ADDX bags $58M to reduce min. private investment by 10x via smart contracts
ADDX uses blockchain technology and smart contracts to tokenize and fractionalize private markets, including pre-IPO equity, private equity, and hedge funds and bonds. ADDX, a blockchain and smart contract-based digital securities platform from Singapore raised $58 million from mainstream financial institutions to fund its goal of reducing minimum private investment sizes via tokenization and fractionalization.The Monetary Authority of Singapore regulates ADDX as a digital securities exchange that aims to democratize private markets. The Pre-Series B funding round saw participation from....
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With contributions from Zerado, FinTech Network have produced a whitepaper that looks at smart contracts and how they could improve efficiencies within the banking sector. The whitepaper highlights: How smart contracts aim to provide security that is superior to traditional contract law and ways they can reduce other transactional and administrative costs. The workings of Ethereum as one of the best examples of smart contracts in practice. Ways that smart contracts could benefit areas such as mortgages, clearing and settlement, KYC & bonds. How challenges with conceptual misalignment,....
Will blockchains that various financial institutions are investing in nowadays create “smart contracts” that perform financial services without the inefficiency or risk of intervention created by an intermediary counterparty agent? Smart contract technology, like bitcoin, can circumvent regulatory infrastructures, which could reduce costs for financial transactions. An important feature of a smart contract is the ability to reduce risk through non-discriminatory execution. The lack of a central counterparty agent can enable such contracts to service markets with greater efficiency. Chris....
Interests in smart contracts have grown lately especially with the formation of The DAO – Decentralized Autonomous Organization which is based on Ethereum. What Are Smart Contracts? They are computer applications in which contracts are written into computer code and perform or execute automatically. These applications are expected to run as programmed without any possibility of downtime, censorship, fraud or third party interference. These trusted and permanent records shared across parties through a tamper-proof network have the potential to reduce costs, increase automation, and remove....
Smart contracts present one the most promising tech solutions for business, but there are still barriers that have to be addressed. The internet is buzzing over recent developments in decentralized finance, or DeFi — smart contracts are hotter than ever. You might think you missed the coronation ceremony, but smart contracts are actually used in only a small corner of the crypto world, albeit a corner worth billions of dollars. It’s a promising concept that has gone widely unused in the business world.Despite the headlines and in spite of crypto-cloistering, smart contracts are not....
More than 20 years ago, Nick Szabo proposed the use of a 'smart contract' to reduce fraud and enforcement costs associated with traditional paper contracts. His smart contract would be implemented as a “computerized transaction protocol that executes the terms of a contract” – in other words, a computer program. Like any other software, a 'smart contract' computer program would receive inputs, run a series of program steps, and supply outputs. For example, the smart contract could wait for a predetermined condition to occur (eg: a stock reaches a particular price), automatically deem the....