Blockchain technologies are often used to solve two types of customer needs. In the first case, multiple parties work with a centralized, trusted authority to maintain a complete and verifiable record of transactions. An example is a retail customer looking to connect its suppliers with a centralized ledger that maintains a transparent and verifiable history of information related to the movement of a product through its supply chain. In the other case, multiple parties transact in a decentralized manner without the need for a centralized, trusted authority. An example is a consortium of banks and export houses looking to perform cross-boundary transfer of assets (e.g. letter-of-credits) amongst each other, without a centralized authority acting as a liaison.
If you need a centralized ledger that records all application data changes, and maintains an immutable record of these changes, we provide a ledger database. This database is high-performance, immutable, and cryptographically verifiable, eliminating the need for building complex audit tables or setting up blockchain networks. If you need the immutable and verifiable capability provided by a ledger, and also want to allow multiple parties to transact without a trusted central authority, we provide a fully managed, scalable blockchain service. Our blockchain service makes it easy to setup, deploy, and manage scalable blockchain networks, eliminating the need for you to rely on expensive consulting implementations.
Track and verify transactions with centralized ownership
Manufacturers want to store data from multiple systems into a centralized ledger that accurately tracks the production and distribution lineage of their products. In case of issues manufacturers can quickly trace the root cause of defects and take preventive actions.
HR and Payroll systems often have to track and maintain a record of an employee’s details such as payroll, bonus, benefits, and performance history. By implementing a centralized ledger, customers can easily maintain a complete record of the digital history of their employees in a single place.
Insurance: Insurance applications often need a way to better track the history of claim transactions. Instead of building complex auditing functionality using relational databases, insurance companies can use a ledger database to accurately maintain the history of claims over their entire lifetime.
Execute transactions and contracts with decentralized ownership
Trade: Trade consortiums are looking to reduce time and complexity of cross-boundary payments and asset transfers (letter of credit) by directly transacting with multiple parties such as importers, exporters, insurance, and banks in a decentralized way.
Retail: Consortium of retailers want to partner with banks and third-party loyalty programs to streamline customer reward programs without needing a central entity that processes rewards.
Banking: Syndicated loans are ones where a group of banks lend together to a single borrower. In a traditional syndicated loan, banks rely on faxes or emails to share complex information back-and-forth, which delays the process. Groups of banks are looking to execute transactions in a decentralized and trusted way to exchange information quickly and eliminate the need for an intermediary.