Blockchain Solutions

About the service

What is blockchain technology?

Blockchain technology is an advanced database mechanism that allows transparent information sharing within a business network. A blockchain database stores data in blocks that are linked together in a chain. The data is chronologically consistent because you cannot delete or modify the chain without consensus from the network. As a result, you can use blockchain technology to create an unalterable or immutable ledger for tracking orders, payments, accounts, and other transactions. The system has built-in mechanisms that prevent unauthorized transaction entries and create consistency in the shared view of these transactions.

Why is blockchain important?

Traditional database technologies present several challenges for recording financial transactions. For instance, consider the sale of a property. Once the money is exchanged, ownership of the property is transferred to the buyer. Individually, both the buyer and the seller can record the monetary transactions, but neither source can be trusted. The seller can easily claim they have not received the money even though they have, and the buyer can equally argue that they have paid the money even if they haven’t.

To avoid potential legal issues, a trusted third party has to supervise and validate transactions. The presence of this central authority not only complicates the transaction but also creates a single point of vulnerability. If the central database was compromised, both parties could suffer.

Blockchain mitigates such issues by creating a decentralized, tamper-proof system to record transactions. In the property transaction scenario, blockchain creates one ledger each for the buyer and the seller. All transactions must be approved by both parties and are automatically updated in both of their ledgers in real time. Any corruption in historical transactions will corrupt the entire ledger. These properties of blockchain technology have led to its use in various sectors, including the creation of digital currencies.

What’s part of the service

Comprehensive offerings to guide your blockchain journey.

ASOLI Digital helps clients explore every aspect of blockchain and build tailored solutions designed to deliver value. Through architecture, digital design, and development, we serve our clients in their quest for innovative blockchain solutions that are market-ready and address real business issues.

Blockchain services

Blockchain technology is emerging as a business focus for organizations in several industries, including consumer products, manufacturing, financial services, health care, life sciences, and public sector. ASOL Digital helps companies and organizations achieve many goals with respect to blockchain implementation—innovation and ideation, strategy development, prototyping, and product development. Our services to guide your blockchain journey include:

Innovation and ideation

• Continuously identify relevant use cases to harvest the benefits of blockchain technologies
• Collaborate with clients to evaluate existing processes, pain points, and goals to brainstorm domains for blockchain adoption
• Enable clients to grasp the broad innovation landscape of blockchain opportunities through our thought leadership and growing ecosystem tracking

Strategy development

• Lead clients in defining blockchain goals and objectives as part of their unique journey with a strategic plan to define “where to play and how to win”
• Craft comprehensive business cases to enable executive buy-in to drive business, technology, integration, talent, and consortium operating models
• Develop strategies to pilot and implement blockchain based solutions for prioritized/selected use cases

Prototyping

• Accelerate build of blockchain prototypes, leveraging our technical expertise, industry knowledge and partnership across platforms, to satisfy unique client requirements
• Leverage our library of over 30 proof of concept solutions to serve as accelerators across supply chain, loyalty, know your customer (KYC), trade finance, identity, payments, and more
• Define an iterative and flexible approach to match the rapid changes in the ecosystem

Product development

• Mobilize our highly trained and technical global blockchain practitioners to not only re-engineer business processes but also build applications
• Deliver as one team in partnership to leverage advanced and effective blockchain technology vendor platforms to cater to client requirements
• Offer our broad set of services, across compliance, technology, talent, operations, and tax, to effectively integrate your blockchain solution

We help both startups, enterprises and large organizations leverage the decentralized network built on the Blockchain and offer all the other services in IT Consulting, Development, and Outsourcing. We apply the power of Blockchain Technology in solving real-world problems by introducing a new level of transparency, efficiency, and automation in businesses.