According to a report issued by Accenture, Blockchain technology startup Crowdaura will join 14 other startups to be included in Accenture’s 2016 FinTech Innovation Lab London, which is now in it’s fourth year. They are the only Blockchain startup in the 12-week long mentoring program which is geared to help new fintech startups and entrepreneurs with expertise from executives of financial institutions such as Bank of America, JPMorgan, UBS, Goldman Sachs among others.
Crowdaura plans to use Blockchain technology and a crowdfunding interface to provide a turnkey platform solution for marketing, issuing, trading, settlement and administrating decentralised financial securities. This reduces costs and increases the security and transparency for securities lifecycle management.
In a blog post on Linkedin, Dr. Avtar Sehra, founder and CEO of Crowdaura indicated that Crowdaura was currently working on a private chain setup using open source protocols for niche closed industries, and an open source layer to use public Blockchains, such as Bitcoin or Ethereum, to issue securities and execute Delivery Versus Payment settlement and dividend administration using fiat currency.
Our engineers are also working on a robust (open source) application layer that can utilize a public Blockchain such as Bitcoin (or Ethereum), to issue securities and enable tradability within a particular niche of the financial markets, but more importantly execute DVP (Delivery Versus Payment) settlement and coupon/dividend administration using fiat currency.
This example is just to highlight that we are at an early stage of development in this technology and nothing should be excluded. We are confident that over 2016 as more teams from various backgrounds start working together there will be some clever methods designed and developed to secure current and future Blockchain network deployments, and some of this innovation will come from finding useful applications of PoW or by combining PoW and PoS.
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