ZIB and Deepshore will collaborate in developing a regulatory compliant digital archive service, called Pacio, which guarantees reliable and auditable storage of financial data, such as receipts.

Within this project, protocols and algorithms will be researched that combine technologies and approaches from the fields of cryptography (specifically the blockchain), distributed file systems and big data analyses, with the aim of creating a tamper-proof digital archive.

Contrary to state-of-the-art approaches to solving this problem, Pacio is inherently scalable and fault tolerant, and will be developed as open source software with a permissive license.

For ZIB, Pacio is an opportunity to validate research conducted in distributed data management (such as XtreemFS) using Deepshore’s practical experiences with large wholesale clients, and further deepen its expertise in blockchain technologies and their application.

This project is funded by the Federal Ministry for Economic Affairs and Energy (BMWi) as part of the Central Innovation Programme for SMEs (www.zim.de).