The Future of Blockchain in Financial Services

Elizabeth Izmailova
Nov 6, 2019 · 4 min read

To stay up-to-date on the progress of our technology, follow us on Twitter, Telegram, Slack, LinkedIn, Facebook and Instagram.

The Centrality venture ecosystem will be at Singapore FinTech Festival on 11–13 November, showcasing the potential for blockchain technology within the finance industry. The future of Finance is a key focus at the event, and we believe this emerging technology is set to transform the way banks, insurers and other FIs operate.

KYC, identity, digital wallet, programmable money, governance, compliance are a few of the many solutions Centrality ecosystem has to offer financial service companies. You can meet Centrality, Sylo, Centrality Fintech, centrapay, Trackback and PLUG teams at the New Zealand Pavilion 5E17 to learn more about how you can utilise these solutions for your business.

Here’s a quick introduction to these businesses and the solutions that they offer:

Centrality: FinTech venture platform creating a decentralized future

Centrality is one of the leading FinTech venture platforms in the world. It provides a complete financial ecosystem that enables consumers to manage everyday tasks and experiences through a blockchain-enabled peer-to-peer infrastructure. Centrality has a growing portfolio with over twenty applications, each working and generating value independently, as well as enabling growth for one another.

Sylo: decentralised communication and social FinTech platform

Sylo, one of our ventures, is the vanguard of data and communications security. Now following the launch of the Sylo Smart Wallet into global app stores in September, a world-first that’s been two years in the making, Sylo is making waves in the social FinTech sector.

A game-changing evolution, the Sylo Smart Wallet combines digital wallet technology with a next-generation messenger. Using the Sylo Smart Wallet, users can connect from the safety of a wallet address, send and receive digital assets in chat, make audio and video calls, and store any ERC-20 compatible token, such as Ethereum or CENNZ, in a non-custodial wallet.

Market response to Sylo’s Smart Wallet release is proving to be overwhelmingly positive, with the platform already experiencing high volume uptake across more than 20 countries so far. As well as being the consumer-facing portal for the Centrality family’s technologies, the Sylo Communications Protocol can also be used to power connected applications, or in enterprise level developments.

Centrality FinTech: financial services innovation in a blockchain environment

Centrality FinTech provides programmable money, digital identity, governance and compliance solutions to help enterprise financial service companies to enhance user experiences, improve efficiency and increase transparency. One of its ventures, Gecko Governance is the first RegTech solution to easily allow fund managers and banks to monitor and manage their regulation and compliance requirements. It enables Bank and Fund Managers to schedule all end to end compliance and regulatory tasks and provides a verifiable independent audit trail of compliance to satisfy global financial regulators.

Centrapay: merchant marketplace for applications

Centrapay uses blockchain technology to empower merchants to engage more consumers, receive real-time insights whilst offering richer experiences and more choices with ways to pay without a third party taking a disproportionate cut:

  • Consumers can pay merchants in real-time with any digital asset, with fiat settlement options.
  • Brands and Merchants can create their own digital assets and campaigns to engage consumers.
  • Other Apps can be connected into payment flows. This enhances the Consumers experience and makes it easy for them to offset carbon, order a taxi, provide feedback on experiences, and more within the checkout process.

Trackback: decentralised traceability platform

Trackback allows any business to attest or prove the authenticity of their processes or products, to gain trust with their end customer. TrackBack’s consortium blockchain is already live. The first Trackback customer successfully wrote 35,000 products to the chain enabling them to prove the origin and authenticity of their product using Centrality’s Doughnut protocol.

PL^G: toolkit for building blockchains

PL^G is a toolkit for building blockchains. Centrality’s network, CENNZnet is the first network to be built on PL^G! PL^G has done the hard work and set up the SDKs and protocols so you can create your own blockchain with ease. Our Attestation protocol provides an on-chain claim registry that aims to make sharing attested identity claims simple and cost-efficient. We’ve created an SDK to interact with your blockchain, providing client-side transactions to use and connect with your blockchain. Through our Generic Asset Runtime, we’ve created the ability for you to establish your own token economy and program how this operates on your network.

Meet our teams at the booth 5E17 at New Zealand country pavilion alongside other innovative Kiwi businesses!


To stay up-to-date on the progress of our technology, follow us on Twitter, Telegram, Slack, LinkedIn, Facebook and Instagram.

Elizabeth Izmailova

Written by

Centrality

Creating a world UNcorporated

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