/biz/ - Business & Finance

https://www.ledgerinsights.com/unlocking-the-future-solving-interoperability-in-asset-tokenisation/

>Blockchain is more about the creation of an ecosystem than it is about a technology – and a key part of creating that ecosystem is interoperability: ensuring that different systems can talk with each other. However, the problem is that most conversations around blockchain and interoperability in the asset management industry start at a very high level and then quickly get into the weeds of technical complexities, never grounding the discussion in the practical realities of the industry and specific use cases. We need a more practical way forward.

>For example, take the idea that smart contracts will enable automation of corporate actions, like dividend distributions. This does not just happen. There needs to be an infrastructure made up of smart contracts that would collaborate to enable this. The actual dividend rate would still be calculated elsewhere, and then there would need to be some means of paying out the cash, and possibly reinvesting. This is complex business logic, no matter what software you implement it in. Even if entirely executed on one Ethereum based blockchain, there would need to be an agreed standard on how all this would work.

>The recent theft targeting Chainlink’s (LINK) assets has been deemed one of the most significant security breaches in the crypto space this year. This hack has not only resulted in substantial financial losses, but it has also raised serious doubts regarding the security measures and investor confidence within the Chainlink (LINK) ecosystem.

https://bitcoinworld.co.in/polkadot-and-chainlink-investors-eye-up-algotech-and-its-rocket-presale/

>Last November HSBC revealed the first institutional trades of tokenized gold, where the physical gold is stored in HSBC’s London vault. Today the bank announced that retail investors can now access the tokens in Hong Kong via online banking and the website.

>“We acknowledge the rising demand for digital assets and the existing familiarity of our customers with gold investment,” said Maggie Ng, general manager and head of wealth and personal banking Hong Kong at HSBC

https://www.ledgerinsights.com/hsbc-tokenized-gold-available-to-hong-kong-retail-clients/

>Today Digital Asset announced the results of a pilot with 45 institutions who simulated the use of 22 different DLT applications on the Canton Network. The network launched last July and aims to provide DLT interoperability to address the silos being created by numerous institutional permissioned blockchains.

>“Canton allows previously siloed financial systems to connect and synchronize in previously impossible ways while abiding by the current regulatory guardrails,” said Yuval Rooz, CEO and Co-Founder of Digital Asset.

>Several participants already have production applications. They included BNY Mellon, Broadridge, DRW, EquiLend, Goldman Sachs, Oliver Wyman, and Paxos. Other participants were abrdn, Baymarkets, BNP Paribas, BOK Financial, Cboe Global Markets, Commerzbank, DTCC, Fiùtur, Generali Investments, Harvest Fund Management, IEX, Nomura, Northern Trust, Pirum, Standard Chartered, State Street, Visa, and Wellington Management, with Deloitte acting as an observer, and Microsoft as a supporting partner.

https://www.ledgerinsights.com/canton-network-dlt-interoperability-trial-for-rwa-tokenization/

>Yesterday, the main Greek stock exchange group ATHEX announced a project to explore using the Sui public blockchain for ATHEX Group’s Electronic Book Building solution (EBB).

>The contract is with Mysten Labs, the founder of Sui. In 2022 Mysten received a $300 million funding round, with backers including Franklin Templeton and Apollo. Mysten’s founders worked on Facebook’s Novi team for the Diem project and developed the Move smart contract language used by Diem.

>“Collaborating with a globally recognized financial institution like ATHEX is a momentous step forward not just for the Sui blockchain but also for web3 itself,” said Evan Cheng, Co-Founder and CEO of Mysten Labs. “Financial tools have long been touted as a use case for blockchain technology, but we have yet to see real world adoption.”

>Evan Cheng quit as Chainlink Labs advisor

https://www.ledgerinsights.com/stock-exchange-athex-public-blockchain-for-book-building/

Check the charts. LINK runs the market, get familiar.

>The Swiss City of Saint Gallen will use the SIX Digital Exchange (SDX) to issue a CHF 100 million, three year digital bond. This is the fourth municipality to issue a digital bond on SDX in the last three months. It coincides with wholesale central bank digital currency (CBDC) trials conducted by SDX, where the wholesale CBDC issued by the Swiss National Bank is used to settle the bond issuances.

>The Canton of Zurich (CHF 100 million) and City of Basel (CHF 105 million) issued bonds in November and Lugano issued a second CHF 100 million bond earlier this month. All were settled with the CBDC.

>To date, all the bonds listed on SDX have been denominated in Swiss Francs and are issued under Swiss law. However, last year FINMA gave the green light for bonds denominated in euros, including settlement using tokenized euros. With a wholesale CBDC Swiss Franc or tokenized euros, SDX enables atomic settlement or delivery versus payment, removing counterparty risks.

https://www.ledgerinsights.com/city-of-st-gallen-digital-bond-sdx/

>Terrorist financing. Money laundering. Ransomware. Murder for hire. Like any financial instument or technology, cryptocurrency and blockchain are not immune to being used for harm.

>A new fictional thriller, written by a Cornell Tech computer science professor, puts a fanciful spin on this reality. There are FBI agents, an assassination, kidnapping, and looted ancient artifacts alongside explanations of key blockchain features like smart contracts, flash loans, and coin mixers. All this, with a smattering of Greek mythology and history—a function of writer Ari Juels’ background in literature and mathematics.

>The book, dubbed “The Oracle”, features a software-developer protagonist who still wears T-shirts bought by his ex-wife 20 years ago. He’s got no social life to speak of—and he’s the target of assassins who’ll be paid via the execution of a smart contract if the hit is successful.

>Which all begs the question: could this fictional premise become startling reality?

>Today Citi announced its latest blockchain proof of concept involving the tokenization of a private fund within the Avalanche blockchain ecosystem. The tokenized fund was one of Wellington Management’s private equity funds, and the test also involved WisdomTree and ABN Amro.

>“Smart contracts and blockchain technology can enable enhanced rule-enforcement at an infrastructure-level, allowing data and workflows to travel with the asset,” said Nisha Surendran, Emerging Solutions Lead for Citi Digital Assets. “We believe that by testing the tokenization of private assets, we are exploring the feasibility to open-up new operating models and create efficiencies for the broader market.”

>ABN Amro played the role of a traditional investor requesting the tokenization. The tokens were transferred to hypothetical WisdomTree clients.

https://www.ledgerinsights.com/citi-fund-tokenization-trial-avalanche-blockchain/

>Yesterday, Jennifer Peve, the DTCC‘s Global Head of Strategy & Innovation, said that she doesn’t believe blockchain is a solution to help with the U.S. transition to one day (T1) settlement that will happen in May of this year.

>“If you’re speaking about U.S. public equities markets, there is a disconnect because of the performance and scale component,” she said.

>However, other sectors, such as private stocks, are a different story. She referred to “other markets that are probably not as high volume, low value, then I think you’ve got opportunities to really explore this concept of on chain, real time settlement, which I think is very interesting.”

>During the last couple of years, the DTCC has introduced several blockchain initiatives. In 2022 it launched a DLT-based stock settlement system for bilateral transactions that uses R3’s Corda DLT. It went live with the Trade Information Warehouse system for derivatives, which had a blockchain and conventional version.

https://www.ledgerinsights.com/dtcc-blockchain-t1-tokenization-potential/

>Big banks have had blockchain ambitions for nearly a decade, but so far they have only taken baby steps toward achieving them. This year will be different, many predict, as the experiments start to face real-world tests.

>To Goldman Sachs, the blockchain holds the promise to speed up settlement, reduce capital costs and create a secondary market for private assets. The bank has developed a digital-asset platform called GS DAP, which was built on a private blockchain and has been used by the European Investment Bank and the Hong Kong Monetary Authority to issue bonds.

>“It’s a great time to be in the space because now for the first time you do have all the applications, the systems that can talk to each other — they’re interoperable and modular, so that you can create proof-of-concepts and even end-to-end solutions,” said Jeremy Pollack, product manager at JPMorgan’s Onyx Coin Systems.

Chainlink dropped by Hong Kong Monetary Authority, partnership voided

https://www.ledgerinsights.com/hong-kong-digital-green-bonds-multi-currency/

>After Hong Kong issued its first digital green bond in February last year, the Hong Kong Monetary Authority (HKMA) previously confirmed it was working on a second issuance. The latest detail to be disclosed by Bloomberg sources is that the bond will be issued in four currencies: the Hong Kong dollar, Chinese renminbi, US dollars and euros.

>The HKMA said the first issuance demonstrated many benefits, including “efficiency, liquidity, and transparency.” However, it also highlighted the need for greater interoperability between DLTs and with legacy systems. It’s unclear how that will change for the second issuance.

>At least two other platforms – SDX Exchange and Euroclear’s D-FMI – integrated their DLT networks with legacy central securities depositories (CSDs). This supports the trading and transfer of bonds in the conventional manner as well as digitally.

The laziest, fakest, gayest software release in history. Remember when anons used to post github and pivotal updates? All of the 2018 era fun is gone. Sergey became a fat, lazy, rich fuck on our dime

Imagine believing a bunch of trillion dollar banks had your best interests in mind. There is no scenario where they will enrich you. This was the trap. These bankers are interested in keeping you poor. You missed the shitcoin surge again, because you think the people at Euroclear and DTCC are interested in pumping your bags?

They are playing you like a fiddle. LINK is a commodity and one without scarcity or demand. Even with LINK staking filling in 5 hours, you remove 40 million tokens from the market and replace them with a couple fresh batches in a cold wallet. There is no scenario in which they will let you win.

The reason CCIP isn't being adopted is because there are better solutions being developed by banks and stricter control around the tech. CCIP will be DOA and that's why it's not on mainnet, there's no one important/valuable that wants to use it.

Progmat in Japan is once again beating them to the punch.

https://www.ledgerinsights.com/tokenized-bonds-daiwa-securities-progmat/

>Daiwa Securities, SBI R3 and Progmat are partnering to create an end-to-end experience for tokenized bond issuance. Daiwa has developed a bond marketing pre-issuance solution using R3’s Corda enterprise blockchain. And it will integrate with Progmat, the tokenization platform founded by MUFG with backing from SMBC, Mizuho, JPX, SBI and others.

I work in this space and I can tell you to load up on whatever you see involved in these projects. Pic related is not one of them. Think smarter and make money anons. From Tokyo, with love

>>56281492

I sold on 10/4 for a basket of the top 15, excluding shitcoins and stables. Also for some ETFs. I feel better already. As I suspected, Smartcon kicked the can down the road for another year until the next one, and then the next one. All the conferences display is how Smart of a con they are, and I can't believe I fell for it buying a ticket all the way to Barcelona. The city is cool but fuck I could've done way more with that cash than spend it on some useless conference. Sergey is a bigger disappointment than Vitalik ever was

To any OG's still on the fence, sell now and don't look back. The vibe I got from the conference was "learn to code, make some apps, because we're indefinitely holding on the launchpad" If you want to make money, this isn't the project for that. I realize most of my peers already sold

I'm finally out fellas. I know I know, fake fud, you don't have that much, retard retard. Get it all out of your system

Truth is, I am flying back from Barcelona tomorrow and I couldn't be more eager to get out of this project. I can't believe I flew across the world for this. What I saw were people saying directly to my face, in more ways than one, that they need me to suffer so they can fund hordes of employees that produce at a glacial pace for the next 5-10 years, before I can begin to enjoy the fruit of my patience.

I met the team, I hold all the merch, I even planned on running a neet node. I can't do it anymore. There was no press here, even worse showing than last year in New York (last year's press section was empty but this was a ghostyard). No companies here using the products, not even trialing it. I don't care about the 15 year long bank trials, I'm talking tech companies who could integrate some of this shit tomorrow. Why isn't a single enterprise customer here showcasing how they're pioneering smart contract use? Its just "build on our cloud"

GM based Kings

Generational wealth awaits you

Reminder that Chainlink is the only crypto with official ties to SWIFT

Reminder that Chainlink is the only crypto with ties to the former Google CEO

Reminder that Chainlink once climbed up to rank 5 in the last bear market

Reminder that 25+ projects have already pledged 4% of their token supply to chainlink stakers