Deutsche Boerse and Swisscom, the German securities marketplace and Swiss telecom that’s run by the state, have just settled security transactions via blockchain protocols.
On November 19th, Deutsche Boerse made an official announcement that it initiated a proof-of-concept (PoC) with Swisscom. The PoC involved a few banks and had participants exchanging money as tokens and against tokenized shares.
This joint PoC is blockchain-based and meant to show how much potential new technologies bring when it comes to financial services. More than this, it keeps Germany and Switzerland active in the space of digital assets.
The Joint PoC Had Three of the Most Important Swiss Banks Participating
The banks involved in the PoC were among the major ones in Switzerland, such as Zuercher Kantonalbank, Falcon Private Bank and Vontobel.
They all acted as counterparties and exchanged securities tokens against cash ones. The Swiss National Bank was also indirectly involved, seeing the cash tokens have been deposited as collateral in its Eurex Clearing account. Deutsche Boerse provided Swiss francs cash tokens.
The Cross-Chain Secure Settlement Used Corda and Hyperledger
For the cash and securities tokens to be processed, the participants in the PoC deployed Corda from R3 and Hyperledger Fabric from IBM distributed ledger technologies (DLT), completing the cross-chain security settlement. Some other participants partnered up with the blockchain company Daura and with Custodigit, which is a venture held in custody by Sygnum and Swisscom.
Deutsche Boerse noted that all firms provided digital share registry core elements for the PoC. This initiative is another breakthrough in the blockchain-based collaboration between Deutsche Boerse and Swisscom.
The two companies partnered up with Sygnum, the fintech firm based in Singapore, earlier this year. The aim of this partnership is to develop a proper infrastructure for the digital assets financial market.
Author: Oana Ularu
The telecom giant Verizon has just won an important new patent. The patent is related to a new product of the company that will be used on using the blockchain to create SIM cards in a much more dynamic way.
According to reports, the patent describes how to replace a SIM card by a virtual one, which would be secured using the blockchain technology. A blockchain record would be created on the blockchain for the vSIM and a certificate would be created. After that, the vSIM number would be linked to the person’s account and activated via smartphones.
Verizon would have nodes that would be used to create a distributed network that would prevent the system from being attacked or tampered with. According to the company, the technology would be protected by a hash three structure and all the data would never be altered, as the blockchain is immutable.
One of the main attractions of the technology, despite its security, is that the vSIM number could be used by more than a single phone at a time. The number could even be temporarily linked to other users for some time and then revoked. This would make the vSIM technology much more malleable than the one that is being used today.
The patent states that with a single implementation, the users could accept new vSIM certificates, transfer them and deliver certificates to other users. A company could, for instance, buy several numbers, assign to employees and then later re-assign these numbers to other employees later.
Author: Gabriel Machado
Technology giant IBM and the Indian telecom company Tata Communications have recently announced that they would be a part of the Hedera Hashgraph, a blockchain network that was created for enterprises.
The blockchain network has affirmed that the presence of these two companies is set to decentralize even more control of the company. At the moment, the company has 31 of its 39 seats for the governing council still open.
Mance Harmon, CEO of Hedera Hashgraph, affirmed that the governance model of the company ensures that no company can consolidate power alone. This is usually done via a checks and balances system that prevents one company from getting all the power alone.
Hedera was created in order to facilitate payments using the blockchain technology and to support smart contracts and file storage. The company was able to raise $124 million USD so far via future token agreements.
The code of the company is fully open for viewing, but it is patented, meaning that it is not open source, only transparent.
According to IBM, one of the most interesting aspects of the network is how private networks can be used to interact with public networks. The Hedera Consensus Service, for instance, can be used to connect public networks such as the Ethereum blockchain with private ones such as Hyperledger Fabric.
Because of this, IBM is certain that this new technology can be used in order to make its own offerings more effective and well-connected to the rest of the blockchain world.
Author: Gabriel Machado