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Loading...Introduction to RegTech Compliance Platforms
Last quarter, our team discovered that building a RegTech compliance platform is a critical step for financial institutions to ensure they meet regulatory requirements. We explored three blockchain-based solutions: Hyperledger Fabric 2.4, Corda 5.0, and Accord Project. Here's what we learned.
The Problem with Traditional Compliance Systems
Traditional compliance systems are often manual, time-consuming, and prone to errors. They can also be costly to maintain and update. When we tried to implement a traditional system, we realized it wasn't scalable and didn't provide the level of transparency and security we needed.
Hyperledger Fabric 2.4: A Decentralized Approach
Hyperledger Fabric 2.4 is a decentralized platform that allows for the creation of private blockchain networks. We found that it provided a high level of security and transparency, but it required significant development and maintenance efforts.
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