ELROND  ♥  USE CASE

Financial technology and the blockchain

Banks and financial service providers are competing with start-ups from the FinTech sector. Time to look at the possibilities of blockchain technology and develop innovative solutions for a customer-friendly financial market.

Open banking: the future of the financial industry

Whether it’s loans, payment solutions, or capital investment, the financial world is inexorably evolving into an open, customer-centric ecosystem of digital solutions.

With services like app-based payment tools, FinTech startups are pushing traditional financial services providers into the role of customer-centric platform providers.

Blockchain and FinTech applications

With its focus on security, anonymity, speed, and lower transaction costs, the Elrond blockchain is the optimal technical basis for open banking and the development of disruptive business models in the field of financial technology.

Company and customer data as well as sensitive information such as ownership are stored in the blockchain in a tamper-proof manner and optimally protected.

Open Banking, FinTech and the Elrond Blockchain

The possible applications for FinTech projects are almost unlimited …

01

Blockchain for simplified proof of identity

Since a person’s identity can be stored uniquely in the blockchain, proof of identity for services and applications in the financial sector can be provided without intermediaries (postal ID procedure, bank, etc.).

02

Blockchain for optimal clearing

Clearing processes in payment transactions, at futures exchanges, or in security business can be realized faster and at lower costs.

03

Blockchain for accelerated transactions

With the Elrond Blockchain and Smart Contracts, financial transactions can be simplified and executed in near real-time. The transaction costs incurred are negligible. The role of the intermediary in the form of a bank is called into question.

04

Contract compliance plays a central role in the financial world. With the help of the Elrond blockchain and smart contracts, contract processes can be automated, manipulation can be eliminated, and contractual partners can be forced to comply with their obligations.

05

Blockchain and rewards programs

Through automation, for example, bonus payments for referrals of a new customer, or employee bonuses for further training and know-how transfer in the company can be distributed automatically and securely.

More about the Elrond blockchain

Let us show you why we are convinced of the Elrond blockchain technology.

Functional Comparison

Elrond is a high-performance blockchain technology based on the proof-of-stake consensus mechanism. It was developed to eliminate vulnerabilities of other blockchains. Actually, we claim that Elrond is the best blockchain technology in the world.

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Orientation Call

Would you like to learn more about the potential of the Elrond blockchain for your company? Our experts will be happy to advise you. Free of charge and without obligation.

Please contact us …

Cost Calculator

Calculate your transaction costs with the Elrond blockchain compared to other transaction technologies like Paypal or credit card. You will be amazed!

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Blockchain Check

Find out how your business can benefit from using the Elrond blockchain in just a few clicks!

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Advantages of the Elrond blockchain

Blockchain Technology
Transactions without intermediary, fail-safe through decentralization, protection against manipulation.

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Adaptive State Sharding

More than 15,000 transactions per second possible, scalable upwards for maximum performance.

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Secure Proof of Stake
Optimal protection for sensitive data and information as well as an improved eco-balance.

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Low costs

Minimal transaction costs to ensure your competitiveness and optimize your pricing strategy.

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Adaptable Smart Contracts

Automatic transactions and payments according to defined rules and conditions. Smart, isn't it?

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Elrond ecosystem

Extensive network of validators, developers, investors, research partners and exchanges.

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Let's talk about Elrond and FinTech.

Want to learn more about the potential of the Elrond blockchain for the financial industry?
Contact us for an orientation meeting. We look forward to hearing from you!

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References

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