Developing trusted, distributed multi-party solutions with Applied Blockchain
Blockchain technology has come a long way since its earliest incarnation as a core component of the digital currency bitcoin. Because blockchain is a distributed database that maintains an unmodifiable list of records, companies like Applied Blockchain, a PrizmNet provider, are harnessing the technology to power a wide variety of applications in the capital markets.
Listed by Gartner as a Global Top 20 Development and Consulting Firm 2017, Applied Blockchain has developed a blockchain-agnostic technical framework that sits on top of any blockchain platform, and includes a number of enterprise grade modules. Its solutions incorporate components such as data privacy, security and interoperability that meet the operating requirements of regulated markets; and their development stack has been third-party audited for security stress testing.
Applied Blockchain develops solutions for customers in a range of sectors, including banking, e‑commerce and trade finance. The company’s solutions are especially suitable for applications that:
- Involve multiple parties who need to collaborate and trust each other, such as trading platforms
- Need to be based on an unchangeable record of transactions, such as regulatory reporting
For Capital Markets participants, Colt PrizmNet provides the connecting infrastructure between organisations that want to use Applied Blockchain solutions. The financial extranet easily underpins the distributed database model, and makes it fast and straightforward to add new members to a blockchain-based platform or application.
“We see huge opportunities for blockchain-based solutions in capital markets. In particular, we expect to witness increased ‘coopetition’ in the sector, as business competitors collaborate on developing mutually beneficial blockchain-based applications. We’ve partnered with Colt PrizmNet as it provides the secure, high-speed, global connectivity infrastructure that perfectly supports blockchain’s distributed architecture for capital markets participants.” — Peter Bidewell, Chief Marketing Officer, Applied Blockchain