Case Study: Anti-Fraud and Transparency in Fintech

How Dragonchain delivered a solution for Beaxy in 5 days, providing transparency and anti-fraud solutions for a US regulated financial institution and cryptocurrency exchange.

From Concept To Operational System In 5 Days
Front-running
Evidence for both the trader and the exchange that all transactions occurred well in advance
Transparency
Solved lack of transparency in a young and fast developing industry
Anti-fraud
Disincentives fraud, and detects fraud in a transparent manner
Proof reports
Proof reports for every transaction are available
Trades and orders
Making all trades and orders transparent for only ~$xx in tx costs a day.
By the numbers
Dragonchain will create over 15 million transparent transactions a day for Beaxy.
How it started
Dragonchain and Beaxy Exchange started working together in a different area at first. Beaxy is a US compliant financial service, constantly exploring new innovations that provide more transparency to their users. Dragonchain’s Provably Fair System was the first solution we successfully integrated with their systems, allowing Beaxy to run trading contests with a provably fair random selection of the winner. Now Beaxy will use this system for all of their contests and give-aways.
Brainstorm
Working with Beaxy and doing the integration with different systems was so simple, that we all decided to step it up a notch very quickly. This is where our Anti-Fraud and Transparency Systems came into play. Front-running, fraud, and market manipulation are not only a problem in traditional finance and exchanges, but also in financial services in the cryptocurrency industry. We were able to tackle these difficult challenges by combining our experience and technical knowledge.
Transparency
Most Transparent Exchange in the World
Dragonchain developers were given access to some of the APIs, and worked closely together with Beaxy their developers. In a matter of days the proof reports for every trading pair were integrated, making not only every trade (buy/sell) transparent, but also making Beaxy the most transparent exchange in the world. The next step is doing the same for all orders placed in the order books.
The stats
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