Cloud infrastructure brings blockchain technology to legacy banking space

cointelegraph.com:

Many of the blockchains in use today are public, offering complete transparency and requiring smart contracts, each of which operates in a centralized manner. Unfortunately, these same chains are often subject to outages, hard forks and delayed processing, not to mention a lack of security and role definition necessary in conducting business transactions. For this reason, the permissioned blockchain has risen as a solution to control the activities on a given network.

With a permissioned blockchain, not everyone is permitted to join the blockchain. Instead, participants must be granted special permission from the network’s owner. The result is a blockchain network that exists out of the public eye, that operates with the ability to run faster, achieve greater scalability and meet a level of governance standards. The result is now businesses and other organizations who can’t make their processes or data public can still take advantage of the use cases for blockchain technology.

Now, the only thing missing is a solution for implementation. The resulting gap is what Chain aims to address. Chain is a blockchain-based technology company operating to improve the financial landscape starting from the foundation. As a protocol, Chain is powered by Sequence, a ledger-as-a-service that is deployed alongside the Sequence Portal and Chain Core. Originating in 2014, the prominent startup has since received funding and partnerships from institutions including Visa, Citibank and others to help them launch their own custom blockchain projects.

The project has recently undergone new ownership, resulting in the Chain team overhauling the code base of their two award-winning products, Sequence and Chain. With the intention to one day become a