Prototype
The XDSOFT team has developed a prototype of "Deposit Insurance" using blockchain technology with solutions based on Ethereum and Hyperledger, and conducted a comparative analysis.
To gain access to the prototype, contact us by phone at +7 (495) 989-84-02 or by email at info@xdsoft.ru
Goals
Increase transparency in deposit accounting and insurance.
Challenges
- Double bookkeeping. Undeclared deposits "bypassing the register."
- Claiming compensation for non-existent deposits.
- Compensation to straw men. Participation of bank employees and management.
- Theft of insurance funds through the creation of fictitious deposits.
Participants
- Depositors
- Banks
- CB/ASV (Central Bank/Deposit Insurance Agency)
Achieved goals
Depositor
- Can control the registration of the deposit in the insurance system.
- Automatically receives a decision on the insurance compensation amount in the event of an insured event.
Bank
- Deposit accounting is maintained in an electronic depositor registry.
- Data cannot be falsified or distorted.
- Increased customer trust.
CB/ASV
- No access to personal data.
- Quick confirmation of the insurance compensation amount based on registry data.
- Accurate reporting from banks that can be cross-checked with the blockchain registry.
- Transparency of deposit history.
- Legal measures can be applied to participants in the deposit insurance system upon detection of violations based on the registry data.
The implemented blockchain-based solution allows
- To control deposit accounting in the insurance system without disclosing deposit data.
- Provides a reliable, persistent storage for deposit reconciliation.
- Integrates into the current business process without disrupting it (does not cancel reports but extends them).
- Minimizes information security risks (even in the event of key compromise, registry data cannot be restored by the attacker).
- Minimizes data storage volumes compared to other solutions.
