Cost Savings and Efficiency
RBN is leading the way in the development and delivery of Blockchain-as-a-Service (BaaS), due to its novel and scalable approach to database indexing and smart contracts, allowing businesses, institutions, and users to increase efficiency and reduce costs.
The Challenge
Many businesses and institutions see the value of blockchain technology, but have not yet been able to make full use of it. Benefits of blockchain include having a decentralized database that companies do not need to maintain themselves, increased efficiency in transferring assets and information, as well as being able to automate costly processes through the use of self-executing smart contracts.
Despite these benefits, many blockchains have not yet found institutional adoption, largely due to their inability to directly meet institutional needs. That is where RBN, working with the EU, is set to finally allow businesses, both large and small, to fully make use of blockchain technology.
A Relational Blockchain
Based on the indexing and architecture of a traditional relational database - used by the majority of the world’s most popular websites and apps - RBN is able to provide a sophisticated and business-friendly experience.
Advanced querying allows businesses to perform complex processes and to store vast amounts of information in a way that is compact and well-indexed. By taking inspiration from what already works, RBN delivers a familiar experience with added benefits.
Companies currently spend vast sums of money on their IT systems and must maintain them internally. By outsourcing much of their technology requirements to RBN, companies are able to save big on their infrastructure costs, while using a technology that is decentralized, so no one can take it down, and maintained by the EU.
Improved Efficiency
A key benefit of blockchain technology is the ability to tokenize assets and other forms of data. A bond, a stock, and a piece of intellectual property are very different in the current picture we have, but can all be brought on-chain and interact with each other in a much smoother and more seamless way, as, on-chain, they’re all just data.
This tokenization of any asset gives institutions a new way to trade, communicate, and do business, both internally and externally. Increased liquidity for previously illiquid assets is another benefit, as well as having a shared public ledger that is tamperproof and immutable.
The RBN is specifically designed for institutional adoption and removes many of the issues we currently see with blockchains like multiple users competing for block space.
Dapps for Automation
Smart contracts are self-executing programs that will execute a function when given conditions are met. Smart contracts is a concept first developed by Ethereum and all dapps on the RBN ecosystem have the same features of smart contracts, executable code that can run programs. The code of the dapp (Smart Contracts) is stored in the blockchain and RBN Nodes execute the code. The fact that it is stored on the blockchain means that the executable code can not be tampered with. Our dApps are capable of replacing many costly and inefficient processes and improving efficiency for organizations.
RBN stands out due to its use of the Rell program language, a unique relational blockchain programming language that is easy for developers to learn and is more expressive and secure than current popular blockchain languages.
An additional benefit is the innovative approach to gas fees. In other blockchains, users must compete for block space on the blockchain to process their transactions. This leads to high prices, known as gas fees, to get their transaction recorded and can cause transactions to fail. While also hindering a seamless user experience.
RBN has a more flexible model and removes these issues. Our dApps offer flexibility in determining who bears the cost of transactions - it can be the dApp owners or the end-users themselves. This customizable approach enables seamless transactions, ensuring an unhindered user experience. By catering to different business models and user preferences, RBN creates a more adaptable and user-centric blockchain environment.
This means that institutions can make use of our dApps and core functionalities served under the concept of smart contracts, trusting that they will process secure transactions, and thus make use of the benefits of self-executing programs.
RBNeco - Partners
For an Equitable Future
Allowing companies to outsource their infrastructure to a decentralized and impartial provider reduces costs, while addressing the issues that users and companies face when it comes to using blockchain and smart contracts provides a practical and easy-to-use solution.
Working in conjunction with the EU, ChromaWay’s RBN is ready to solve the problems of today and tomorrow, by making it easier and more efficient to do business. We are committed to building relationships and trust between parties and to provide user-friendly and accessible applications that make a real difference in people's lives.
