Introduction to Frax Shares Whitepaper
Fraxeum is a Fintech rapid innovation launch pad designed to revolutionize financial technology. Our platform features a permissioned blockchain and a comprehensive suite of pre-built components, enabling developers, entrepreneurs, and corporations to:
- Rapidly prototype ideas
- Develop cost-efficient MVPs
- Deploy effective production systems
The Rise of Fintech Innovation
Financial technology is reshaping the global landscape. According to the PWC Global Fintech Report 2017:
- 82% of banks expect to increase Fintech partnerships within five years.
- 80% believe their business is threatened by Fintech products.
- 77% plan to adopt blockchain as part of their production environment by 2020.
In a world of instant gratification, slow and outdated business processes are no longer acceptable. As global connectivity increases, traditional borders fade. Consumers can easily transact across continents, purchasing movies from Google Play or merchandise from Alibaba. At Fraxeum, we believe that banking will follow suit and become truly borderless.
Driving the Next Wave of Fintech Innovation
Fraxeum is at the forefront of this transformation by:
- Implementing Crypto-Based Ledger Systems (Blockchain): Facilitating trustless transactions across borders.
- Guiding Fintech Developers in Compliance: Enforcing regulatory requirements for each jurisdiction through community validation before launching a system.
- Reducing Time and Cost of Innovation: Offering plug-and-play building blocks, including user management, integrated payment systems, marketing tools, and mobile app source code.
Design Principles
- Compliance First: Fraxeum ensures that all projects comply with global regulatory frameworks and laws.
- Technology Abstraction: Simplifying the user experience by masking the technology layer, allowing users to see local fiat currencies, shares, and profits in familiar terms.
- Permissioned Blockchain: Enhancing data security and transaction speed through a permissioned blockchain.
- Client Silos: Each Fraxeum client operates on a dedicated VM with control over their hardware and resources, while Fraxeum manages the core software.
- Client Ownership of Customer Data: Customer data is stored in a GDPR and CCPA-compliant MySQL database within the client’s silo.
- Public Transactional Data: Transactions are recorded on the blockchain, encrypted to protect identities. While anyone can view the blockchain, only authorized entities can mine, send, and receive data.
- Separation of Power: Critical functions like asset creation and core code changes are managed by system admin nodes, requiring an 80% admin vote for approval.
- Internal Asset Tokenization: Global currencies are mirrored by unique crypto assets on the platform.
frax whitepaper
