Organizations around the world are facing challenges that range from budgetary pressures arising from economic stagnation to aging populations. Many have severely constrained resources, including the ability to access and analyse large amount of data and new paradigm shift in security and privacy intrusion.
Blockchain technology based solutions have the potential to make operations more efficient and improve the delivery of services, while simultaneously increasing trust and bring security, efficiency, and speed to a wide range of services and processes.
Blockchain is good for protecting any kind of asset and transaction that needs to be tamper-resistant. In-order to reduce time, cost and risk with transactions, organizations can leverage Blockchain in identity management, citizen welfare services, financial transaction management, asset management, contract management, and regulatory compliance.
Netsmartz Infotech has been delivering services with the use of Blockchain technology to provide solutions for cab/taxi industry, consumer retail, healthcare, and skill development. By using Blockchain, Netsmartz offers resolve to problem relating to misuse of identity, record keeping, fraudulent claim of benefits, employment history management and more.
Our solutions based on Blockchain can help to eliminate layers of redundancy, reducing dependence on existing intermediary institutions and their accompanying layers and costs, ease regulatory compliance burdens, introduce record keeping efficiency, and smooth operations across a number of areas.
Where is Blockchain used?
Currently Blockchain technology is being used in the fintech domain – for international remittances as an example. However new uses for Blockchain are being continually discovered. Sharing medical records across hospitals, distributing legal documents among stakeholders, secure polling in elections are some of them.
- Blockchain Strategy & Consulting
- Use Case Assessment
- Technology Advisory
- Rapid Prototyping
- Development Services
- Solution Build and Implementation
- Cab/Taxi Services
- Consumer Retail
- Skill Development
- Identity Management
- Know Your Customer
- Securing Digital Assets
Our Blockchain capabilities
- Expertise with state-of-the-art Blockchain frameworks
- On-premise private Blockchain conceptualization and development
- Private / Public Blockchain applications
- Smart Contracts creation
- Integrating Blockchain applications with your enterprise applications
- Use of Blockchain frameworks to create smart coins / tokens
- Use of distributed databases with Blockchain technology
Blockchain for KYC
- Identity Management
- Facilitates banks, and other institutions
The mechanism of “KYC” takes advantage of the characteristic of the blockchain, that is, only the owner of the “key” corresponding to the address can initiate processing for that address.
By recording a user’s personal identity information as authenticated by a certification body on the blockchain along with the user’s blockchain address (a public key, hereinafter referred to as “address”), services such as banks can easily and quickly confirm identity.
Once the identity is authenticated by the certification body, it can be verified through verification of the personal information provided by users and the information recorded on the blockchain.
This mechanism can be applied to a usage that requires identity verification, such as opening a bank account, creating a credit card, and trading at token exchange. It leads to a reduction in process to verify identity through sending written documents and a reduction in monetary costs.
The mechanism of KYC takes advantage of the blockchain by reducing the monetary costs and processes involved.
Blockchain for Taxi Industry
- Distributed Marketplace
- Loyalty Reward Points
- Identity Management
Imagine traveling to a new city where the local currency is totally different from where you are coming from, and you need taxi services to take you from the airport to a hotel. Using a Blockchain-powered service automatically eliminates the need for any form of currency conversion as the value of the token remains the same and is available all over the world.
Expedite global remittance via a decentralized system accepting multi cryptocurrencies across a solitary platform.
Blockchain for Retail & Consumer Packed Goods
- Cross Border Payments
- Global Remittance
- P2P Payments
- Inventory Management
The focus is on convenience, security, speed, and cost-saving. A decentralized, independent system gives you complete freedom over when, where and how you conduct your payments. The convenience of a multi cryptocurrency acceptance platform creates a standardized network that can be used by different users around the world, without the need for separate applications.
Blockchain for HealthCare
- Health Records
- Pharma Supply Chain Transparency
- Provider Data Management
- Insurance Claims
Healthcare claims processing is a nightmare for all parties involved. Reimbursement is opaque, fraud is prevalent, and transactions frequently difficult to reconcile. Smart contracts powered by a blockchain could provide consumers and payers with the means to manage claims in a transparent, immutable and responsive fashion. Insurance contracts, premium payments and their respective claims could be recorded onto a blockchain and validated by node consensus, preventing fraudulent claims from being processed.
Preclude fraudulent claims in health care industry via validating claims by node consensus.
How We Work
When you begin your blockchain journey with Netsmartz, we work with an agile and design thinking approach to deliver services you need. And here is a look at how it can work for you.
How to Build Your Team @ Netsmartz
Let us know your requirements
Interview our developers
Select & hire the best
Start project with your new team
Now you can just focus on work!
Leave all the hassles of hiring, salaries, HR management and IT support to us. All you need to do is focus on your project with your new dedicated team! We offer Onshore, Offshore and Hybrid engagement models for our BYT services.