is a blockchain-fused platform that emphasizes data security and efficiency for the banking industry.
Although e-contracts might be more efficient, the Bank system still relies heavily on physical signatures and contracts for compliance. A paper contract has obvious shortcomings: manual input inefficiency or error; high transportation cost or even transportation failure; risk of loss/ damage of paper document on improper handling. However, BankBlock will revolutionize contract settlement through blockchain technology: immutability, traceability, and security.
7 Steps Journey
Intra-Bank Blockchain Network
Inter-Bank Blockchain Network
We vision BankBlock to be of great use in intra-bank and inter-bank systems. In the intra-bank system, BankBlock could speed up data acquisition in a timely and accurate matter. With access permission and a track record, different portals within the banking ecosystem could access up-to-date versions of said data on the blockchain. Besides, every alteration would be transparent to relevant parties with specific access permission. In the inter-bank system, BankBlock could serve as a decentralized, trustless domain for different parties. Therefore, contract handling default will be minimized as this system could drastically reduce lower manual/ repetitive input and handling.
Stakeholders with common goal
Stakeholders can share data with each other through blockchain network
Only invited stakeholders can access the network with permission controlled
Stakeholder can build its own portal for different business use cases
Once data is submitted on-chain, the data is sealed and secured by checksum verification