Scotiabank completes blockchain trial with Alphapoint
Alphapoint and Scotiabank experiment with blockchain
Alphapoint, a San Francisco-based financial services infrastructure firm, has completed a blockchain proof-of-technology trial for Scotiabank, leveraging its Alphapoint Distributed Ledger Platform.
The platform digitises financial instruments on its proprietary distributed ledger to create trading venues for those blockchain assets and to manage pre-trade and post-trade workflows, along with existing systems – and Scotiabank has evaluated how it can contribute to a variety of processes, in a project lasting several months.
“Distributed ledger technology [DLT] enables institutions to rethink how data flows within their organisations,” states Joe Ventura, founder and CEO of Alphapoint.
“Partnering with Scotiabank is an amazing experience – their team is leading the charge by proving out pragmatic, near-term implementations of this revolutionary technology.”
By Soumik Roy, editorial contributor to Banking Technology
