Betachain
A secure method to complete online transactions using blockchain technology for transparency and resilience.
Inspiration
Seeing the rising amounts of hacks and loss of information occurring with existing credit card/debit card infrastructure, we decided to find a way to secure these assets. With the rise of blockchain technology, the answer seemed obvious as to how to better create a series of transactions which would be extremely difficult to attack.
What it does
Betachain uses blockchain technology to secure transactions on the backend of online financial transactions. It allows users to deposit funds into a wallet that is safely secured in a decentralized method. The online payments are then put into a blockchain, which is a public ledger, to prevent centralization of financial data which is prone to hacking. Thus Betachain provides for more transparency and resiliency.
How we built it
We used native Java language to develop a proof of concept blockchain system for peer to peer transactions. Then we used HTML and CSS for stylistic configurations in the wallet user interface.
Future outlook
Betachain is developed with an emphasis on security, scalability, and transparency. Such technology can be implemented into almost any industry. We hope that with the implementation of Betachain online financial systems as a whole becomes more secure.
School: Chantilly High School
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