SettleNet

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  SettleNet

Inspiration: The inspiration for SettleNet came when e-BIT's founder/CEO, Chriostopher Rufo was having a hard time removing funds from multiple trading platforms in a timely fashion due to the existing T+3 day settlement model. We created SettleNet, powered by xChain which reduces the friction with enterprise level trade settlements by utilizing the blockchain in a private setting.

What it does: SettleNet significantly reduces friction in the traditional T+3 day model by using private blockchain technology to clear trades on average 3 times faster than existing legacy systems.

How we built it: We built SettleNet on a custom made private blockchain protocol called xChain, developed by e-BIT.

Challenges we ran into: We need a banking partner to officially clear actual enterprise level trading activity.

Accomplishments that we're proud of: Utilizing a private blockchain to encode trade and market data as well as a block explorer to decrypt and display trade metadata.

What we learned Private blockchains are a lot more scalable than existing public chains/sidechains and also more secure.

What's next for SettleNet Finding a banking partner and VC..

Built With

• mean-stack
• xchain
• zmq