Blockchain technology continues to make a big impact on the fintech sector. A lot of opportunities have yet to be fully explored in this regard. There is a growing need for innovative solutions. Using a distributed ledger can make a rather big difference in this regard. As such, we see fintech startup Blanc Labs partner with R3 to incorporate blockchain into their products. It is a positive development for the Corda platform as well.
In the world of blockchain providers, few companies stand out above the rest. R3 is definitely one of the top service providers in this regard as of right now. Their blockchain platform, known as Corda, is appealing to a lot of different companies as we speak. It can be used to accomplish many different goals in the future. Blanc Labs has similar expectations of this solution and how it will help devise smart strategies for new use cases.
Blanc Labs Sees Merit in Blockchain Technology
It is worth mentioning Blanc Labs is focusing on a lot of different concepts. More specifically, it is possible this technology will be sued for treasury reconciliation. Lower-cost transactions are also of great interest for the fintech company. It is evident the blockchain will affect financial services as we know them today. That can only be considered to be a good thing, as the financial sector has seen little innovation over the past fifty years.
Blanc Labs CEO Hamid Akbari explains the decision as follows:
“Partnering with R3 is a significant step for Blanc Labs in providing enterprise-grade blockchain solutions and digitizing Customer Journeys. There is a growing interest and a real demand from our clients to help understand the implications of blockchain, and we’re committed to helping bring this emerging technology from proof-of-concept to commercial implementation.”
With Corda, Blanc Labs hopes to explain the best features blockchain has to offer. This includes using smart contracts, disintermediation, enhancing payment systems, and so forth. Whether or not any real-life use cases will come forth from this partnership, remains unknown at this time. 2018 Will be the year during which blockchain projects will have to deliver first and foremost. So far, that has not happened in any significant capacity.
Header image courtesy of Shutterstock