Besu

Business Profile

Core Value Proposition

Besu provides enterprise-grade Ethereum client capabilities for private networks with interoperability to the public Ethereum ecosystem, under LF Decentralized Trust governance.

Target Customer

Large enterprises and financial institutions exploring decentralized technologies and digital asset platforms; IT leaders, DLT centers, treasury/finance teams, and developers implementing blockchain solutions.

Key Differentiator

Open-source, enterprise-focused Ethereum client designed for permissioned and public networks, governed by LF Decentralized Trust, offering private network privacy with access controls, interoperability with Ethereum, and ecosystem collaboration.

Implementation Timeline

Citi began vetting DLT technology years prior; Citi Token Services for Cash was tested and rolled out, with testing in Sep 2023 and commercially live in select jurisdictions as of Oct 2024.

Pain Points

1Slow, manual, cross-border asset transfers and settlement in traditional banking workflows.
2Complex integration of distributed ledger tech with existing banking infrastructure and systems.
3Need for governance, security, and privacy in enterprise blockchain deployments while still accessing public Ethereum tools and ecosystem.

Key Features

1Besu as an enterprise-grade Ethereum client designed for permissioned/private networks with access controls and enhanced privacy
2Interoperability with the public Ethereum ecosystem while maintaining private network governance
3Citi Integrated Digital Assets Platform (CIDAP) for a cohesive platform to manage digital assets, wallet management, smart contract registration, and tooling
4Reusable connectors/adapters to interface with internal Citi systems, external DLT networks, Digital Assets vendors, and service providers
5Tokenization services layer enabling rapid on-chain workflows to tokenize/detokenize digital assets on the Besu network
6On-chain/off-chain interaction, transaction indexing, audit trails, and interoperability plans with future DLT networks

Target Customer Industries

Decision Makers

1Global Head of DLT Center of Excellence
2Head of Digital Assets for Treasury and Trade Solutions, Citi
3CEO of Hashgraph
4VP Cybersecurity & Trust
5Researcher at T-Labs, Deutsche Telekom
6Founder and CEO

Client Results

1Near real-time transaction speed for cross-border and interbank transfers
224/7 operations enabling continuous processing and settlement
3Seamless client experience as transfers occur through existing channels without clients needing to hold tokens
4Improved liquidity management and efficiency; programmable transfers and enhanced automation
5Industry recognition: Citi awarded the 2024 Model Bank Award for Digital Asset Innovation by Celent

Competitive Advantages

1Open-source and governance by LF Decentralized Trust provide source code control and collaborative development
2Designed for enterprise use with private network privacy and robust access controls
3Interoperability with Ethereum ecosystem while maintaining private network security
4Real-time, 24/7 capabilities for cross-border transactions
5Strong ecosystem support including certified service providers and a broad member network

Key Benefits

1Faster, near real-time transactions and cross-border settlement

2Private network privacy and controlled access for enterprise use

3Interoperability with the public Ethereum ecosystem

4End-to-end platform capabilities via CIDAP for digital assets, wallets, and smart contracts

5Strong governance, collaboration, and support from a global open-source community

Case Studies & Success Stories

24/7, near real-time, always-on infrastructure: Citi transforms transaction banking services with Besu

Case #1

Citi leveraged Besu within CIDAP to enable real-time tokenized interbranch deposits, 24/7 operations, and seamless client experience; Citi Token Services for Cash delivered near real-time transfers, improved speed, liquidity management, and programmability; Citi and LF Decentralized Trust collaboration led to a widely impactful enterprise blockchain deployment.

Additional Product Information

Product Description

Besu is an enterprise-grade Ethereum client designed for permissioned and public networks, open source, hosted and governed by LF Decentralized Trust; enables interaction with Ethereum while providing enterprise privacy and access controls.

Target Market

Enterprises and financial institutions seeking a scalable, private/public blockchain solution and digital asset platform, including treasury/finance teams and IT decision-makers.

Unique Value Proposition

Enterprise-ready, open-source Ethereum client with private-network privacy, public Ethereum interoperability, and LF Decentralized Trust governance, backed by a global community and ecosystem of partners.

Technical Requirements

Integration with internal Citi systems and external DLT networks; high-throughput platform optimization; on-chain/off-chain workflows; audit trails and regulatory/compliance alignment; CIDAP web portal for dApps and tooling; ongoing interoperability with future networks.

Pricing Model

Not disclosed in the provided content

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