# TransitNet Launches Blockchain Protocol to Protect Digital Assets Author: Pal Sinha, Barnali Author URL: https://financedigest.com/author/pal-sinha-barnali Published: 2018-01-30 Category: NEWS Category URL: https://financedigest.com/category/news Meta Title: CapLinked Introduces TransitNet: Secure Enterprise Meta Description: CapLinked introduces TransitNet, a pioneering blockchain protocol for protecting digital assets and tracking information exchanges in enterprise transactions. URL: https://financedigest.com/transitnet-launches-blockchain-protocol-to-protect-digital-assetshtml ![undefined](https://prod.superblogcdn.com/site_cuid_cm5qst7v3003gwirgwqtxn8i8/images/fd300118-20-1736843030179-compressed.jpg) _CapLinked, backed by Founders Fund and Alphabit Fund, announces TransitNet to Secure Enterprise Transactions on the Blockchain_ [CapLinked](https://www.caplinked.com/), an enterprise software company specializing in secure information sharing, today announced [TransitNet](http://www.transitnet.io/) ™, an open and unified blockchain framework for protecting digital assets and permanently recording data access during enterprise transactions. The TransitNet protocol will be accessible via an API and used to apply protections and activity tracking for information exchanging hands during business deals. Transactions such as financing, licensing, M&A, asset sales, business development, manufacturing orders—as well as related issues of compliance, regulatory review, and audit—mean that enterprises are constantly sharing information with outside parties, making security protections and automated tracking on an immutable ledger vital to successful business operations. “Enterprise transactions are full of friction and risk. While Ripple and other decentralized technologies are addressing payments, the transfer of funds is only a small part of a B2B transaction,” said CapLinked [CEO Eric](https://www.financedigest.com/10-tips-for-financial-wellness-from-eric-blue-ceo-of-nevly.html "10 Tips for Financial Wellness from Eric Blue, CEO of Nevly") M. Jackson. Companies have to [exchange information](https://www.financedigest.com/the-health-information-exchange-market-to-grow-on-a-satisfactory-note.html "The Health Information Exchange Market to grow on a satisfactory note") before, during, and after a transaction, raising many challenges around the security, control, and tracking of digital assets. That’s why we’re building TransitNet, a decentralized protocol to [protect digital](https://www.financedigest.com/digital-id-revolutionises-end-to-end-mortgage-and-protection-platform.html "Digital ID Revolutionises End-to End Mortgage and Protection Platform") assets and permanently record data access. TransitNet leverages CapLinked’s experience in providing [software solutions](https://www.financedigest.com/healthcare-software-solutions-to-ride-the-immunohematology-market.html "Healthcare Software Solutions to ride the Immunohematology Market") for enterprise transactions. The company’s software-as-a-service platform has been used by clients to protect, track, and recall access to [millions of files sent to outside parties during business deals](https://www.financedigest.com/britains-jd-sports-to-buy-frances-courir-in-572-million-deal.html "Britain’s JD Sports to buy France’s Courir in 2 million deal") and other projects. Its clients include Ernst & Young, DaVita Healthcare Partners, Roche, Hess, FTI Consulting, and Brookline Bank. CapLinked was founded in 2010 by Eric M. Jackson (PayPal’s first head of US marketing) and Christopher Grey (former [private equity and investment banking](https://www.financedigest.com/pragma-investments.html "Pragma Investments on Wealth Management versus Private Banking") executive), and its investors include Founders Fund, PayPal co-founder Peter Thiel, 500 Startups, and Indicator Ventures. Globally, the average enterprise [shares information with almost 900 outside](https://www.financedigest.com/outside-door-handle-market-analysis-trends-top-manufacturers-share-growth-statistics-opportunities-and-forecast-to-2027.html "Outside Door Handle Market Analysis, Trends, Top Manufacturers, Share, Growth, Statistics, Opportunities and Forecast to 2027") organizations each month, carrying out day-to-day business operations. They involve the transfer of highly sensitive, proprietary, and confidential information to outside parties. However, the centralized nature of enterprise transactions are also inefficient and potentially risky, creating challenges for companies trying to track, protect, and [secure their digital](https://www.financedigest.com/taming-the-new-wild-west-how-biometrics-can-help-the-ecb-deliver-a-secure-digital-euro.html "Taming the ‘new wild west’: how biometrics can help the ECB deliver a secure digital euro") assets in motion. Blockchain technology is superior to the current centralized, cloud-based databases for recording [digital asset transfer and access](https://www.financedigest.com/bridging-the-gap-between-banking-and-digital-accessibility-in-todays-digital-by-default-world.html "Bridging the Gap Between Banking and Digital Accessibility in Today’s ‘Digital by Default’ World") by third parties. [Unlike centralized](https://www.financedigest.com/czech-central-bank-vice-gov-unlikely-to-vote-for-rate-cut-newspaper.html "Czech central bank vice-gov unlikely to vote for rate cut -newspaper") databases, a blockchain solution is permanent, immutable, trust-free and perpetually accessible, thus providing risk mitigation. Should the shared information be stolen, or should liability arise over a question of disclosure, having a detailed and indisputable [record of past](https://www.financedigest.com/soccer-premier-league-has-record-42-positive-covid-19-cases-in-past-week.html "Soccer: Premier League has record 42 positive COVID-19 cases in past week") activity will be extremely critical. TransitNet will tackle integral enterprise transaction needs head on with an open, global [distributed ledger](https://www.financedigest.com/how-distributed-ledger-technologies-are-transforming-esg-reporting-for-financial-intermediaries.html "How Distributed Ledger Technologies are transforming ESG reporting for Financial Intermediaries"). TransitNet’s decentralized application (dApp / API) will allow users to apply [protections and track their digital assets](https://www.financedigest.com/how-to-best-protect-assets-following-major-global-shifts.html "How to Best Protect Assets Following Major Global Shifts") when they’re transferred to third parties. They’ll be able to encrypt, watermark, and [set access parameters for digital](https://www.financedigest.com/digitized-overhaul-to-drive-the-bone-block-fixation-sets-market.html "Digitized overhaul to drive the Bone Block Fixation Sets Market") assets being moved and track their movement on an immutable decentralized ledger, which provides undeniable proof of access—an invaluable resource should a subsequent dispute arise. TransitNet will be an indispensable component for the execution of transactional interactions. An ecosystem of applications, computer nodes, and developers will foster the utilization of the protocol and TransitNet’s native token. Arons Lee, Chief Technology Officer at CapLinked, said: “Blockchain, in its peer-to-peer, distributed nature, will offer a distinct set of benefits to the most [urgent needs](https://www.financedigest.com/ftx-collapse-shows-urgent-need-to-finalise-eu-crypto-rules-says-european-commission.html "FTX collapse shows urgent need to finalise EU crypto rules, says European Commission") for secure enterprise file sharing. Blockchain’s permanence and immutability [means that there is very little risk that a malicious act or business](https://www.financedigest.com/carbon-zero-what-it-means-for-business-owners.html "Carbon Zero: What it Means for Business Owners") failure will result in loss of data or manipulation. A distributed ledger brings process integrity to an ecosystem of stakeholders and prospective [users who will be able to trust the technological backbone that is far more secure that any current cloud-based applications](https://www.financedigest.com/industrial-magnetrons-market-competitive-growth-strategies-based-on-type-applications-end-user-and-region.html "Industrial Magnetrons Market Competitive Growth Strategies Based on Type, Applications, End User and Region") in existence.” Co-founder & COO at CapLinked, Christopher Grey, said: “We have a proven track record and a profitable business with [industry leading technology](https://www.financedigest.com/advertys-multi-patented-and-industry-leading-in-game-viewability-technology-brainimpression-now-available-within-oracle-moat.html "Adverty’s Multi-patented and Industry-leading In-game Viewability Technology BrainImpression™ Now Available Within Oracle Moat") that has already been used to share millions of digital assets involving billions of dollars of transactions in financial services, healthcare, energy, and technology.” The announcement of TransitNet follows CapLinked’s recent partnership with decentralized cloud storage provider [Storj Labs](https://storj.io/) to host confidential business documents and transactions using blockchain technology, providing its clients the option to leverage a decentralized peer-to-peer network to store files. With TransitNet, CapLinked’s vision is to apply its core competency of information control to build a blockchain-based decentralized protocol needed to facilitate secure enterprise transactions and meet the demand for information exchange caused by business [process automation](https://www.financedigest.com/the-aquaculture-feed-and-pharmaceutical-market-to-move-ahead-on-rpa-robotic-process-automation.html "The Aquaculture Feed And Pharmaceutical Market to move ahead on RPA (Robotic Process Automation)"). For more information about TransitNet visit [http://www.transitnet.io/](http://www.transitnet.io/) --- This blog is powered by Superblog. Visit https://superblog.ai to know more. ---