A Polish company has built its own full stack blockchain/Distributed Ledger Technology (DLT) platform that demonstrates the unique high-performance architecture applicable in various business financial applications. Its solution is a universal platform that can store real (fiat) money, any data, and identity directly on-chain. It is an enterprise-grade platform that merges real money, identity, and data to enable agile business models.
Its technology is compliant with EU’s e-money regulations, transacting national currencies inherently linked with end-user identity. It also processes any public and private documents on the chain for an embedded trusted solution in line with EU's GDPR, Durable Medium and MIFID II standards.
The solution is fully mobile-optimized, with full DLT nodes running on users’ smartphones and thus ideal for mass-market applications. The company has submitted seven distributed ledger related patents, like: obsolescence lock, consensus mechanism, currency supply control and on-chain data storage.
The company's proprietary full stack blockchain is specifically designed for fiat (national) currency electronic money, any documents, and identity data - all on-chain. It has developed corporate nodes, with specific enterprise functionalities, and personal nodes that fit a mobile phone of an individual user. Thus, the system is powered by users’ smartphones and ideal for instant, p2p and mass payments. By digitizing national currencies, without any underlying cryptocurrency, and full integration with traditional financial systems, unlocking the power of blockchain technology for everyday business, both in the financial industry and for general enterprises.
Its blockchain platform is designed for high performance:
The unique DLT platform, immutably combining money, data, and identity, has endless potential applications in a variety of sectors where information separation, prevalent in traditional IT systems, is an issue.
So far, the company has focused on a few practical applications, which are already in use or piloted by clients:
There are many potential applications, to name a few:
Current transaction systems are all off-line, and they all require a central solution to manage every transaction and intermediaries.
Given these above and other global challenges around account provision and transaction complexity, a significant market has grown up around payments that are not directly linked to a bank account. In this alternative payment sector, many of the mechanisms are expensive for merchants and high friction for end-users. Still, this alternative payment sector is currently valued at $899bn globally and is forecasted to grow by 50% to 2019, to $1.3trn. Current disjoint payment solutions with multiple layers of middleman suffer from high friction.
The technology and solution can help address the business issues of existing client-server based solutions. The platform provides an innovative DLT software that creates new documentation management, payment & information rail built for real-currency applications, optimized for speed, scalability and cost. The white-label solution enables ultra-low cost accounts and transactions, solving financial inclusion and many more B2B applications in the area of loyalty, motivation, sales and payment.
In practical terms, customer benefits can be measured in terms of revenue improvement or cost reduction, e.g.: