Shaman – Payment Confirmation Service On Blockchain
CTBC Financial Holding Co., Ltd.
Shaman – Payment Confirmation Service On Blockchain
CTBC Financial Holding Co., Ltd.
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“Shaman” is a block-chain based payment service platform developed by CTBC. Launched in January, CTBC cooperated with “Soundscape”, Asia’s first block-chain music streaming platform with music copyright distribution, to build the innovative service in this industry. Project “Shaman” aims to resolve the existing pain-points of tedious copyright transactions that music distributors and publishers always face, by providing trustworthy and auditable financial payment mechanisms over block-chain transactions. Comparing with traditional labour intensive paper processing and reconciliation process, it can save up to 90% of the operation overhead while reducing potential risks and fraudulent behaviors. The service creates a winwin business model for music streaming platforms, music publishers, and banks.
Shaman supports main stream distributed ledger technologies such as Ethereum, Corda 3.0, Hyperledger Fabric 1.0 and Bitmark and is able to operate under both public and private chain in order to meet different customers’ need. Besides “Soundscape”, CTBC will continue to expand the Shaman service to various industries and create more block-chain business innovation in Taiwan, Asia and even the world.
Highlights
Drastically improves the efficiency of business operations.
Allows transactions to be executed instantaneously – contingent on predefined conditions – without interference of any third parties.
Connects various bank payment facilities with the block-chain ecosystem including Automatic Check Clearing and credit cards payment.
Everyone on Shaman platform can manage the operation process and access transactions records easily.
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Back to Hall of Fame
“Shaman” is a block-chain based payment service platform developed by CTBC. Launched in January, CTBC cooperated with “Soundscape”, Asia’s first block-chain music streaming platform with music copyright distribution, to build the innovative service in this industry. Project “Shaman” aims to resolve the existing pain-points of tedious copyright transactions that music distributors and publishers always face, by providing trustworthy and auditable financial payment mechanisms over block-chain transactions. Comparing with traditional labour intensive paper processing and reconciliation process, it can save up to 90% of the operation overhead while reducing potential risks and fraudulent behaviors. The service creates a winwin business model for music streaming platforms, music publishers, and banks.
Shaman supports main stream distributed ledger technologies such as Ethereum, Corda 3.0, Hyperledger Fabric 1.0 and Bitmark and is able to operate under both public and private chain in order to meet different customers’ need. Besides “Soundscape”, CTBC will continue to expand the Shaman service to various industries and create more block-chain business innovation in Taiwan, Asia and even the world.
Highlights
Drastically improves the efficiency of business operations.
Allows transactions to be executed instantaneously – contingent on predefined conditions – without interference of any third parties.
Connects various bank payment facilities with the block-chain ecosystem including Automatic Check Clearing and credit cards payment.
Everyone on Shaman platform can manage the operation process and access transactions records easily.