Rayls, a newly launched blockchain system, aims to revolutionize the financial industry by addressing longstanding challenges in privacy, scalability, and interoperability that have hindered widespread adoption of blockchain technology by financial institutions. Introduced by Parfin, Rayls merges the robustness of traditional finance with the innovative potential of decentralized finance (DeFi), introducing the concept of UniFi.
Key features of Rayls include:
1. Privacy and Compliance: Rayls combines enterprise-grade privacy and compliance from traditional finance with the innovation of DeFi, ensuring that financial institutions can operate securely and within regulatory frameworks.
2. Scalability and Interoperability: It offers a dual approach with a Rayls Public Chain, an Ethereum Layer 2 solution, and private permissioned Subnets utilizing Zero Knowledge (ZK) and Homomorphic cryptography. This setup enables high throughput, scalability, and transaction privacy.
3. Use Cases: Rayls facilitates tokenization of financial and real-world assets, simplifies cross-border payments with real-time settlement, and supports secure intra-institutional transactions.
4. Industry Recognition: Rayls has been recognized in industry programs like the G20-BIS Tech Sprint and selected for Mastercard’s Start Path Blockchain and Digital Assets program, underscoring its innovative approach and potential impact.
5. Collaboration with Central Bank of Brazil: Rayls is actively being tested by the Central Bank of Brazil for its Central Bank Digital Currency (CBDC) initiatives, highlighting its suitability for critical financial infrastructure.
Rayls aims to empower financial institutions by offering a secure, scalable blockchain ecosystem that bridges the gap between traditional and decentralized finance, paving the way for enhanced operational efficiency, liquidity optimization, and growth in the digital era.
Source: itnewsonline.com
