The platform, custom built for Unigestion, a Switzerland-based management company, features an active node that is already providing real-time data to a European regulator. The regulatory node itself is being overseen by Guernsey Financial Services Commission, UK-based, which regulates 2,000 licensees from the banking sector and other financial services around Europe.
The financial institution has decided to build the platform as the blockchain solution could offer its clients an accelerated time to market for a new crop of high-tech private equities funds.
According to the parties involved, development on the blockchain implementation started in 2016 when Northern Trust contacted IBM to explore how the technology might simplify private equity, with relatively few, but highly complicated transactions. Instead of high-frequency transactions that have tested blockchain’s ability to scale, the private equities industry consists of large investments from a few parties over long periods of time.
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