Blockchain Platforms to Build Finance and Operations Applications

Interest surrounding Blockchain technology first sprung in 2009 with Bitcoin. Since then, the technology's power to make businesses transparent and efficient has earned its rightful place around the world.

12 years later, the revolutionary technology continues to challenge limitations to provide practical value to every sector — finance, healthcare, supply chain, logistics, to name some.

Listed are some of the reputable blockchain platforms worthy of your attention if you're looking to build finance applications:

  1. Corda

  2. EOS

  3. Ethereum

  4. Hyperledger Sawtooth

  5. IBM Blockchain

  6. IOTA

  7. Matrixport

  8. OpenChain

  9. OpenLedger

  10. Quorum

  11. Ripple



  • Corda was developed by the R3 brand back in 2015

  • Corda is R3’s open-source blockchain platform, which helps corporate clients in the quest to create more secure and private transaction experiences for users

  • The blockchain operates on a so-called “permissioned model”, which is crucial to the platform’s ability to deliver improved privacy protocol for end-users

  • Corda also benefits from the granular level of control that it affords users over the digital records. This is most suited to internal applications, particularly those that manage large swathes of sensitive information and diverse datasets

  • Because of these factors, Corda is ideal for financial services and industry applications, although it also has extensive use cases in healthcare, trade authorities, and central government

  • Unlike the vast majority of blockchain platforms, Corda doesn’t boast its own crypto token, so there’s no opportunity to trade or exchange assets through the site

  • Learn more about the platform here



  • EOS was founded jointly by Daniel Larimer and Brendan Blumer in January 2018

  • A relative newcomer on the blockchain scene, EOS originated under the commercial banner of, with its primary purpose being to develop decentralised applications (Dapps) for business

  • At launch, the company distributed a billion EOS tokens to ensure global adoption. Currently, there are 955,624,951.92 coins in circulation, and holders can use the underlying blockchain to create customisable apps and solutions

  • EOS provides one of the very best solutions for Dapp hosting, especially as it allows real-time communication between individual applications and off-chain components on the Internet

  • With EOS, you can also develop apps and exchange tokens without incurring any fees. So, you won’t have to pay to make the most of the blockchain

  • EOS is compatible with a number of wallets, including MetaMask, MyEtherWallet and the Ethereum Wallet

  • You can learn more about the platform here



  • Ethereum was founded in December 2013 by Vitalik Buterin, Charles Hoskinson, Mihai Alisie, and Amir Chetrit

  • The second most renowned blockchain behind Bitcoin, Ethereum differs from its rival by serving as an open-source distributed platform in addition to providing a method of value exchange

  • With Ethereum, you can construct smart contracts and develop decentralised apps (Dapps) within the confines of a custom-built solution

  • Ethereum’s ‘Virtual Machine’ run-time system enables you to write complex codes too, allowing for the development of advanced and intuitive smart contracts for various financial applications

  • The platform also utilises a Proof-of-Work (PoW) solution, which optimises global accessibility while compromising a little in terms of speed and transaction fees (which remains one of the blockchain’s main challenges in the modern age)

  • Ethereum remains the second-largest crypto asset by the measure of market capitalisation value

  • You can learn more about Ethereum here


Hyperledger Sawtooth

  • Hyperledger Sawtooth was incubated in January 2018 as a blockchain offering from the Linux Foundation

  • Both Digital Asset and IBM also contributed heavily to the platform’s development and launch

  • Hyperledger Sawtooth is a modular, enterprise-grade platform that enables users to create, deploy and execute their own distributed ledgers

  • The platform integrates with a host of trusted execution platforms and partners, allowing for extensive functionality that negates the challenge posed by third-party control

  • From a technical perspective, the modular architecture separates the application domain and core system, so you can apply smart contracts and specify the associated rules without having a detailed understanding of the underlying system design

  • High profile cases studies include the BTP network, which used Hyperledger Sawooth to create the ‘Sextant’ platform and simplify the development and deployment of blockchain-based enterprise applications

  • You can learn more about Hyperledger Sawtooth here


IBM Blockchain

  • The IBM blockchain is a founding member of the Hyperledger consortium, which was founded in 2015

  • One of the most exciting blockchain platforms in the marketplace, the IBM network is focused on providing more transparent environments for a wide range of commercial applications

  • The IBM brand has brought its own cutting-edge technology to the blockchain realm, enabling it to blaze a trail in the crypto space and launch a new era of innovation and collaboration

  • IBM maintains its status as a market leader by retaining its blockchain division as a separate and standalone entity, and one that’s focused solely on the rapid development of new and innovative blockchain applications

  • Case studies show that IBM Blockchain enables clients to better redefine their commercial and client relationships through trust and transparency while making it far easier to create digital collaborations

  • Prominent applications including banking and governmental contracts, thanks to the blockchain’s ability to provide trusted data exchange services and workflow management tools

  • You can learn more about IBM Blockchain here



  • Founded by Sergey Ivancheglo, Serguei Popov, David Sønstebø and Dominik Schiener in October 2015

  • Designed to fundamentally change how people access distributed ledger technology, IOTA utilises proprietary IoT technology to create more secure and fee-free exchanges

  • The platform doesn’t use chains or blocks, while it provides a central environment for upgrading and managing large swathes of data

  • Ideal for business use, teams can use IOTA for various applications, including the construction of entire and interconnected smart cities

  • IOTA can also be used to create ‘digital twins’ of any product, pallet, container or physical consignment, making it ideal for supply chain applications

  • IOTA also boast its own unique wallet and exchange, with the associated token (IOTA) boasting a market cap in excess of $2.2 billion

  • Developers can also utilise IOTA to develop intuitive smart contracts and decentralized apps (Dapps) while utilising on-site tutorials to get the most from these features.

  • You can learn more here



  • Founded in 2016 by Jihan Wu in Hong Kong

  • Matrix Design represents a new generation of blockchain technology, leveraging the very latest in AI and machine learning techniques to refactor (and stabilise) the blockchain architecture

  • Differentiates itself from previous blockchains by offering access to AI-enabled autonomous networks and featuring the potential for the decoupling of data and control blocks

  • Features the MANTA machine learning platform too, which enables users with virtually no technical understanding of AI to learn on a Matrix node and get all the models that they need

  • On the inherently secure Matrix network, proprietary MAN tokens are used for rewarding nodes, processing payments and completing digital asset authentication

  • Matrix also boasts a number of strategic associations, including ABCD, Hyperledger, The Linux Foundation and Decentralised AI Finance

  • Current commercial partners include Nerve, Block Show, Stellar and UniCloud, with others set to come on board in 2021

  • Find out more about Matrix here



  • The OpenChain network was developed by CoinPrism in 2015

  • This public blockchain has been designed primarily for commercial users, who want to create expansive and large-scale systems for experimentation

  • This means that users can develop a new instance or iteration of blockchain through the platform in a matter of seconds, before applying and testing these in a real-world setting

  • From a practical perspective, end-users may also exchange values on the ledger, while tracking every immutable transaction just as they would with Bitcoin or Ethereum

  • There’s no mining network associated OpenChain either, so transactions are completed instantly and carry no cost of any description

  • Rather than leveraging BTC’s Proof-of-Work (PoW) model, OpenChain uses a client-server architecture that’s far more efficient, reliable and ultimately scalable

  • Common use cases for OpenChain include securities such as stocks and bonds, while it has been utilised as a register of ownership for commodities such as gold, oil and currencies

  • Learn more about the platform here



  • OpenLedger was founded by Ronny Boesing in 2014

  • The organisation is currently headquartered in Pandrup, Denmark

  • The core premise of OpenLedger is to provide blockchain development options and services to clients across the globe

  • In this respect, it offers crucial support for digital transformation within all types of business, which is a critical part of the increasingly disrupted corporate landscape in the digital age

  • A market leader in custom blockchain development, companies of all sizes can use OpenLedger to create disruptive business tools that allow for the management of large-scale digital assets

  • There are also lots of customisable permission options available to users, which offer genuine peace of mind across the board

  • OpenLedger is also a popular option for businesses who are unfamiliar with blockchain, thanks to its supportive team of dedicated professionals with years of experience in the industry.

  • You can learn more about the OpenLedger platform here



  • The blockchain was founded by the JPMorgan bank chain in 2017

  • Initially built using the Ethereum chain, Quorum is an open-source platform that’s being used by the bank to manage its Interbank Information Network (which oversees payments across more than 300 banks)

  • Effectively an enterprise-grade version of the Ethereum platform, Quorum has modified the core of the structure to provide quicker and more efficient processing

  • Quorum is ideal for handling large-scale applications that require considerable processing speed and power, while there has also been a significant demand among users who want a solution to manage private transactions

  • Quorum users can also rely on full-service support and an advanced development landscape, making it primed for customisation and the development of bespoke solutions

  • This business-friendly platform is trusted by a wide range of trusted corporations, including Microsoft, Sia Chain and the South Africa Reserve Bank

  • Learn more about the platform here



  • Ripple is one of the best-known blockchains, having been founded in 2012 by Chris Larsen and Jed McCaleb

  • It was one of the first blockchains to target the financial side of the digital revolution, focusing on connecting disparate digital asset exchanges and payment providers as opposed to serving as a simple medium of exchange

  • Through Ripple, you can process global payments between banks and exchanges, or construct your own, bespoke fiscal solution to overcome specific challenges

  • Not only are there a myriad of use cases for Ripple, but it’s currently estimated that more than 300 companies are creating and deploying financial assets with Ripple’s broad infrastructure

  • Other solutions are focused on the minimisation of liquidity expenses and the execution of instant payment between different networks

  • Currently, Ripple (XRP) is the sixth-biggest crypto asset by market cap, with a total value of more than $33.4 billion

  • You can learn more about Ripple here


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