Stock-market of Luxemburg in cooperation with Credit Suisse and other financial organizations getting started to launch a new investment platform “FundsDLT” based on Ethereum blockchain.
On the creation of this system are working not just a stock-market but also its sub-company Fundsquare, Credit Suisse’s department for asset management of the bank, companies Clearstream and Natixis Investment Managers. Thankfully to distributed ledger technology (DLT), FundsDLT will eliminate the necessity of making extra financial activities for distributors, institutions that serve crypto-farms and save them huge amounts of money.
“Credit Suisse, DLT and smart-contracts will simplify control over bills, processing of transactions and reporting about made spendings. Moreover, the system is using not just Ethereum blockchain but also privacy protocol Quorum for the highest level of security” — was said by one of the FundsDLT’s workers.
The representative of the company has specified, that the company will focus on certain services that usually require intermediaries, but DLT will do the work faster and in much better quality. The operational HR of NIM (Natixis Investment Managers) Joseph Pinto has mentioned the necessity of blockchain’s introduction in the area of investments, which will let their owners see all the incomes and distributions of gotten money. By the way, developers of FundsDLT claimed about starting the financing of Serie A. Credit Suisse has started testing of the blockchain technology for processing of deals with investment funds since February of the last year, which is pretty successful. Later top-manager of Credit Suisse Emmanuel Aidoo claimed that the introduction of blockchain in the banking system and the financial area has been held back by bankers who want to save their “status quo”.
