According to an announcement published on 22 July, Acoer has launched a decentralized software engine called RightsHash on the Hedera Hashgraph blockchain. RightsHash uses serverless, open APIs that provide an easy means to represent and manage an individual’s rights as unique digital assets. The engine will use the public Hedera platform to associate an individual’s digital rights to an NFT.
Building the platform on the Hedera network has enabled Acoer to track and monitor discrete rights and protections in real-time, track transactions from different data sources and across different apps, and provide automated auditing of all related compliance transactions. In addition to the infrastructure provided by Hedera, RightsHash will use its own distributed architecture, decentralized processing, and storage nodes.
“We are very excited to be launching RightsHash, and firmly believe that our engine will support a number of different business use cases,” said Jim Nasr, Acoer CEO.
The first production deployment of RightsHash will focus on consent management for clinical trials. Acoer has partnered with the Consent Custody Corporation to develop a fully functional platform based on RightsHash called ConsentHash. Brendan McSheffrey, the Consent Custody Corporation CEO, said that RightsHash represents a big technological step forward in managing individuals’ rights and protections, especially when faced with complex regulatory and policy requirements.