{"id":89086,"date":"2022-03-01T14:43:37","date_gmt":"2022-03-01T14:43:37","guid":{"rendered":"https:\/\/coforge.site\/cigniti\/?page_id=89086"},"modified":"2022-09-16T15:18:28","modified_gmt":"2022-09-16T15:18:28","slug":"blockchain-testing","status":"publish","type":"page","link":"https:\/\/coforge.site\/cigniti\/industries\/banking\/blockchain-testing\/","title":{"rendered":"Blockchain Testing Services for Banking"},"content":{"rendered":"

[vc_row full_width=”stretch_row” el_class=”main-banner”][vc_column][vc_row_inner][vc_column_inner width=”2\/3″][vc_custom_heading text=”Digital Assurance is Imperative for Successful Blockchain
\nImplementations in Banking Industry” font_container=”tag:h1|font_size:38px|text_align:left|color:%23ffffff|line_height:45px” google_fonts=”font_family:Open%20Sans%3A300%2C300italic%2Cregular%2Citalic%2C600%2C600italic%2C700%2C700italic%2C800%2C800italic|font_style:600%20bold%20regular%3A600%3Anormal” css=”.vc_custom_1646210048869{margin-bottom: 15px !important;}”][vc_column_text]<\/p>\n

Stay Ahead With Blockchain Testing Services for Banking<\/h2>\n

[\/vc_column_text][vc_btn title=”Go Digital” style=”flat” shape=”square” color=”warning” size=”lg” link=”url:%23contact|||” css=”.vc_custom_1644919445407{margin-top: 25px !important;}”][\/vc_column_inner][vc_column_inner width=”1\/3″][\/vc_column_inner][\/vc_row_inner][\/vc_column][\/vc_row][vc_row bg_type=”bg_color” bg_override=”full” el_class=”section-bg” bg_color_value=”#f2f2f2″][vc_column width=”1\/2″][vc_custom_heading text=”Address the Bottlenecks of Vendor Financing With Blockchain Powered by Hyperledger Fabric and Smart Contracts” font_container=”tag:h2|font_size:36px|text_align:left|color:%23000066|line_height:40px” google_fonts=”font_family:Open%20Sans%3A300%2C300italic%2Cregular%2Citalic%2C600%2C600italic%2C700%2C700italic%2C800%2C800italic|font_style:300%20light%20regular%3A300%3Anormal”][\/vc_column][vc_column width=”1\/2″][vc_column_text]Vendor Financing naturally aligns with blockchain technology given the attributes of immutability and transparency. Vendor financing is a funding arrangement where a vendor\/seller assists a customer\/buyer in availing finance either directly or indirectly. The customer uses the finance to purchase the vendor\u2019s goods or services and is also known as supplier finance or trade credit.<\/p>\n

The World Forum predicts that 10% of global GDP will be stored in blockchain by 2027. They define blockchain as a reliable, difficult-to-hack record of transactions – and of who owns what, based on Distributed Ledger Technology (DLT), which securely records data across a peer-to-peer network.<\/p>\n

Organizations all over the world are then turning towards blockchain technology to be able to secure, store, and manage digital identity and data in a safe platform.<\/p>\n

Banks of today demand cost savings from increased speed, efficiency, and automation. By greatly reducing paperwork and eliminating fraudulent contracts, blockchain significantly reduces overhead and transaction costs, and reduces or eliminates the need for third parties or middlemen to verify transactions. This can be achieved by introducing a versatile decentralized finance (DeFi) infrastructure.[\/vc_column_text][\/vc_column][\/vc_row][vc_row bg_type=”bg_color” bg_override=”full” el_class=”section-bg”][vc_column][vc_row_inner][vc_column_inner el_class=”vendor-lm” width=”5\/12″]

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Bottlenecks in the current Vendor Financing process<\/h3>\n

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Extensive paperwork<\/h5>\n
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Different versions of the supply chain information<\/h5>\n
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Chances of data manipulation<\/h5>\n
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Manual intervention from the parties<\/h5>\n
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Delayed access to funds<\/h5>\n
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Multiple intermediaries create friction and bottlenecks<\/h5>\n
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Lack of visibility in the supply chain<\/h5>\n
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Distrust between the parties in transaction<\/h5>\n
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How Blockchain is solving it?<\/h3>\n

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Digitized trade data<\/h5>\n

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Single source of truth<\/h5>\n

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Immutability<\/h5>\n

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Smart contracts<\/h5>\n

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Real time disbursement<\/h5>\n

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Zero intermediaries<\/h5>\n

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End to end traceability<\/h5>\n

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Trust<\/h5>\n

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Apart from providing a seamless experience to the users who want faster transactions, Hyperledger Fabric helps banks stay updated with the latest technologies and protects them from cyber-attacks. Reap the benefits of Blockchain powered by Hyperledger Fabric. Know more ><\/a><\/p>\n

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You can reap the benefits of Blockchain powered by Hyperledger Fabric.<\/p>\n

[\/vc_column_text][\/vc_column_inner][vc_column_inner width=”1\/6″][vc_btn title=”Know how” style=”flat” shape=”square” color=”warning” size=”lg” link=”||target:%20_blank|” css=”.vc_custom_1636527209910{margin-bottom: 0px !important;margin-left: -50px !important;}”][\/vc_column_inner][\/vc_row_inner][\/vc_column][vc_column width=”1\/6″][\/vc_column][\/vc_row][vc_row bg_type=”bg_color” bg_override=”full” el_class=”section-bg blockchain-testing”][vc_column][vc_custom_heading text=”Blockchain Testing” font_container=”tag:h2|font_size:36px|text_align:center|color:%23000066|line_height:40px” google_fonts=”font_family:Open%20Sans%3A300%2C300italic%2Cregular%2Citalic%2C600%2C600italic%2C700%2C700italic%2C800%2C800italic|font_style:300%20light%20regular%3A300%3Anormal”][vc_row_inner][vc_column_inner width=”1\/3″]

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Testing<\/h3><\/div>
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