Blockchain Solutions for the Financial and Banking Industry

The financial industry is not immune to the digital transformation of our global economy. Concerned with the possibility of cryptocurrencies upending their livelihood,those in the financial sector are understandably apprehensive about the use of blockchain technology.

Today, the financial industry is met with increasing instances of fraud, data breaches, regulatory requirements, and compliance reporting and their traditional siloed systems are failing to keep up. Dragonchain has the tools necessary to secure and streamline the financial industry’s workflow processes for a smoother transition into the new global economy.

Tokenization and Enterprise NFTs

Your business can transfer assets via tokens for more security, faster settlement times, and decreased costs. Programmable tokens can be internal or external and can be mapped to a standard legal agreement through smart contracts. Additionally, with Dragonchain’s patented smart contract orchestration system your business can automate any process and quickly adjust when the need arises.

For those who are looking to use blockchain but are cautious of the regulatory repercussions, businesses can use Enterprise NFTS. These Enterprise NFTs can be used for tracking and access control of financial records and services and travel along the chain of custody for full data integrity. They can also be used for access control of carbon credits and offsets as well as for blockchain-based tracking emissions.

Additionally, your business can use Enterprise NFTs as rewards to motivate the behavior of your employees, partners, and customers in following a process such as being regulatory compliant, submitting KYC, or reducing their carbon footprint.

KYC/AML

Dragonchain simplifies identity proof and automates compliance for identity management. Our decentralized identity services provide a stronger, more secure identity solution. The system proves KYC/AML compliance while mitigating the risks to your business from holding personally identifiable information (PII). Additionally, we provide proof of GDPR/CCPA compliance on blockchain that won’t expose PII guaranteeing personal data is protected.

Anti-Fraud and Compliance Proof Systems

Dragonchain makes it possible for your business to prove compliance in payments and markets systems, policies and procedures, and regulatory requirements. We offer measurable proof of the state of your data for immutable chain of custody evidence. Compliance proof systems leverage multiple blockchains to prove that transactions occurred at some point in the past and are secured with billions of dollars per quarter of measurable proof.

This provably accurate and tamper-proof on-chain audit log demonstrating compliance can be disseminated to interested parties through a proof report. This report can be selectively exposed to regulators or partners.

Any federation can also use this capability to register anti-fraud data from any of its member firms without exposing sensitive data to furnish proof to selected entities.

We’re Ready Today For a Prosperous Tomorrow

Dragonchain offers fast and secure deployment of blockchain-powered solutions interoperable with any external blockchain, legacy system, or application. We allow entities to host independently scalable solutions in any cloud or on-premises environment. The platform is independently scalable with proven scalability to Visa global payment systems level of hundreds of millions of transactions per day.

The Dragonchain platform operates in carbon-neutral facilities and consumes just 0.02 Watts per transaction. With our sustainable platform, your business can use our proof of compliance system to record, track, and verify climate-related data to prove carbon emissions.

We leverage multiple blockchains for decentralization and security. We advocated for decentralized systems and mirrored backup systems to minimize downtime and risks associated with data breaches. Your existing DevOps and IT security best practices are reinforced with our available quantum encryption and signing capabilities.

Our hybrid architecture allows selective transparency so that your sensitive and proprietary data remains under your control. Our flexible integration allows businesses to tap into novel blockchains for additional utility. Once committed and a full assessment is completed your business can integrate a quantum-resistant blockchain system in as little as 10 minutes with just 3 clicks.

Additional Resources

Anti-fraud & Compliance Decentralized Identity Fintech Compliance Case Study Data Segregation and Identity Management