World's First Process Mining Software with Integrated Blockchain

INTRODUCTION OF INTRACHAIN

Intrachain is the world's first process mining software with integrated blockchain. Compatible with all IT infrastructures, Intrachain centralises and streamlines your intercompany accounting, reducing your costs and increasing productivity.

Mining applications is the implementation of knowledge discovery in the field of modernization of the application which involves understanding existing application artifacts.This process is related to the concept of engineering back.Usually the knowledge gained on the basis of application imaginable served in the form of a version specific questions can be formed if expected.Relationship entity is a layout often represent the knowledge gained from the software that is contained.The object Management Group (OMG) spread the Knowledge Discovery Metamodel Specification (KDM) defines the ontology for software assets using the create destination relationship & innovating knowledge of existing code. we are able to try to peel again about a organisation this is developing the task. The mining equipment combining Intrachain platform procedure makes use of decentralized database.Technical architecture lets in create a myriad of makes use of.Intrachain use this critically on the gathering of lines of IT in the gadget information garage & tamper-evidence at blockchain. Business application answer Intrachain business enterprise used big create quantify & procedure intercompany offerings incident. The wide variety of required while any event, tracked through technique of mining gadget Intrachain. Time is measured primarily based on any event assigned to a perfect create receive offerings.

External integration system is Intrachain

In this picture above you can see how Intrachain provides the receipt and processing of primary data from the executors (Process Mining component), billing automation and transactions in the blockchain (Intrachain Server), as well as the integration component with ERP systems of the customer and executor in the form of Intrachain API and adapters.

How does Intrachain operate

Intrachain operates with two Ethereum blockchains — Public and Private. Legal entities are represented in public blockchain with private accounts. Depending on the contract between legal entities the number of smart contracts are created in compliance with the terms of the contract. Advance and prepaid settlement systems are possible. The smart contracts that are in accordance with the treaty provisions are also created in a private blockchain. The execution of contractual obligations is carried out through calls to Intrachain API. The Intrachain Server processes incoming requests and generates transactions in a private blockchain, the execution of which leads to the call of the smart contract code. The smart contract code is responsible for the correct calculation of funds for debiting from the counterparty account for services rendered within the transaction being executed.

The Problem

* Large corporations are highly inefficient.

They often consist of several hundred subsidiary companies, which are put together under one group. Managing transactions between these subsidiary companies is very inefficient, mainly because of two reasons:

• A lack of information

• High costs for allocation, reconciliation and clearing

The Solution

* Intrachain provides a solution for both problems.

The lack of information is fixed by the Intrachain Process Mining Engine. It enables each subsidiary company to drill down into their costs and identify single activities and their duration. These activities are connected to the blockchain and get processed immediately using smart contracts. The smart contracts charge the receiving parties right away and handle the corresponding transactions.Furthermore, the technology works across all IT infrastructures due to its decentralised blockchain. Therefore, it can easily be implemented at new subsidiaries. So it doesn't interfere with common M&A activities or infrastructure decisions.

Intrachain Whitepaper

Due to the decentralized storage of information, all parties have the same information. This leads to manual reconciliation becoming obsolete, saving companies valuable time and money. We believe that this helps companies to optimize their processes and maximize their revenue. Moreover, when manual activities become obsolete, it helps to erase human errors, leading to a better quality of data and eliminating common problems and risks associated with reconciliation. Furthermore, due to the blockchain being encrypted, the stored data is secured against attempts of manipulation. Additionally, transactions are easy to track, which provides the ability to investigate balances at the source of transaction and leads to more accurate date.

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