REDMOND, WA, October 18, 2019 — 10XTS is excited to announce the company has graduated from the first phase of Microsoft for Startups Accelerator Program. This graduation comes with a $120,000 non-dilutive grant to continue the development and deployment of XDEX on Microsoft’s Azure Cloud Services platform.
10XTS CEO, Michael Hiles, was previously a partner in a Microsoft Partner consulting firm in the Content & Collaboration track. Using information architecture and governance to organize massive corporate data and libraries of structured and unstructured content with tools like SharePoint and other Enterprise Content Management (ECM) solutions became a catalyst for connecting traditional documents, information, and data to a blockchain distributed ledger.
Information architecture and governance are important, missing links in blockchain adoption across highly regulated industries like those participants in various aspects of financial services and capital markets.
XDEX is a distributed ledger-based record management platform for capital markets participants. XDEX enables a shared data ecosystem to ensure transparency and immutability of transactions to lower risks and reduce costs.
XDEX is designed to become an encrypted document and metadata vault for information proof of data about entities, assets, and transactions. This allows for the true “tokenization” of assets within recognized legal constructs.
While the entire, core application stack for XDEX is platform-independent, Microsoft has continued to advance the field of informatics with metadata management and workflows using Office 365 and Dynamics productivity suites.
Other platforms launch cryptographic token hash values on blockchains, but don’t take a structured metadata record management approach, instead focusing on basic transactional logic in smart contracts on public cryptocurrency networks.
10XTS has taken a very different approach to the technology, focusing on attaching real world business data and artifacts to a distributed blockchain ledger. XDEX becomes the immutable link between a specific version of a digital document and other data stored as a hash on the blockchain ledger itself.
Hiles asks, “If someone says a particular token or hash value on a blockchain represents shares of stock in a company, how do they actually prove it with real evidence? Regulators will never be satisfied until there is immutable proof.”
The next objective for 10XTS is to spend the next year working directly with the Microsoft global sales team to 1) define an Azure cloud services consumption model that can be scaled; and 2) deploy the XDEX solution into the global Azure Marketplace. Once this objective has been achieved, 10XTS is eligible for the Microsoft Co-Sell program, which is true channel partnership for global sales in partnership with Microsoft’s sales team.
Once the model is complete and XDEX is deployed, 10XTS hopes to potentially be a candidate for investment by M12, formerly Microsoft Ventures. This would allow 10XTS to scale up customer on-boarding and solutions deployment.