FortisNet provides a quantum blockchain infrastructure designed for central bank digital currencies (CBDCs) and financial institutions, enabling atomic settlement and interoperability across diverse banking systems. This technology addresses the challenge of financial inclusion for the unbanked population by allowing access to banking services through simple identity verification methods, such as government ID cards or phone numbers.
Funding
$42K raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Traditional banking systems often exclude the unbanked population due to lack of access and infrastructure. Existing cross-border payment systems lack interoperability, leading to inefficiencies and increased costs. The absence of atomic settlement in current systems introduces trust concerns and liquidity risks, especially in volatile markets.
Solution
FortisNet offers a quantum blockchain infrastructure designed to facilitate interoperability and atomic settlement across diverse banking systems, including central bank digital currencies (CBDCs) and traditional financial institutions. The platform enables financial inclusion by providing access to banking services for the unbanked through simple identity verification methods like government IDs or phone numbers. FortisNet's technology supports high transaction throughput and aims to create a more secure and efficient financial ecosystem. The solution helps integrate banking systems with CBDCs and provides interoperability pilots for banks, offering early access to the CBDC environment. It also facilitates microtransactions at a fraction of the cost of typical debit card-based payments.
Target Audience
The primary target audience includes governments, central banks, financial institutions, and banks seeking to implement CBDCs, improve cross-border payments, and expand financial inclusion.
Features
- Quantum blockchain technology capable of handling 2.4 million transactions per second
- Interoperability framework connecting banks, financial institutions, central banks, and FinTechs
- Atomic settlement capabilities to mitigate liquidity risks and enhance trust
- CBDC integration tools for seamless connection with existing banking systems
- Support for microtransactions at reduced costs compared to traditional payment methods
- Proxy bank account functionality using government IDs or phone numbers for financial inclusion
- 5-factor authentication and interoperability between banks, KYC & AML systems