That is where his company creates a difference. At Omni3, the convergence of their decentralized ledger expertise and API integration prowess enables the firm to maintain a definitive velocity while also providing a level of trust to embrace autonomy without the centralization of intellectual property (IP). The integration provisioned by the APIs and the resilience obtained by the blockchain layer creates a decentralized network for business operations such that clients can consistently deploy newer business capabilities for clients. Consequently, it provides the CIO or the central IT team the necessary oversight/ governance into the business architecture without limiting the speed of growth. Omni3 dons the role of the chief architect developing such networks while engaging clients in the insurance, banking and healthcare sectors, assisting them with the rapid deployment of products and services. These networks solve a quintessential problem faced by financial institutions–scalability.
“Though banks and financial institutions do not usually have the same scalability requirements that are driving organizations like Amazon, Netflix, and Google to pursue microservice architectures, these organizations still need to benefit from the agility derived from independent groups of developers creating solutions that compete with start-ups chipping away at the edges of their business,” says John D'Emic, CTO of Omni3.
The company’s decentralized architecture fills the gap between API-driven microservices and financial operations, allowing different parts of an organization to communicate and interoperate in a trusted manner, all the while nurturing decentralized autonomy by leveraging blockchain technology.
These multifaceted benefits provide large financial, healthcare, and insurance organizations a competitive edge in the marketplace, empowering them to manage trust–the fundamental value proposition of blockchain. Omni3 has partnered with token independent distributed ledger technologies to enable the autonomy and velocity requirement for business resilience in the insurance and banking sectors, creating an immutable ledger to track transactions and activities. A worthy exemplification of this merit is Omni3’s codename ‘Gabe’ initiative, which would allow organizations to internally monetize their API consumption, leveraging distributed ledger technology to provide charge-backs for API utilization across an enterprise. Another solution in the works facilitates government bond trading on the distributed ledger technology, provisioning bid, and auction functionalities for bond trading transactions.
“I am a big fan of simple operational deployment,” adds D’Emic. “When I was on the other side of the fence procuring software, one of the major boxes to check was ensuring that whatever we buy does not provide unnecessary overhead to the operational team. I carry the same philosophy to the products that we are building. Omni3’s products integrate with the existing operational infrastructure of clients, shipped with an API first mentality to make implementation easy for clients without the need for any blockchain-specific skill sets. With these advancements, Omni3 braces for an ambitious future with plans to expand further across the European region, along with trajectories for the Latin and North American regions.