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Blockchain & Digital Assets

We support the development of blockchain-based decentralized ecosystems and business models

Dr. Matthias Hirtschulz


Use Cases

Central Bank Digital Currency (CBDC) & Payments

Central bank digital currency (CBDC) plays an important role in payment transactions, but for most market participants, it is only available in physical form. While a digital variant can address the growing needs of all market participants in terms of secure electronic payments, it must not jeopardize the business models of financial institutions.

Decentralized Finance (DeFi)

Decentralized Finance (DeFi) encompasses new financial applications based upon technology in the form of decentralized applications (smart contracts) instead of relying on the activities of central entities such as banks, brokers, or asset managers. These can represent simple payments but also more complex applications such as loans, insurance, trading, etc.

Crypto Custody

The core of digital asset custody is the secure storage and operationalization of cryptographic keys that are used to control assets. In addition to the technical challenges, IT security and regulatory aspects must be considered during implementation.

Supply Chains & Internet of Things (IoT)

Lack of transparency at product level, high operational costs due to manual processes and excessive numbers of intermediaries constitute the core challenges of current supply chains. Blockchain technology in combination with IoT allows seamless traceability of products, the digitization of processes between suppliers and the reduction of intermediaries.

Non-Fungible Tokens (NFTs)

A Non-Fungible Token (NFT) is a digital asset with individual properties whose authenticity is cryptographically secured. Unlike well-known crypto assets such as Bitcoin, individual NFTs are not interchangeable. They can represent, for example, art objects, collectors' items, domains, or identities.


Tokenization is the process of creating a digital representative (token) of a (real) asset on DLT-based infrastructure. For this purpose, d-fine has created a tokenization platform that meets all our customers’ requirements, including smart contracts, KYC and much more.


During the course of digitalization, Pay-Per-X business models, such as usage-based financing and insurance products for production machinery are being increasingly developed. A combination of blockchain and industrial IoT technology allows the orchestration of usage data and payment flows within an ecosystem using smart contracts.

Self-Sovereign Identity (SSI)

SSI addresses the extensive reliance on third-party authentication, both physical and digital. Cryptographically verifiable proofs of identity are issued to subjects (holders) who decide for themselves which data they share with whom and at what time. The credentials are linked to decentralized identifiers (DIDs).

Together we can turn your vision into reality in no time!


Vision, Business Model and Roadmap


Proof-of-Concept (POC) and Target Operating Model (TOM)


Minimum Viable Product (MPV)


successfully implemented

Project examples

Self-Sovereign Identity (SSI) Real Estate Tokenization Pay-per-use for production machines Crypto Custody DLT based debt capital markets platform Money laundering solution for crypto assets

Self-Sovereign Identity (SSI)

Development of a platform for COVID-19 vaccination certificates

Due to regulatory, political as well as economic factors, the "Self-Sovereign Identity" framework has become increasingly important compared to traditional identification solutions. To obtain a valid assessment of the approach's significance for a company's product portfolio, d-fine supported the development of a prototype that issues and verifies vaccination cards as "Verifiable Credentials".

In addition to the choice of provider, the creation of suitable architecture and the development of web apps for the roles of issuers and recipients of such certificates, d-fine created target operating and business models.

The relevant basics of SSI and the applied blockchain technology were delivered to the customer in several training sessions. In addition, the prototype was handed over, together with operational and further development training.

Media Library

25.11.2021 Self-Sovereign Identities in Productive Systems – A Reality Check
20.10.2021 Digital Assets for Banks and Asset Managers
21.07.2021 Limits of SSI in Real-World Applications – and How to Overcome Them
21.07.2021 Challenges to Build an Infrastructure for Digital Securities
10.07.2021 Current Crypto Asset Based Business Models: From Custody to Crypto Funds
08.12.2020 Enabling Pay-Per-Use Models with Blockchain
08.12.2020 The Role of Financial Intermediaries in Digital Asset Infrastructures
19.10.2020 Real Estate Investments for Everyone: Approach, Challenges, and Prospects
13.07.2018 From Custody to Trading - Regulated Digital Asset Infrastructure in Germany



If you want to join discussions about Self-Sovereign Identity, this paper is a good place to start

Regulatory, economic, but also sociological drivers have recently led to an increased amount of discussions around the Self-Sovereign Identity (SSI)…

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DvP using CBDC: a "settlement choice model" for securities settlement

How Central Bank Digital Currencies and blockchain can create efficiencies in Delivery vs. Payment processes

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