Launches DLT for IAM Solution
January 9, 2019
launched to bring the power of distributed ledger technology (DLT) to
the enterprise. Transmute secured $1M in pre-seed funding in January
2018 to fuel research and development to launch.
Transmute’s initial customers are Fortune 1000 companies, which
typically manage up to 1000 centralized applications as part of their
workflow and face immense data security challenges. By integrating
traditional centralized directories with the same decentralized,
distributed cryptography that powers blockchain, Transmute makes it
possible for enterprises to deploy DLT when and where it delivers real
value and security, using code they’ve already written. Their beachhead
use case will be in Identity and Access Management (IAM), and their
first product Transmute ID will launch in 2019.
“The rise of DLT is inevitable, and the shift to decentralized
applications is going to be as disruptive to the enterprise as the
transition to cloud computing was,” said Transmute CEO, Karyl Fowler.
“During the transition to cloud, we saw a massive demand for tools that
bridged existing IT investments with the next wave of development. With
Transmute, enterprise development teams can use their existing resources
to build safer, superior decentralized applications while retaining the
scalability of centralized cloud providers. It’s really the best of both
Experts forecast the IAM market will grow at a Compound Annual Growth
Rate (CAGR) of 13.7%, reaching a $24.6B market cap by 2022. At the same
time, the blockchain market is projected to grow at a CAGR of 79.6% over
the next several years, ultimately reaching a $60.7B market cap by 2024.
The stellar growth in both of these markets are driven by an increasing
demand for data security, simplified business processes, and
transparency and immutability in the enterprise.
With Transmute enterprises can use their existing development resources
and infrastructure to build decentralized applications. Transmute’s
event-sourced framework, released earlier this year, is compatible with
functional languages and standard identity concepts. It supports
frameworks they do today, like React and Redux.
like Equifax are showing how vulnerable centralized infrastructures can
be, and these infrastructures are commonplace across the enterprise,”
said Transmute CTO, Orie Steele. “At the same time, the immense benefits
of DLT and distributed cryptography come with a heavy setup cost and
usability challenges. That’s why we’ve been focused on building a
company that enables enterprise dev teams to solve their identity
management problem and their application development problem, using code
they’ve already written.”
All of Transmute’s solutions integrate with all major cloud providers,
and their primary technical building blocks are offered in an
open-source format. Solutions range from developer starter kits that
help companies rapidly create proofs of concept to custom solutions for
In October 2018 Transmute was named as one of six winners of Oracle’s
inaugural North American Cloud Startup Accelerator for their value in
enterprise growth and cloud innovation.