Joisto Group Oy

Joisto develops world's first multi tenant commercial Blockchain Archive

Press release   •   Mar 03, 2020 15:39 EET

While amount of data grows exponentially in the world, the demands how organizations handle the data storage by them increases. Digital and mobile revolution together with the emergence of GDPR are placing new requirements standards in highly regulated business environments such as Legal, Medical, Finance, Judiciary, Oil & Gas, Defence and Insurance. When trust is the highest possible value simple integrity may not be enough.

Joisto is a long established platform for digital archive, store and retrieve data/files in over 1000 file types at high speed with integrity. Joisto has evolved over a 15 year history to become excellent at what it does.

” We at Joisto believe many highly regulated industries will face growing demands to have 100% irrefutable evidence of data they record. Not only who did something, but also when it happened. Joisto is now developing the solution to these complex and critical requirements.” Says Tommi Hänninen, CEO of Joisto Group.

Joisto has chosen Blockchain technology called Hyperledger Fabric to develop world’s first multi-tenant and commercial Blockchain Archive. The Hyperledger platform offers an unprecedented, reliable way to offer the archiving of valuable data. Joisto's solution guarantees irrefutable evidence of data, completing the legal integrity of archived information.

“Hyperledger Fabric implements two important concepts for our ongoing R&D project. First, as a private and permissioned blockchain, no computationally heavy consensus algorithm, like proof of work, is required. Secondly, the Hyperledger Fabric’s channel architecture complements Joisto’s multi tenant architecture perfectly.” Says Jani Partanen, CTO of Joisto Group. Joisto is a member of Hyperledger and Linux Foundation.

MVP product is planned to be available in May 2020 and piloting takes place at Q3. Official market launch will happen in Q4 2020. Developing Blockchain Archive will make Joisto stand out in the crowd, add real value to its existing and new customers. Joisto is actively looking either new pilot customers or sales channel partners.

Finnish Joisto Group Oy and its software product called Joisto is a long established platform for digital archive, store and retrieve data/files in over 1000 file types at high speed with integrity. Joisto has evolved over a 15 year history to become excellent at what it does. Joisto is the leading white label solution for handling large volumes of transactional documents and content.

Joisto currently has a footprint in 8 European countries with thousands of users accessing and utilising the platform on a monthly basis. There are more than 5 billion documents archived in the system. Joisto was awarded as the Compliance Product of the year 2019 by the UK Document Manager magazine. 

Joisto believes many highly regulated industries will face growing demands to have 100% irrefutable evidence of data they record. Not only who did something, but also when it happened. Joisto is now developing the solution to these complex and critical requirements, world's first multi tenant commercial Blockchain Archive. It will be available for market Q4 2020.