BOOSTRY, Case Study
by Web3 Labs
BOOSTRY, creators of ibet, a blockchain platform that issues and trades digital rights, uses the Chainlens Explorer to monitor Japan's first bond offering using blockchain technology.
The BOOSTRY Co. team experts created their consortium blockchain platform ibet in less than 6 months. The platform has been used successfully to manage and monitor the bond register of Japan's first bond offering using blockchain technology by the Nomura Research Institute, Ltd. The BOOSTRY team has found that Chainlens Blockchain Explorer is the perfect tool to monitor transactions on their network and have big plans to further its use as the network grows to assist new business in Japan.
At a glance
- Website: boostry.co.jp
- Country: Japan
- Industry: Financial Services
- Products and Services: Chainlens Blockchain Explorer
BOOSTRY, Case Study by Web3 Labs
ibet is a blockchain platform used to issue and manage rights (securities, memberships, vouchers, etc.). The platform is open source and is intended for companies interested in the digital asset business.
On March 30th 2020, BOOSTRY announced that they provided the technical infrastructure alongside other support to NRI on its digital asset bond and digital bond offering. This was a significant event as it was the first bond offering using blockchain technology by a Japanese issuer.
The Challenges
Shunsuke Hagihira, Infrastructure Engineer at BOOSTRY Co. and his team, understand that being a new entrant to business in Japan can be extremely difficult due to the regulations in place and the arduous process of obtaining the correct trading licenses.
To simplify the process, the BOOSTRY team created ibet, a consortium blockchain platform. ibet issues various rights and trading methods as security tokens, which are programmed by smart contracts on the blockchain. Security tokens refer to digitalized securities such as stocks, bonds, and real estate, but the team plans to expand to corporate bonds, memberships, and service usage rights.
With the ibet platform having such huge potential, it soon became clear to Shunsuke Hagihira that he needed a way to reliably monitor all transactions on the network.
The Solution
BOOSTRY Co. first began to use the Chainlens Blockchain Explorer in December 2019 when they identified the need for a quick and easy way to monitor the transactions on the ibet blockchain network.
By using the Chainlens Blockchain Explorer, Shunsuke Hagihira found that he could quickly and easily monitor the ibet network. He was particularly impressed with the intelligent monitoring system provided by the Chainlens Blockchain Explorer dashboard; he found all of the key metrics he needed at his fingertips.
The Results
Once Shunsuke Hagihira and the BOOSTRY team had established how invaluable Chainlens was, it became an integral part of their process in monitoring the ibet network.
In May 2020, the Japanese tech giant Fujitsu signed a deal with Nomura to co-launch an interoperable blockchain platform for trading digital assets such as securities. In testing, BOOSTRY's ibet platform and the pseudo cash settlement network were connected via the Fujitsu cross-chain technology 'connection chain' and within ibet.
“Chainlens [Blockchain Explorer] has provided BOOSTRY with the meaningful business intelligence and insights they needed to manage the rapid growth outlined in the joint ventures above. They have welcomed the great user experience and sophisticated functionality of the Chainlens Blockchain Explorer that enables them to gain the information they need from their network in a quick and pain-free way.”
In the future, BOOSTRY has even bigger plans for its ibet consortium network. They are hoping that many new businesses will be launched on the platform and as part of this, they will recommend the Chainlens Blockchain Explorer as the go-to tool for all of their customer’s monitoring needs.
How Chainlens can help you
The Chainlens Blockchain Explorer is the market-leading blockchain analytics platform for organizations. It provides you with transparency of your blockchain assets and smart contract applications. It also provides advanced searching, filtering, and sorting capabilities, with a directly accessible API for reporting.
Over 50 companies worldwide have benefited in their blockchain deployments using Web3 Labs’ Chainlens Explorer, while hundreds more have benefited from our other products including the Web3j blockchain development framework.