The Chamber of Digital Commerce, the world’s largest trade association representing the Blockchain industry, and the Structured Finance Industry Group (SFIG) today announced the formation of a strategic partnership focused on advancing the use of Blockchain technology in securitization markets.
The partnership will commence with the publication of a co-sponsored white paper titled, “Applying Blockchain in securitization: opportunities for reinvention” and a series of educational activities at SFIG Vegas 2017, the largest gathering of the structured finance industry, which begins today in Las Vegas, Nevada.
The goal of the partnership is to bring the structured finance and Blockchain communities together. The two organizations will collaborate on research efforts and publications, joint educational programs and online forums.
In addition to a detailed examination of how Blockchain can play a role at each stage of the securitization lifecycle, the white paper, prepared by Deloitte, outlines five distinct benefits for Blockchain in structured products:
- Single, Consistent source of information – Blockchain enables a single, consistent source of information for all participants in the network.
- Complete, immutable audit trail – From loan origination to primary issuance, servicing, and changes in ownership in the secondary market, Blockchain can create a chronological and immutable audit trail of all transactions.
- Better valuation and price discovery – The transparency facilitated by Blockchain technology could reduce the information asymmetry and network disadvantages that some entities, especially smaller ones, currently face in the securitization industry.
- Speed and certainty – Blockchain technology, through its disintermediation and simultaneous recording of information across the system, can virtually eliminate time lags in information and payment flows throughout the securitization process, including in the secondary market.
- Security – Blockchain’s capacity to increase the security of transactions and data, and mitigate fraud could be appealing to the securitization industry, where integrity of data is paramount.
“I am pleased to announce this strategic initiative with the Chamber of Digital Commerce, which has established an important position in representing the growing Blockchain industry,” said Richard Johns, SFIG Executive Director. “Partnering with the Chamber is a key part of our focus on being a central resource of forward looking education to all market participants. With this partnership we can create new, forward-thinking and educational opportunities for our members enabling them to stay fully informed of how technology is impacting their business. Today’s whitepaper is just the beginning of what we expect to be a very active and productive partnership.”
“The securitization process is an ideal candidate for the efficiencies of distributed ledger technology,” said Perianne Boring, founder and president, Chamber of Digital Commerce. “Blockchain platforms create a more transparent and secure marketplace allowing the industry to provide better products more securely at lower cost. This will also enable the market to more efficiently comply with regulations, while at the same time allowing automation to create significant efficiencies for the role of the regulator itself. Our partnership with SFIG is an opportunity to accelerate the understanding and adoption of Blockchain technology in this sector.”
Structured Finance Industry Group, Inc. (“SFIG”) is a member-based, trade industry group focused on improving and strengthening the broader structured finance and securitization market. SFIG provides an inclusive network for securitization professionals to collaborate and, as industry leaders, drive necessary changes, be an advocate for the securitization community, share best practices and innovative ideas, and educate industry members through conferences and other programs. Members of SFIG represent all sectors of the securitization market including issuers, investors, financial intermediaries, law firms, accounting firms, technology firms, rating agencies, servicers, and trustees. Further information can be found at www.sfindustry.org
The Chamber of Digital Commerce is the world’s leading trade association dedicated to promoting the understanding, acceptance and use of digital assets and Blockchain-based technologies. Headquartered in Washington, D.C., the Chamber is the founder of the Smart Contracts Alliance, the Blockchain Alliance, the Global Blockchain Forum and many other key industry initiatives. For more information, please visit DigitalChamber.org or follow us on Twitter: @ChamberDigital.
- CEO Patrick M. Byrne Resigns From Overstock Over ‘Deep State’ Comment and Affair with a Russian Spy – Stock Rises - August 22, 2019
- Telx Technologies Launches World’s First Cryptocurrency Sim Card Wallet And Phone Number - August 22, 2019
- Chainalysis Launches Real-Time Alerts for Suspicious Transactions For 15 Cryptocurrencies - August 22, 2019
- Factom Launches New Stablecoin called PegNet Stablecoin - August 22, 2019
- HitBTC Cryptocurrency Exchange Offers Massive Rate Cuts - August 22, 2019
- American Classic Beer Miller Lite Teams Up with Blockchain Vatom Labs to Create New Customer Experiences - August 21, 2019
- WordProof and WORBLI Partner To Bring Online Content Transparency Using Blockchain Technology - August 21, 2019
- Polkadot Cuts Deal with Blockchain – 41M Wallets to get Polkadot.Network DOTS - August 20, 2019
- David Chaum’s New Quantum-Resistant Digital Currency, Praxxis, Has Arrived - August 20, 2019
- New Satoshi on the Block Plans a ‘Reveal’ – Bitcoin Community Responds - August 19, 2019
- Binance Announces Open Blockchain Project ‘Venus’ – Calls on Governments, Companies and Organizations to Develop Localized Stablecoins - August 19, 2019
- Blockchain-Fueled VeganNation raises $10 million for Vegan Global Marketplace - August 19, 2019
- Fight to Flame – Mike Tyson Denies Issuing Token and Working With Fight2Fame - August 17, 2019
- Bitcoin Wealth is Almost 50 Times More Concentrated than Global Wealth According to PARSIQ Research - August 16, 2019
- Graph Blockchain Signs LOI to Acquire Cyberanking Ltd. an Esports Company - August 16, 2019
- Blockchain Moves Into The US’s Largest Oil Fields With Data Gumbo - August 16, 2019
- BlockStar Teams Up With Cycling Apparel Brand De Marchi to Auction Fausto Coppi’s Cycling Jersey - August 16, 2019
- Zcoin Available to Five Million Merchants in Thailand - August 16, 2019
- Republic Partners with Althea to Launch First-Ever Compliant Security Airdrop for Retail Investors in the U.S. and Abroad - August 14, 2019
- Mark Cuban’s Dallas Mavericks Basketball Team Join Up With Bitpay To Accept Bitcoin For Tickets And Gear - August 14, 2019