is this competiton or partnership

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is this competiton or partnership Anonymous Mon Oct 14 06:17:33 2019 No.15914406 [Reply] [Original]

The credit rating arm of financial services giant Morningstar is developing a blockchain platform for the $117 trillion debt securities industry.

Morningstar Inc., is valued at $6.4 billion

So far, Morningstar has been working on two major blockchain-based efforts in the debt securities industry. One of them intends to put Morningstar’s system for rating bonds directly on the Ethereum blockchain via a technology called an oracle, the report notes.

Oracles move data onto a blockchain in a way that ensures the data is not manipulated and therefore makes it eligible to be used in a smart contract.

The second project involves making quantitative rating models for debt securities available on a blockchain. Credit agencies use said models to determine the creditworthiness of different types of debt securities.

“We’re working very closely with a number of blockchain-oriented firms who are looking to issue debt instruments on a blockchain,” says Morningstar Credit Ratings chief operating officer Michael Brawer, 48, who oversees the company’s internal strategy. “We're looking to see how we can also provide credit opinions, whether it’s a credit rating or different types of credit data and credit analytics that accompany those debt instruments, and we’re also looking to provide our services on a blockchain.” In May, the company said in an email that it was in conversations with as many as nine blockchain startups interested in doing everything from originating assets on a blockchain that could later be securitized to facilitating debt issuances to selling products to financial institutions that want to issue debt on a blockchain.

In Morningstar’s case, the company is building its smart contract oracle, or “smart oracle,” as Brawer calls it, using a small team of existing employees.

According to Brawer, the smart oracles project could be ready as soon as the end of 2019, but the blockchain modeling project might not be ready for launch until the end of 2020.

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