Today’s financial-services business processes involve multi-party workflows that pass messages between independent siloed systems. The flow of messages through these independent siloes introduces delays, is error-prone, requires constant data reconciliation, and uses batch-based processing that slows down end-to-end throughput. (Example: T+2 trade clearing and settlement time after the execution of a stock trade.)
Blockchain technology improves in multi-party workflows by providing a single shared source of truth so that no delays or errors are introduced, no data reconciliation is required, and processing can be near-instantaneous instead of batch-based.
VMware Blockchain was designed to optimize these processes. We have been collaborating with the top financial services companies and have architected our blockchain platform to meet these needs. Benefits include:
- Ensuring the integrity of data, so that states of the ledger are consistent, even under malicious attacks
- Safeguarding data privacy to allow only the intended parties to access the data they are entitled to
- Providing for client verifiability of data to enable members of the network to independently verify that their privacy-filtered shard is consistent with the single source of truth
You can learn more about VMware Blockchain by attending Blockchain Specialist Tony Bailey’s session at the Blockchain Expo Global Virtual Event on Mar 17-18th 2021. Registration is free. If you cannot attend at this time, register to receive the replay available after the event.