Blockchain technology development in finance


Modern technology is able to transform established business processes and radically simplify their weak sides. Blockchain is experimental technology but its popularity continues to grow. In order to be convinced of that, you need just to look at many banks and FinTech companies announced the start of their own technology development projects in blockchain.

No doubts, nowadays it is extremely difficult to gain the trust of your clients on the market. Eulerr is a transparent platform with professional blockchain developers, making application in finance sphere and learning all sides of this sector. We offer you to upgrade your project with this revolutionary technology and give a positive impression to your clients. We hire a team of agile developers, whose main goal would be to stand out your product from the crowd. And now we are going to tell you how it works.

Blockchain can be used in areas, where there is a risk of being cheated or receive wrong data due to errors in transmission.

Nowadays, finance offers the strongest ways of using for this technology.

Blockchain is decentralized database, which storage devices are not connected to a common server, but located at the same time on all devices. Due to this fact, a full copy of the information databases kept by each participant. So, it is guaranteed the permanence of the whole chain of operations.

This advantage allows to use the blockchain as a documentary evidence or confirmation of the transfer of assets. Blockchain makes transactions, involving a risk of a breach of obligations by one party of transaction, safer. For changing even one block of information requires unrealistically huge capacity. Information is stored on all devices connected at the same time. So, they are virtually invulnerable.

Intermediaries are not necessary now

In the process of blockchain’s creating the main goal of the developers was avoiding from the intermediaries (such as financial institutions or payment systems). All operations and information are transferred directly from one user to another (using peer-2-peer protocol) and transactions are not under anyone’s regulation.

Smart contracts

Services, which include the contract terms between the parties and keep them in the blockchain, are able to automatically executes the agreement under certain conditions specified in the contract. It helps to reduce various costs and bureaucratic costs, as well as any interference of a third party.

Identification and confirmation of access rights

Nowadays, banks and other financial institutions need to perform a huge number of actions to verify each new client. So, the process of collecting and verifying information can be delayed for some hours. Imagine, how blockchain can simplify this process, keeping the information about a client in a distributed database. Any changes in the client data will be instantly distributed among all participants of the blockchain.

Photo by Sanwal Deen on Unsplash

The financial services Agency of Japan and some financial institutions are working on developing a unified identification system, using the blockchain for the customers. It is planned that the system firstly will be launched in the three largest banks — Bank of Tokyo-Mitsubishi UFJ, Sumitomo Mitsui Banking Corp and Mizuho Bank.

The system allows customers to open an account in few banks and financial institutions without provision personal information twice. In other words, a client of the bank, opening first account in this bank, register ID number. When a person wants to open second or third account in another Bank he just need to provide ID number, using the app on smartphone and confirming personality with fingerprint or facial scan. However, customers will still have to prove their identity through email.

Our teams did the following Financial projects for the Blockchain platform


Team: EvolTech .

Next generation platform for more efficient, intuitive and transparent experience in communications, marketplaces and financial trades built using the latest in blockchain technology.


Principles of our work with a client

First of all, we don’t work with freelancers. In our personal opinion, one separate blockchain developer can’t in a short period work in all areas at once. Only a group of masters in blockchain development platforms, which is specifically handpick to your needs. Our product manager helps to choose a team for your project, which would satisfy all your needs. We have more than 50 teams with an experience of cooperation with international companies and brands and have a high rating. They are fluent in English, both writing and speaking. The first two-weeks period is trial. If your expectations doesn’t match the reality, we change a team to find more appropriate decision. Only after complete satisfying with the results, we will charge you for the time and continue with our collaboration.

Start a new project. No risk, no fees. We practice only
performance payment.

Innovative financial projects are closely connected with the Blockchain technologies.

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