HashCash: Core banking in decentralized economy.

  • May 20, 2021
  • Jennifer Moore
HashCash: Core banking in decentralized economy.

Pandemic has forced a huge chunk of people to bank with mobile apps. Thus garnering a large population of online bankers. Therefore, this mandates that the banks offer an updated interface covering all possible banking operations. Moreover, a group of banks has their branches on a network. Therefore, the customers may visit their closest branch to access their accounts and perform basic transactions with any other member branch of that group. This is core banking. Core banking covers the basic depositing and lending of money.

Also Read: Crypto Banks, Decoded: All You Need To Know About

Core banking functions include transaction accounts, loans, mortgages, and payments. Moreover, banks facilitate these services across multiple channels like automated teller machines, Internet banking, mobile banking, and branches.

Core banking is advancing on an aggressive footing offering more products aimed at higher returns on investment. Therefore, the downside remains its very centralized mode of operation, ever-dipping rates of interest, and high charges.


For the first time in history, the traditional banking system faced competition with the advent of the decentralization of finance. Moreover, cryptocurrency has since been perceived as an alternative financial instrument. Therefore, indeed the digital currency holds the potential to replace the centralized banking systems in most parameters.

Right now, many corporate houses have placed their bets on digital currency. Therefore, despite severe reluctance and initial dismissal, even financial institutions have been compelled to acquire stakes with digital currency offerings.

HashCash Core Banking Solutions

It has been agreed upon by the leading economic authorities that absolute digitization and free play of private digital currencies is not acceptable and there needs to be a balance of both digital financing and traditional. Therefore, under these circumstances with digital currency breathing down its neck, traditional banks have to come up with features to retain its relevance.

Therefore, with rapidly progressing banking and rising demands of the customers – core banking systems need to gear up to adapt to the dynamics of evolving necessity. Moreover, HashCash assists by turning banking operations in favor of the emerging requirements with smart work centers.

HashCash designed core banking solutions to enhance the core competencies and equip the branches to allow customers easy, hassle-free banking.

Use Cases of Complete Core Banking Solutions

Here are some of the use cases:

  • Modular design

The components of the system are fragmented into modules that perform a specific function. The modules are integrated into the unit and they work on mutual cooperation.

  • Platform Agnostic

HashCash designed solutions boast of multi-layered design with support for multiple platforms and multiple databases.

  • Realtime 24X7 Service

The systems roll round-the-clock. Power backup is available during any event of an outage, thereby, enabling anytime transaction for customers.

  • Customer-Centric Architecture

This feature enables the Relationship Managers or other authorized personnel an at-a-glance, full-screen view of a particular customer’s operation history.

  • Simplified Business Process Orchestration

In-built workflow engine or corporation level process engines allow for easy coordination via the distinct system modules.

  • Flexibility

Flexibility is offered in terms of support for multi-entity, multi-currency, multi-byte, multilinguistic, and multi-time zone.

  • High Performance

HashCash design powers the world’s largest core banking commissioning with 600 million-plus accounts.

  • Agility

Agile solutions through elaborate user-level customization and parameterization.

Key Benefits

HashCash devises core banking solutions come with the following key benefits:

1) Expansion of product offerings with flexible product factories
2) Configuration of bundled product suites
3) Automation of regulatory requirements
4) Driving collaboration with the ecosystem through Open APIs
5) Increase in operational efficiency and productivity
6) Deliverance of differentiated & unique customer experiences
7) Managing growth with proven scalability
8) Upsell, cross-sell relevant products to customers effectively

Also Read: Fiscal Transfers and Cross-Border Payments With CBDC

Final Words

Pandemic has forced a huge chunk of people to bank with mobile apps. Thus garnering a large population of online bankers. Therefore, this mandates that the banks offer an updated interface covering all possible banking operations. HashCash solutions provide such benefits as to keep core banking functionalities at a finger-tap maintaining a user-friendly mobile interface.

Leave a Reply

Your email address will not be published. Required fields are marked *

paybito logo

Download the Mobile Apps

Contact Us

  (Max 120 Character)
  (Max 500 Character)


Ether CoinETH/USD









Chat Now
Welcome to Paybito Support