As years go by, many innovative techniques have turned several industries upside down, including the banking sector. The blockchain is one such innovative technology that has drastically raised the opportunities of the business world. Some business experts have predetermined blockchain as a definite game-changing role in the industrial realm.
"The platform’s foundation of insured custody completes the expanding Diginex ecosystem of asset management, trading and exchange, and corporate finance. This effective synthetic bank-grade custody provides a bridge to the impending arrival of traditional custodians, and a plug and play solution when they do finally arrive"
Banking industry finds using blockchain technology, a great gateway to prevent fraudulent actions in banks. The blockchain is a distributed ledger that encrypts every transaction. The entities over the chain can view the transactions. In the banking sector, the blockchain technology fore-checks the security system of the enterprise in order to protect the data prevailing in the particular network. The ledger facilitates the customer to record their details in a secure page and share it with the bank. By sharing the information, the process helps the customer to have a relationship with the bank. It also provides ownership of the data to the customers.
Diginex, Hong Kong-based blockchain service provider, has acquired UK’s Altarian Group for the digital boost. The CEO of Diginex, Richard Byworth says, “The platform’s foundation of insured custody completes the expanding Diginex ecosystem of asset management, trading and exchange, and corporate finance. This effective synthetic bank-grade custody provides a bridge to the impending arrival of traditional custodians, and a plug and play solution when they do finally arrive.” The custody services of Diginex ought to launch in the first quarter of 2019.
As a result of the acquisition, Altarian Group has been added to the financial division of the Diginex. Earlier this month, Diginex acquired 75 percent of the Bletchley Park Asset Management. It was the Jersey- regulated investment firm. The financial details have not been disclosed for both, the Altarian acquisition and Bletchley Park Asset acquisition. Diginex is the one source-destination where many companies find solutions for their blockchain-related issues. Diginex provides HPC infrastructure solutions to the companies that seek help.
Diginex operates around 50,000 GPU servers with ten petaflops. Diginex has focused on improving its blockchain infrastructure world around five to eight circles to provide a solution for the specific industries like digital ID and voting. Usage of bitcoin and cryptocurrency has been slowly increasing in the banking sector.