Empirical Data announced the launch and introduction of RedShift, a first of its kind blockchain solution for corporate CSR. This game-changing solution provides a platform for corporates to ensure smooth CSR project execution.
RedShift brings a simple, efficient and affordable enterprise solution that helps corporates to focus and execute humanitarian and social projects. “A well-executed CSR project is the best way to give back to society. We are excited to introduce RedShift which will help create greater transparency and visibility in daily corporate CSR transactions. With RedShift we aim to change the way businesses interact with various stakeholders in the CSR activities,” said Karthik Ramarao, Founder & CTO at Empirical Data.
Empirical Data is incorporated as the Indian subsidiary of trANa Technologies, headquartered in Singapore, providing groundbreaking enterprise solutions on its blockchain – Fusion Core. By adding leading-edge innovations and enhancements to the open source blockchain framework, Empirical Data has successfully integrated blockchain with sensors, IOT and ML to introduce a new breed of solutions for enterprises.
RedShift enables a shared system of immutable single data source for all stakeholders. Its applications reach far beyond the scope of CSR and philanthropy. Apart from providing step by step execution of activities, this tamper-proof solution provides a consistent set of records for the whole value chain to see and review. RedShift enables stakeholders and auditors to easily trace the provenance of the data as well as to be prepared for random inquests from government audit bodies. Blockchain is an enabler for RedShift, providing fundamental change, transparency, and empowerment for the execution of CSR in India.
Redshift’s SXCAL engine is equipped with advanced features such as alarms, flags, invoice creation, payment initiation and more. With RedShift corporate enterprises can now make use of unprecedented benefits such conservation of time, effort and also get instant reconciliation and updates.
The Redshift solution is available from the 20th of May 2019.