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A purpose-built platform for business finance

True game-changers approach things differently. Rather than adapting existing technology, WeOwn has created a new finance system from the ground up, through our in-house lab.

Blockchain for Finance

In 2017, WeOwn was the first provider on the market to develop a hybrid blockchain that specifically supports the financial services sector and offers maximum security with high scalability and low transaction costs. This includes, among other things, the configuration and issuing of digital assets, transfers between shareholders, special transactions such as dividends or stock splits, as well as trading of such assets. 
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The WeOwn Blockchain

Due to the architecture specialised in financial transactions, the WeOwn Blockchain is significantly more performant than known public Blockchains. The focus on financial assets also results in significantly lower transaction costs than, for example, Ethereum. Read our blockchain speed of performance analysis to get a detailed picture. 

The WeOwn marketplace is built on our own hybrid blockchain, capable of safely storing both public and private data, and incorporating cryptographic technology.

Our blockchain is tailored to the needs of financial services transactions, including an advanced delegated proof-of-stake consensus algorithm, which enables fast validations.

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5 reasons we developed our own blockchain

What are digital assets?
How does it work?

READ MORE

Benefits of a blockchain built for business finance

Reduces delivery failures

With general-purpose blockchains, settlements fail because users are ableto agree to a transfer without delivering the assets or agree to multiple transfers with the same set of assets. In WeOwn’s case, asset transfers can happen on an atomic basis without requiring a smart contract to hold custody of both assets. This allows transfers to happen in the same transaction.

Provides deterministic transaction finality

WeOwn can provide the needed deterministic transaction finality through its purpose-built design and governance model. General purpose blockchains, like Ethereum, depend on probabilistic finality and never entirely finalise transactions.

Determining asset eligibility

WeOwn allows eligibility checks for obtaining certain assets. In that case, asset controllers or KYC provider would need to whitelist specific accounts in order that the account can hold the asset tokens. Asset controllers can even distinguish between eligibility in primary and in secondary market.

Fully specialised

The WeOwn purpose-built blockchain is entirely focused on the financial market. All possible actions are around asset management, corporate actions, KYC, voting and asset transfers have been built with the special requirements of this market in mind. The hybrid WeOwn blockchain provides all necessary functions out of the box.

Low Fees

Because all transactions and use cases are tailored to the financial market, this also means that the network is not burdened with transactions that have nothing to do with it. Therefore, network is not congested, and fees are kept low (A May 2021 transaction on WeOwn Blockchain equals 0.1 CHX which is 0.003$ and an Ethereum fee can be 50$ or higher per transaction)

Low energy consumption

Due to its efficient architecture and therefore low computer power consumption our blockchain has an unmatched carbon footprint.

WeOwn’s Blockchain Interoperability

Rather than exist in a vacuum, WeOwn is working on establishing blockchain interoperability to provide our customers with maximum flexibility. 

So far, WeOwn has enabled blockchain bridges to the two leading blockchain ecosystems (apart from Bitcoin): Ethereum and Binance Smart Chain. With this, WeOwn has created a holistic ecosystem for managing and administering debt and equity instruments with an institutional focus, and Ethereum-based applications are able to use the extensive functions such as voting or crypto registers of the WeOwn platform via this bridge function. Companies can thus access a secure and private decentralised network while building on the benefits of public blockchains like Ethereum to get the best of both worlds for their use cases.  

Read our guide on blockchain bridges for a detailed breakdown of the concept. 

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Comparison of Transaction Costs

Example transaction:   7.Jul.2021  –  $31,250 

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Energy consumption per transaction

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