Financial players today need to choose between platform- and business model-based approaches to understand, explore, and eventually adopt blockchain technology. A platform approach requires multiple validation cycles, which increases the time required. On the other hand, a business-model-first approach risks longer conceptualization cycles, due to lack of timely feedback.
The offering is based on a set of core guiding principles, with a ‘reference’ implementation.
A sponsorship model offers controlled onboarding of member participants and defines governance mechanisms.
Trusted and verified processing nodes, instead of public nodes, ensure solution integrity.
A distributed flat ledger with digitally signed information with controlled role-based access to the ledgers ensures privacy of information.
A simple, ready-to-use version of the platform is available for use. A number of PoCs across the business domains of value transfer, information registry, and digital notary have been built on the platform. Alternative platforms, based on bank’s preferences, are also supported.
Articulate blockchain strategy/roadmap
Validate and develop relevant use case details tailored for the bank
Leverage blockchain architecture framework and checklists as accelerators
Conduct PoCs/pilots on a simple, ready-to-use platform
Leverage partnerships and hands-on experience with market platforms
Implement projects with enterprise integration