From the start, our mission has been to create a more open financial system. We’re proud to announce we have our own approach to enterprise blockchains to add greater security to the Paystand Bank Network. The blockchain creates a record for every transaction we process. That record can't be altered in any way, assuring transactions are valid and free of tampering. It’s a benefit only our customers have enjoyed using our zero-fee network. We call it Payment Assurety.
But payments were just the beginning. We believe that Paystand, companies in other sectors, and the world can all benefit from a more open, secure, and verifiable system. Starting today, you can use Assurety-as-a-Service to confirm any event, action, or identity in real-time. Your business now has an accurate way to prevent fraud and forgery.
If you have to verify the authenticity of an important transaction today, you can use a notary. This is a solved problem. But this practice is time-intensive, impossible to scale, and only as good as the humans that enforce it. What hasn’t been solved is how to accurately verify large volumes of data without human tampering.
That's what Assurety does. It creates a digitally notarized record trail that is secure, certified, and fully auditable. This is an important step in adding greater transparency to the financial system and the world at large. We call it Open Industry. And, in time, we plan to play an important role in shifting our systems from "don't be evil" to "can't be evil.”
Ultimately, the use cases for a transparent, verifiable record are practically endless. Here’s a sneak peek of what is possible with Assurety-as-a-Service:
Enterprise blockchain is a decentralized ledger technology tailored for business use. Unlike public blockchains, it is permissioned, meaning only authorized participants can access and validate transactions. This makes it ideal for industries requiring high security, scalability, and compliance.
At its core, enterprise blockchain creates an immutable record of transactions, ensuring data integrity and eliminating the risk of tampering. It’s a game-changer for industries looking to streamline operations, reduce costs, and build trust.
Enterprise blockchain uses cryptographic techniques to secure data. Once a transaction is recorded, it cannot be altered, ensuring a tamper-proof system. This is particularly valuable for industries like finance, healthcare, and government, where data integrity is critical.
By automating processes and eliminating intermediaries, enterprise blockchain reduces transaction times and operational bottlenecks. Smart contracts, for example, execute automatically when predefined conditions are met, saving time and resources.
Blockchain reduces the need for manual intervention and third-party verification, significantly lowering operational costs. For businesses, this means faster settlements and reduced overhead.
Every transaction on the blockchain is recorded in a shared ledger, visible to all authorized participants. This transparency builds trust among stakeholders and ensures accountability.
Paystand is at the forefront of leveraging enterprise blockchain to revolutionize financial systems. Here’s how:
Paystand’s blockchain-based Payment Assurety ensures every transaction is recorded on an immutable ledger. This eliminates the risk of fraud and tampering, providing unparalleled security for businesses.
By automating payment workflows and reducing reliance on intermediaries, Paystand streamlines transaction management. This results in faster processing times and improved cash flow for businesses.
Paystand integrates smart contracts to automate payment terms and conditions. This reduces manual errors and ensures timely, accurate transactions.
With blockchain, Paystand provides a fully auditable record of every transaction. This enhances compliance with regulatory requirements and builds trust among stakeholders.
Enterprise blockchain is transforming industries across the board. Here are some examples:
Paystand continues to innovate with enterprise blockchain. Our vision is to create a financial system that’s not just secure and efficient but also transparent and accessible to all.