Blockchain presents opportunity for banking system

Bond.One is an American firm transforming how the capital markets function. Bond.One leverages distributed ledger technology (DLT) to facilitate protocol-driven settlement and reconciliation of cash and investment transactions. This enables issuers, asset servicers, trustees and asset owners to automate much of the middle- and back-office administrative functions that hamper productivity.

Challenge

The settlement and reconciliation of fixed income instruments have historically required immense human capital supplemented by archaic systems and processes. As a result, investors waited weeks or even months to receive reports on the performance of assets, particularly in the case of asset-backed securities and other structured products. The introduction of blockchain technology now makes it possible to streamline these administrative functions, providing unprecedented transparency in the fixed income markets.

By providing permissioned access to a master ledger for all counterparties in the capital markets value chain, there is now a source-of-truth, enabling investors to have more confidence in their holdings, and regulators to more effectively monitor and provide oversight of market activities.

Solution

Bond.One’s blockchain solution was built on Microsoft’s Blockchain service with a full DevOps setup. cVation was the development partner responsible for design, development, and on-going operations for the technology platform to support Bond.One’s platform offering. Bond.One needed access to specialists across not only blockchain, but also traditional programming capabilities to ensure successful deployments among its clients in the capital markets. cVation’s experience developing native cloud solutions on Azure and core competencies within Azure Blockchain Service were important reasons they chose us.

Facts

The solution is based on Microsoft Azure technology, and leverages many manages PaaS services:

  • Azure Blockchain Service

  • Blockchain Data Manager

  • Event Grid

  • Service Bus

  • CosmosDb

  • App Service

  • Azure AD B2C

  • API Manager

  • SignalR

  • Service Key Vault

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We consider cVation’s cutting edge development capabilities, coupled with its alignment with Microsoft Azure, as absolutely critical to our success.

John Mizzi, Chief Operating Officer, Bond.One

Results

Bond.One supported one of the first compliant-debt offerings on the blockchain. The platform’s capabilities have continued to evolve, supporting end-to-end administration for asset-backed securities and other structured products. Distributed ledger technology is slowly but surely changing the way that trustees and administrators are able to perform their business functions. Bond.One’s solution streamlines the settlement and reconciliation function, creating massive operation leverage by automating manual tasks.

The platform not only provides a more connected and digitally-enabled marketplace for fixed income instruments, but also transparency in what is still an extremely opaque asset class. Bond.One introduces standardized reporting schemes and protocol-driven transaction processing that will help market participants and regulatory authorities realize more efficient debt capital markets. .

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