Bridging TradFi with DeFi
Linking off-chain and on-chain financial market data to Web3 smart contracts and dApps
In 2021 it became apparent that traditional financial services organizations needed the ability to integrate their important but complex market data distribution systems into their innovative Web3 projects.
For the dApps and Smart Contracts that are the Web3 experience, developers needed tools to integrate market data in a compliant and permissioned fashion. Preferably, this would be done in such a way as to be familiar with the teams performing market data integration in traditional finance solutions. Additionally, companies were telling us that Web3 was evolving quickly, and they required support for many different chains with higher level tooling for managing the flow of information and events between the enterprise, smart contracts, and dApps.
These insights surfaced during conversations with customers exploring real-world projects that bridged their existing solutions and customers into Web3. This was very important as it can be easier to build from scratch. But that’s not the reality these organizations live in.
In fact, the scale and speed of their customer demands forced teams to think about how to leverage off-chain capabilities so that on-chain solutions scale better and deliver a better customer experience.
To meet these demands, and help customers take advantage of the experience that each of the three companies involved have with building applications that depend on event-driven market data solutions, we built Web3Link.
Web3Link incorporates products from BCC Group, BCware, and Synadia, along with new development to tie them together and help integrate these capabilities into traditional financial organizations.
- Market data integration and DeFi Oracle
- Cloud-based real-time distribution
- Web3 middleware, orchestration, and developer APIs
Web3Link solution architecture:
TradFi Integration & Orchestration
DeFi is short for “Decentralized Finance”, an umbrella term for a variety of financial applications in cryptocurrency and Blockchain, geared toward disrupting financial intermediaries. DeFi aims to reconstruct and reimagine CeFi – Centralized Finance – on the foundations of DLT “Distributed Ledger Technology”, Blockchain, digital assets, cryptocurrencies and smart contracts.
While regulatory challenges represent barriers to early mainstream adoption, the technology requirements to integrate CeFi applications with DeFi applications represent an even more formidable task. Scalability, reliability and high performance have always been non-negotiable requirements in the financial services world where every new technology is scrutinized all the way to its smallest moving parts before being accredited as production caliber. While the race is on for traditional large financial institutions to offer crypto and digital services to their customers, they are faced with the paramount challenge of integrating their existing infrastructures with a variety of Blockchain platforms and emerging DeFi services without compromising the aforementioned technology requirements of Wall Street in an optimal fashion.
Founded by a team of integration pioneers who digitized Wall Street, BCware provides a CeDeFi integration & orchestration platform addressing these very technology challenges above. The BCware platform delivers mission-critical grade solutions for the convergence of legacy financial systems with cryptocurrency and digital asset infrastructures with its unique differentiators:
- High performance and scalable symmetric on-chain/off-chain integration and orchestration
- Transparency and interoperability of the underlying Blockchain platforms
The diagram below depicts the BCware platform connecting the islands of the new finance world:
BCware’s unique architectural approach is centered around the following key components:
BCflow: The workflow engine orchestrating on-chain/off-chain events using concurrent tasks and a publish/subscribe model for superior scalability, high performance and reliability.
BCware Abstraction Layer: Providing a symmetric integration model for CeFi applications, existing and future DeFi services and underlying Blockchain platforms.
BCware API Layer: Enabling accelerated creation and deployment of crypto and digital asset products for our customers.
The platform is further boosted for scalability and high performance via off-chain centric processing and optimized on-chain access.
Our mission is to be the de facto and ubiquitous integration platform between CeFi systems and Blockchain powered DeFi applications.
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