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 …
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.).
Blockchain for optimal clearing
Clearing processes in payment transactions, at futures exchanges, or in security business can be realized faster and at lower costs.
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.
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.
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.
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.
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.
Advantages of the Elrond blockchain
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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