Blockchain is transforming banks, credit, and other organizations by reducing their costs, decreasing fraud, and providing new options to seamlessly integrate the financial system.
The NOOB Platform is design to eliminate the performance and scalability bottlenecks that prevent financial services companies from embracing the technology for many use cases. The follow use cases are a few financial services use cases where the NOOB Platform can provide a solution.
- Blockchain ledgers are immutable, and cannot be altered once they have been confirmed. This allows banks to easily forward information to compliance departments and regulators, and trust that the data is accurate and hasn’t been tampered with.
- There will always be proof of a transaction, making paper receipts with fading ink obsolete. This reduces disputed transaction counts.
- More information to track fraud and money laundering