Centrifuge Operating System
The Centrifuge Operating System is a decentralized network to support a new generation of applications for the financial supply chain. Centrifuge OS provides users with the ability to remove intermediaries and create financial business documents as Non-Fungible Tokens (Business NFTs) that have long-term verifiability, are censorship resistant, and are stored and processed in a decentralized fashion. Initially, Centrifuge OS supports the document types Invoice, Purchase Order, Company Data and Business Relationship. The first Business NFT implementation is an "Unpaid invoice".
Centrifuge OS provides a method to create, exchange, and use the data that exists in the financial supply chain. It creates transparent and shareable relationships between interacting companies. Data owners can selectively share the information with their business partners or other users of the OS. Centrifuge OS provides a censorship resistant way to verify the authenticity of data that is transacted through and stored in it. This creates the foundation for data ownership, privacy, and transparency throughout the financial supply chain and also allows third parties to offer additional services, such as instant and decentralized financing of invoices and orders, trade credit insurance and financing supply chains multiple levels deep.
The underlying Centrifuge protocol has a two layered approach. It is built on Ethereum which allows businesses to transact freely on a single verifiable source of truth. The public blockchain is used for business identities, committing document status and minting business NFTs. In addition, a peer to peer network enables private, off-chain transactions and is used to send business documents back and forth.
Ethereum is a decentralized platform that runs smart contracts. Functionality deployed on Ethereum acts as the primary and trusted entry point and anchor for the other Centrifuge OS components. The censorship resistance and decentralized nature of the platform provides trustless lookups for Centrifuge OS users. Ethereum allows users to publish identity and document information through Centrifuge OS Smart Contracts without relying on any third party. Furthermore, Ethereum’s architecture provides a well-tested system for the issuance of tokens to incentivize honest participation within the OS, issuance of tokens directly related to business documents, as well as decentralized governance layers of the OS at large.
For more information, see the Ethereum Project.
Centrifuge is Beta Software
Centrifuge OS and all its components are Beta Software. There will be substantial changes in the future and backwards compatibility is not guaranteed. Please use with caution. See Disclaimer.