Problem: Technology Gaps for Digital Currency Usage

The Client transacted with decentralized digital currencies, including Bitcoin, Ethereum, and other types of cryptocurrencies. Centralized governmental oversights did not regulate the alternative currencies in use. With its decentralized transaction ledgers spread across multiple peer-to-peer (P2P) networks, the Client confirmed transactions without any interventions from any central clearing authority.

It was critical to integrate advanced blockchain technology solutions to:

• Journalize exchange transactions in a more organized and transparent way.
• Secure monetary supplies and fund transfers with the latest blockchain encryptions.
• Create more nodes to broadcast the excessive load of digital currency transactions to existing or new P2P networks.
• Construct more stringent nodes to validate user identity and ongoing transactions.
• Add new data blocks to handle multiple transactions and leverage the superior benefits of Blockchain-enabled digital currency.

The difficulties of implementing blockchain and related resources prevented end-to-end adaption of blockchain-enabled digital currency. Our Blockchain teams, specifically those dealing with digital currency, assessed the existing IT infrastructure and found gaps in tracking accuracy, recorded transactions, and cost controls.

The Xtrictech 3PL Blockchain Technology Advantage

The crypto risk managers and blockchain experts at Xtrictech 3PL joined hands to address the Client’s complex digital currency risk management concerns. The end-to-end blockchain solutions:

• Paved the path for positive business results with the timely handling of cryptocurrency regulations, valuation, and modeling.
• Deployed scalable Blockchain-aided cryptocurrency ecosystems to assure accurate client holdings and transactions.
• Traced and reported real-time frauds with the help of advanced blockchain analytics tools and statistical models.
• Mitigated the AML risks of critical financial transactions through advanced analytics and anti- money laundering tracking systems.
• Integrated Anti Money Laundering (AML) compliance nodes to handle regulatory issues and frauds faced by the Client’s global financial institution.

Overall, our efforts to include the best digital currency security practices, transaction wallets, and digital currency exchange models brought many positive changes to the Client’s cryptocurrency landscape.

Benefits of Using Blockchain Technology in Digital Currency Management

After filling the technology issues faced by the Client, it was easy to introduce its digital currency teams to the most significant benefits of using Blockchain technology.

• Securely locked cryptographic codes and systems to guarantee successful transactions.
• Steady increase in ROI with high-powered digital currency aided by chained blocks broadcasted across network nodes.
• Singular, centralized platform to schedule investments and buys.
• Use of Blockchain databases and ledgers to conduct well-informed trade.
• Lightning-fast, transparent, and reliable digital currency transaction capabilities to enable secure trade on all cryptocurrency exchanges.

The Client started using our latest blockchain technology solutions to verify and trace its numerous transactions. Resultantly, there was a marked decrease in compliance costs. In addition, more secure digital currency transactions, combined with speedier data transfer processes, helped the Client deliver more impactful financial services.

Xtrictech 3PL was instrumental in stacking the Client’s digital assets in robust and offline storage systems. Furthermore, our crypto insurance products were helpful in safeguarding these digital assets at cost-effective prices. In addition, the inclusion of globally accepted practices, backed by our blockchain capabilities, assured the Client of safer transactions of all tradable forms of digital currencies.