Blockchain is a technology that uses distributed databases, math and cryptography to record transactions. Think of it as a system composed of many giant accounting ledger databases all synced with identical transaction information. Each new financial transaction gets copied or stacked in sequence like Lego blocks. This means that it is virtually impossible to hack since it would be necessary to hack millions of databases.
Today is blockchain technology, one of the most talked-about topics in the financial services industry. it will enable banks to process payments more quickly and more accurately while reducing transaction processing costs and the requirement for exceptions.
However, to capitalize on this potential, banks need to build the infrastructure required to create and operate a true global network using solutions based on this transformative technology.
Our survey found that Blockchain technology was invented back in 2008. But it’s just now taking the internet, technology, and even banking by storm. Already, 28% of people around the globe are familiar with blockchain technology. That number is 38% if you only count people in India. In 2015, 21 different blockchain technology companies secured $250 million in funding. And by 2016, they had raised well over one billion dollars to drive their operations.
• Consulting & Advisory Services
• Development Services
• Integration Services
• Testing Services
BLOCKCHAIN CRYPTOCURRENCY SERVICES
SMART CONTRACTS DEVELOPMENT
Implement smart contracts to automate enforcement in Root Stock and Ethereum. We can write your smart contract’s code securely.
SMART CONTRACTS AUDIT
Security flaws, misbehavior and inefficiency are very expensive when you deploy a Smart Contract to the Blockchain. We help companies to make the best Smart Contract code.
Develop safe and reliable cryptocurrency exchanges.
Develop Financial, Health Care, Retail, Manufacturing, etc. private blockchains on Hyperledger.
PRIVATE BLOCKCHAIN DEVELOPMENT
Implement a private blockchain in your institution or corporation.
LOAN DATA SHARING
Use the blockchain to share credit information between different banks to avoid multiple loan requests using the same documentation.
SUPPLY CHAIN BLOCKCHAIN
Implement a complete supply chain on a blockchain to track the whole process in a single place. Collaborative Commerce enables trade partners interact in a friction free manner, gaining deep visibility into their supply chain so they can make smart forecasting decisions.
Protect traditional wallets and multi-signature wallets to guarantee security.
Fund your product ideas with Initial Coin Offerings (ICO) on Ethereum. We can develop your Smart Contracts securely.
Teach your team to understand the development on blockchain technologies and be prepared for the next moves.
PROOF OF EXISTENCE (POE)
Create your own notary registry. We can license our document registry system built on top of Ethereum for private or public blockchains. It allows users to manage and sign documents.
Implement cryptography-based technologies to store immutable data. We can help you choosing which of your processes are suitable for this technology.
IT’S ALL ABOUT THE NETWORK
A global network is critical to helping banks use blockchain technology to help transform payments at scale and help reduce risk of failure. The most effective network should have two defining characteristics:
1. It should include the necessary defined rights, obligations, controls, and standards.
2. It should offer a quick and efficient on boarding process that enables banks to essentially “plug and play” into the network for both existing and future corridors.
Importantly, many executives also noted that the network should not be an exclusive club. “The network should be open to banks and non banks to create a level playing field,” said one executive at a global bank.
Much work remains to define the rules of engagement and help create the basics of the network before banks can move past a discussion of the technology itself and begin exploring how to actually use it to improve their business.
Regardless of who’s creating and driving the network, banks roundly agree that blockchain technology needs a robust network for success.