Californian Fintech Firm Releases Easy-To-Use Blockchain Platform
Manifold Technology has made its patented blockchain platform available to allow non-technical developers to build enterprise-ready, blockchain-enabled applications. Users do not have to be blockchain experts to build and deploy applications.
The platform has already been used to transform the Royal Bank of Canada’s rewards program, and to enable R3CEV consortium member banks to demonstrate instant trading of fixed income assets.
Expanded Transaction Handling
Where bitcoin’s throughput is limited to seven transactions per second, Manifold’s platform can handle more than 10,000 transactions per second in operational environments, surpassing the largest credit card companies that can handle between 2,000 and 8,000 transactions per second.
Chris Finan, CEO, noted that he and his partner, Rob Seger, knew the public blockchain did not provide the speed or security financial services firms require. “We are proud to release this platform so that more companies will be able to use blockchain technology at speeds that were unimaginable two years ago,” he said.
The platform infuses modern data storage with blockchain technology. Developers can leverage the power of a blockchain without being bogged down by the complexities, while preserving a distributed database’s analytical strengths and scalability.
The platform is owned and operated by the entity deploying it, providing blockchain-enabled transparency without susceptibility to external manipulation. Manifold makes creating a payments infrastructure, asset exchange payments or other settlement or asset management application simple.
Also read: World Economic Forum: Blockchain technology will change financial infrastructure
Improving Modern Finance
Finan, a former White House cybersecurity advisor, and Seger, a former government security technology expert, launched Manifold in 2014 seeking to bring greater accountability and efficiency to modern finance.
Manifold Technology recently joined Microsoft’s blockchain-as-a-service (BaaS), CCN.com reported earlier this year.
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