and that the federal market could benefit and save money by using technology that doesn’t require an immediate web connection.
Couch told GCW that he couldn’t understand why the blockchain industry was still using synchronous updating. “No one thought to make blockchain work alongside asynchronous updating. That’s what makes us different and that’s what makes the technology beneficial to government, so they never have to deal with a lost packet again. Also, accounting for information away from the internet in specific areas is just logical,” Couch explained.
For example, Couch said, a FedEx scanner functions through an internet connection. Without the internet, it wouldn’t be able to verify that a package has been delivered to your house. The same can be said for the transactions we make with our debit cards. However, asynchronous updating uses blockchain technology to hold our information, which enables internet-less
transactions. In other words, the global ledger is updated as soon as you’re back online.
Couch believes CryptoFuse’s technology could serve an unmet need for government clients. In particular, U.S. Transportation Command. “I was in the military. I know what doesn’t get tracked at the railheads. There are massive losses and it’s our tax-paying dollars funding those programs. Government benefactors could benefit a great deal from this technology and improving the supply chain tracking process.”
Couch also founded CandyLab, a location-based Augmented Reality technology company, and brought a management team in to run the company in February 2018 to focus solely on CryptoFuse.