• App Chains
  • Use Cases
  • Finance

Introduction

These use case has been developed specifically for finance projects looking to launch Web3 services using Ankr App Chains. The information contained here is not intended to provide strict rules, but rather loose guidelines to help developers think about where to start constructing their ideal App Chain.

Problem

Finance has long been contrained by the limitation of Web2. Banking and financial services in their classical form are often unable to trickle down to developing part of the world such as Africa, part of South Asia, Latin America. Unfamiliar with their benefits, people in these countries have a inherent mistrust of banks, which makes their adoption even harder. Meanwhile, new and exciting DeFi opportunities are often percieved as bringing more freedom and independence from financial institutions. They appear as exciting opportunities to many who want to enter and profit from finance.

An extreme case can be made with people in distant African regions, who run a local banking system among themselves, where every unit or member of their community contributes to the "bank" — a person in charge of the collective fund. This fund then can benefit a unit, which is a family, by the decision of the community, and give an opportunity otherwise unreachable — to buy appliance or machinery needed for local production, or even to build a house. The same pattern can be seen in Asia, where members of the family put their saving together to buy a lodging for the oldest. In some time, another round takes place providing a lodging for the next oldest person and so on.

All these cases have a distinct pattern — people are keeping their savings at hand, in cash, because they mistrust classical financial institutions.

Blockchain, specifically DeFi that has been rapidly growing in popularity last 2 years, presents a perfect opportunity. It's times easier, both legally, time-wise and marketing-wise, to create an online service on a technology perceived as freeing and hence desired, than it is to establish a bank and persuade people to come to it.

Solution

Blockchain, specifically a modular set. A modular blockchain offers greater customization.

App Chains are a perfect case for that. It's an ecosystem of modules that tailed specifically to your needs into your own App Chain instance.

Ankr develops & launches your App Chain with your specific infrastructure needs including such modules as:

  • Validator nodes — the core of any PoS blockchain, they process transactions and add new blocks to the chain.
  • Full nodes — enable developers to communicate with (and build on) your App Chain using RPCs.
  • RPC endpoints — track and analyze transactions, addresses, and blocks on your App Chain.
  • Block explorers — a complete visual set of accounts and their history.
  • Testnets & faucets — free testnet tokens for developers to test what they're building on your App Chain.
  • Staking mechanisms — staking functionality and a UI interface to enable users to stake native tokens to your App Chain through a simple, elegant interface.
  • Wallet integrations — wider adoption among users of different crypto wallets where they store funds.
  • Bridging solutions — bring tokens from other network to your App Chain or bring your native tokens to other platforms.
  • On-ramp solutions — enable easy transfers between fiat and crypto and back for the users.

What you get from using App Chains

With App Chains you get unbeatable benefits:

  • Complete regulatory compliance and KYC through Ankr’s DigiVerif KYC solution
  • No data leaks
  • Great privacy protection
  • Sustainable high throughput for financial transactions
  • Fast, dedicated infrastructure for your dApp
  • Extremely low transaction (gas) fees
  • Dedicated mempool
  • No competing for resources
  • Enhanced UX
  • Go to market faster

New benefits

Blockchain brings several new benefits to finance:

  • New ways to provide yields
  • New financial products
  • Fast & efficient global transactions
  • Access to new digital Economies
  • Central Bank Digital Currencies (CBDCs)

Safety & compliance

Ankr App Chains bridge the gap for banks to join Web3, helping them participate in the DeFi sector in a compliant manner. This allows you to provide the benefits of the cryptocurrency and blockchain world without the risks that regulators are wary of.

Security through permissioned blockchain

App Chains offer a permissioned setup where all the critical decisions and mode of operation are controlled by you as a client. A permissioned setup is similar to the original one, but is enhanced with:

  • Data access layer
  • DigiVerif KYC solution
  • Advanced user authentication
  • Sophisticated data sharing
  • Controlled set of your own validators
  • Ability to meet stringent regulatory compliance requirements
  • Ability to reach untapped markets and onboard enterprises and industries from Web2 to Web3

Who is it for?

App Chains fit:

  • Local & enterprise banking
  • Traditional finance
  • Investment funds
  • 401 (k) — Retirement
  • Index funds
  • Mutual funds
  • IRA
  • ETFs
  • CBDCs
  • Local governments

A little more about the options.

Staking Yields

Provide enterprise-grade staking that offers an APY much higher than traditional fixed income products.

Fiat Onramps

Allow your customers to purchase digital assets securely and expand their portfolios.

401(k) & Index funds

Add more diversity and higher yields to funds with more digital finance tools at your disposal.

Custodial Wallets

Custodial wallets provide a simple and effective way for inexperienced customers to gain exposure to digital assets and store them securely.

Private & Central Banks

Private and public banks can take advantage of increased transparency, faster and cheaper global transfers, and decreased overhead costs.

Stablecoins & CBDCs

These cryptocurrencies allow for fast global transactions without the volatility traditionally associated with digital assets.

Guidance and support through exchange-readiness program

You can leverage Ankr’s expertise and guidance when applying to get your token listed on major CEXs.