Skip to main content

7 Financial Firms Test Blockchain for Data Management

Credit Suisse, Citi and HSBC are among seven financial firms to participate in a data management trial announced today and conducted with support from blockchain firms Axoni and R3CEV.

Featuring buy-side and sell-side firms, the multi-month effort envisioned how a distributed ledger prototype could be built to enhance risk management, cost and efficiency issues when managing financial reference data. Also involved was the Securities Industry and Financial Markets Association (SIFMA), a trade group representing US securities firms.

According to a release, the prototype used Axoni Core, the startup's proprietary distributed ledger software to simulate the collaborative management of reference data used in corporate bond issuance.

The companies said:

"The technology enabled participants to interact with reference data after issuance, with any proposed changes requiring validation by the underwriter to ensure the ledger provided a single, immutable record of all data related to the bond."

According to the companies involved, the project was able to demonstrate how regulators and network participants can use the technology to see which parties on a ledger have created, issued and proposed amendments to a data record.

In statements, David Rutter, CEO of R3, and Emmanuel Aido, Credit Suisse's blockchain and distributed ledger lead, spoke to the benefits that this new approach to data management could bring to the financial industry.

"Quality of data has become a crucial issue for financial institutions in today's markets. Unfortunately, their middle and back offices rely on legacy systems and processes – often manual – to manage and repair unclear, inaccurate reference data," Rutter said.

Comments

Post a Comment

Popular posts from this blog

What is iDice?

iDice is a dice betting Dapp fueled by the use of the Ethereum organize. eg. iDice lets in players do several things and having such an innovative new token on the ETHEREUM Platform, we had to write an article about this new project. Guess on the space by the use of keeping up iDice tokens and best of all 100% of all benefit iDice acquires is dispersed among token holders, related to the amount of tokens they dangle. iDice amusement code is decentralized and changeless. Such gigantic building fees highlight a rising requirement for experienced, fair and cast Dapps. iDice iDice is an control which gives a provably affordable and simple, virtual Ethereum dice betting Dapp. The house edge will be set intensely and token holders have an atypical esteem that is dependably equiva- loaned to the house edge. iDice has a fully simple provide code accessible at etherscan.io. The payout of recreations is many times speedy. Provably Fair iDice uses open provide blockchain...
Post a Comment
Read more

DENT: THE World First Tokenizing Portable Information Trade

You may be confused on all the exciting Ethereum projects, but therefore i make sure to follow allof them and choose the best for you. If you want to read about a more interesting project, then DENT is the way to go. I will be able to advice on a few tokens that can be bought out there which clearly we likewise might occu : Estimated token incentive on ETH presented within the token deal: 152,000 ETH (Relying on sorts via crowdsale) 100 Billion (100,000,000,000) the amount of DENT Tokens made, of which 70% is bought on token deal, a minimum of 35% can be stored for customers with littler spending plans. For the ones of you who're eager about ico smartcontract prolong that we regularly listen in non-obligatory cryptographic cash or altcoin without a doubt no longer outdoor to the workings of undertakings like this. Evaluated swapping scale: 1 ETH = 400,000 DENT 30% will keep on DENT Wi-fi for DENT shopper motivating forces and compensations Bills may well be made via ETH...
Post a Comment
Read more

Fake Libra scams pose new challenge for Facebook

Almost a year after Facebook's Libra was first announced, the outlook for the stablecoin looks starkly different. Once hailed as a game-changer for digital currency, the project has been beset by delays and regulatory difficulties. Now, fake Libra scams are presenting an increasingly pressing new challenge for Libra and Facebook, with a proliferation of websites claiming to offer investment schemes denominated in fake Libra tokens. Dante Disparte, Deputy Chairman and Head of Policy and Communications for The Libra Association, said the organization was now constantly working to suppress fake Libra scams: "As we become aware of these sites, we work diligently to address them. We respond to inquiries concerning the validity of these pages, indicating that the only official website is Libra.org." "We are still in the early stages of this project and work to address issues like these as they arise," Disparte told Finance Magnates, urging people to report the scams. ...
Post a Comment
Read more