Chain is a provider of blockchain technology solutions for financial institutions so that they can launch their own blockchain-based products or services

Country: United Stateschain
Year: 2014

  • Technical enabler: Chain removes the technical difficulties so that financial institutions could launch blockchain-based services/products.

Concept

  • Chain is a platform enabling financial institutions to create, issue, store and streamline the processing of buying and selling assets (foreign currencies, stocks, corporate bonds, etc.) on private blockchain networks. Chain is based on the Bitcoin protocol and can be used with other cryptocurrencies.
  • Chain’s platform includes several components to connect to and transact on a blockchain network: APIs and SDKs for rapid prototyping, network nodes for production and deployment, and open protocol for assets and contracts.
  • Chain enables developers to send their transactions (of digital assets) from their network to the blockchain in a very simple way.
  • Chain currently partners with the NASDAQ testing the blockchain in its Private Market – a marketplace for pre-IPO trading of shares in private companies (pilot launched in May).
  • Chain’s main competitors are Microsoft (cloud-computing API platform Azure) and IBM (with its blockchain prototyping solution Hyperledger).

Consumer Benefits

  • Outsource expertise: institutions looking to implement blockchain technology can buy the Chain package without the need to build expertise internally or recruit for the project.
  • Tailor-made: Chain adapts its products and services to each client.
  • Customer support: Chain has a post incident analysis providing its users with timestamped records of events, steps for remediation and a recover procedure.
  • Security: In order to ensure data integrity, all communication with Chain.com is encrypted.

How To Use

  • To find out more, firms can schedule a demo through Chain’s website or by contacting them directly.

Illustration

  • Chain demonstrates the Chain Wallet API for developers