RISE Financial Technologies (RISE) Launches Second Generation of Blockchain for Post-Trade Sector

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RISE Financial Technologies (RISE), a provider of distributed ledger technology for both post-trade settlement and securities safekeeping, has become the first technology firm to launch the second generation of blockchain for the post-trade sector.

“Distributed ledger technology is being hyped as the solution to fundamentally change the way key parts of the post-trade process – primarily clearing, settlement and safekeeping – work”, said Thorsten Peisl, CEO of RISE.  “But for this to happen, the technology has to be re-imagined and re-designed from the ground up so that its attributes are specifically matched to the particular needs of the post-trade sector.”

He continued: “RISE is the first firm to apply the next iteration of blockchain technology to settlement and securities safekeeping.”

RISE’s technology combines the best of traditional database technology, such as performance and confidentiality between trading counterparties, with key benefits associated with de-centralised ledgers such as data integrity or immutability.

However, RISE’s solution goes beyond just technology.

“The firm has put a lot of thought into what is needed for successful deployment in terms of how to embrace industry standards, align with current regulation, and how to handle the governance of the network in future”, says Ruud Sleenhoff, a former Chairman of the EBF for post-trading and advisor to RISE.

RISE also confirmed that it is testing its solutions with a number of leading financial institutions including banks, custodians, and CSDs. It is expected that the outcome of the testing will be published in the second half of 2016.

The core attributes of RISE’s technology are de-centralised ledger qualities and permissioned transparency, which gives access to different types of information depending on who you are.  So investors have sight and control over their assets but not those of other participants; issuers have a view but no control into final beneficiaries; financial institutions (ledger operators/validators) have access to client information; and regulators have a complete view of the information in their jurisdiction in real-time but no direct control over the assets.

These qualities are applied to ensure any ‘single point of failure’ inherent in many technology systems is removed and guarantees data integrity. As a pure technology provider, there is no operational dependency on RISE itself.

 

RISE is also looking to set up parallel industry verticals where additional financial institutions will be invited to join the firm’s existing test network.

Established in 2014, RISE’s management team comprises senior executives who have previously worked at leading financial institutions including State Street and Deutsche Bank. At the beginning of 2015, RISE acquired Cryptosphere Systems, one of the first technology firms to specialise in distributed systems. In mid 2015, RISE engaged economics consultancy Oxera to explore regulatory and economic aspects of a distributed post-trade environment.

About Richard Kastelein

Founder of industry publication Blockchain News, partner at ICO services collective CryptoAsset Design Group (helped raise over $200m+), director of education company Blockchain Partners (Oracle Partner) and ICO event organiser at leading industry event  CryptoFinancing (first ICO event in Europe) – Richard Kastelein is an award-winning publisher, innovation executive and entrepreneur. He sits on the advisory boards of half a dozen Blockchain startups and has written over 1200 articles on Blockchain technology and startups at Blockchain News and has also published pioneering articles on ICOs in Harvard Business Review and Venturebeat.
 
Kastelein has spoken (keynotes & panels) on Blockchain technology in Amsterdam, Antwerp, Barcelona, Beijing, Brussels, Bucharest, Dubai, Eindhoven, Gdansk, Groningen, the Hague, Helsinki, London, Manchester, Minsk, Nairobi, Nanchang, San Mateo, Shanghai,Tel Aviv and Venice. His network is global and extensive.
 
He is a Canadian (Dutch/Irish/English/Métis) whose writing career has ranged from the Canadian Native Press (Arctic) to the Caribbean & Europe. He’s written occasionally for Harvard Business Review, Wired, Venturebeat, The Guardian and Virgin.com and his work and ideas have been translated into Dutch, Greek, Polish, German and French.
 
A journalist by trade, an entrepreneur and adventurer at heart, Kastelein’s professional career has ranged from political publishing to TV technology, boatbuilding to judging startups, skippering yachts to marketing and more as he’s travelled for nearly 30 years as a Canadian expatriate living around the world.
 
In his 20s, he sailed around the world on small yachts and wrote a series of travel articles called, “The Hitchhiker’s Guide to the Seas’ travelling by hitching rides on yachts (1989) in major travel and yachting publications. He currently lives in Groningen, Netherlands where he’s raising three teenage daughters with his wife and sailing partner, Wieke Beenen.

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