Block Chain Technology

Block chain is a digital ledger that provides a secure way of making and recording transactions, agreements and contracts – anything that needs to be recorded and verified as having taken place. However, uniquely, rather than being kept in one place like the more traditional ledger book, the database is shared across a network of computers. This network can encompass just a handful of users, or hundreds and thousands of people. The ledger becomes a long list of transactions that have taken place since the beginning of the network, getting bigger over time.

A block chain database consists of blocks and transactions. Blocks contain batches of transactions that are “hashed” and encoded. Each block contains the hash of the block before it, which links the two and forms the chain. This process validates each block, all the way back to the original, and is integral to the database’s security. When a transaction takes place, its details are encrypted and a unique multiple-character transaction number is generated. Instead of other users in the block chain being able to see the exact details of the transaction, this number is recorded in the ledger as a placeholder. All the users of the network will be able to see that the transaction has taken place but only the parties involved in the transaction can access and view its details. All this makes fraudulent activity easier to spot. Block chain could be a revolution for businesses, governments, organizations and individuals. For virtually any kind of transaction, it helpsto reduce the movement of money, products or sensitive information worldwide is provided in a secure manner.

The Centre Systems team has been following the block chain-focused ecosystem for quite a while and providing solutions for authentication, Block chain-as-a-service, open-source Block chain, application development, mobile wallets, compliance,trading, and investment etc. ..We work with partners who are deploying data-centric Block chain applications for automotive, energy, identity, IoT, intellectual property and supply chain use cases.

You May Read (YMR), an app for book rentals, helps you to read, share, rent, sell and exchange your books with other book readers within 500 km range from their current location. It is already available on PlayStore and AppStore. You may add a book by scanning bar-code or create events or even communicate with fellow readers near you from its inbuilt messaging system. You can also look for nearby events and even create your own events. This app changes the book reading process, giving it a whole new meaning and experience by integrating technology through innovation and virtual reality.

Block Chain Products
An online rental payments system can be built in accordance with the International laws. This system felicitates the online payments between property owners and tenants. Apart from being the payment gateway for the rental services it provides the functionality to manage disputes and generates the automated rental agreements, rent receipts, and even tax saving forms

An online rental payment platform for the United Arab Emirates. This is built in accordance with the UAE regulatory laws. It is is based on the block chain, where smart contracts are generated and tenants can make online payments. They can also use bitcoins to make the payment. Once registered a user can manage his payments, generate receipts, contact his property owner/tenant directly and even raise issues or concerns related to the property. Its mobile app is being fantastically designed to give the best user experience.