Decentralized Finance or DeFi development is the most significant paradigm shifter in today's financial ecosystem. It enhances access for everyone to the major financial functions, including trading, borrowing, risk management, investment, and more. Also known as Open Finance, this system brings several benefits to companies seeking scalability and growth.  

With DeFi, companies can automate their multiple financial processes leveraging smart contracts and operate in a more agile way. With digital transformation and decentralization on the verge of disruption, it has become inevitable for companies to stay ahead of the curve using these advancements. 

At Seven Bits, we leverage blockchain technology to make your business operations faster and secure them from frauds and data forgery. Transactions happening over a decentralized network are tamper-proof & immutable, so companies don't have to monitor their databases constantly. On this note, let's have a look at Seven Bits' futuristic DeFi development services that help you scale your business in an omnichannel way. 

Whether you are a startup or a small-scaled company looking to grow faster and onboard new customers — we are here to streamline complex operations. 

Cryptocurrency exchange development

With the growing popularity of cryptocurrencies among individuals, businesses need to have a full-fledged cryptocurrency exchange. It will not only help customers to store, buy, sell, and trade their assets but also help companies to boost profitability. Seven Bits understand your business needs and customers' persona to draft a custom crypto exchange to improve the scalability. 

There are several benefits of having this DeFi advancement along with the existing finance system. It not only makes the company future-proof but also scalability-ready. With improved transparency and faster performance, companies can attract more customers through a crypto exchange. 

DeFi Dapp development

Defi DApps influence the future of finances through their top-notch transparency and throughput. With customers' requirements changing with trends, companies need to focus on shifting their operations to dedicated DeFi Dapps. Compared to traditional applications, Dapps brings in faster performance and all-time access to all your customers across multiple touchpoints. 

Seven Bits help companies in migrating their legacy system and transform it into advanced Dapps. As these applications work on a distributed ledger framework, the transparency across all users improves drastically. Compared to conventional finance apps, the database is distributed, which makes the data availability more seamless. 

DeFi smart contract development

A smart contract is an advanced set of rules that can automate several and perform them on repetition without any glitch. This advancement lets companies work with a smaller team and still scale operations to serve more customers. Whether verifying details of new customers or processing and storing their documents, smart contracts can make DeFi applications more advanced and capable. 

Compared with conventional contracts, smart contracts have the benefits of reducing transaction risk, reducing management and service costs, and increasing business process performance as they are typically deployed on and protected by blockchain technology. Our Blockchain Center of Excellence (CoE) team keenly observes your business processes to draft a unique approach to integrate smart contracts. 

DeFi tokenization

Tokenization is an advanced data protection phenomenon in which the algorithm turns meaningful data, like name, account number, and transaction history, into a random string of characters. This string of random characters is known as a token that has no meaningful value if breached. These tokens serve as a reference to the fundamental data but cannot be used to guess those values.

Seven Bits' experienced DeFi experts integrate robust tokenization in your DeFi apps using a multitude of protocols and security standards. We leverage modern Ethereum protocols, including ERC-20, ERC-223, ERC-721, and ERC-1155, to create highly secure tokenization for your finance or NFT application. 

DeFi fund management

Managing cryptocurrency assets is not only complex but also time-consuming due to extreme complexity. When companies need to manage the crypto assets of multiple customers, it becomes an expensive exercise that also affects other operations. To make businesses manage funds faster and in a more secure manner, we offer full-fledged DeFi fund management systems. 

Compared to traditional fund management platforms, DeFi brings in superior flexibility to customers to use, track and withdraw their funds easily. 

Final thoughts

DeFi is the future of the finance domain, and this trend is here to stay with us for a long time. In 2021 and beyond, where more customers seek superior and seamless finance services, DeFi will play a transforming role. Want to know more about DeFi development services from Seven Bits? Contact us at sales@sevenbits.in to explore more.