Blockchain-based applications are revolutionizing the way trading in various assets (currencies, chargeable gift cards and commodities=bills of lading) is currently being carried out, as well as autonomous performance of contingent contracts, voting mechanisms as well as many other services.
This revolutionary angle stems from adopting the principles of the technological infrastructure used in Bitcoin. These principles can be used to decentralize trade and services in a secure fashion and forego the need to use intermediaries and clearing houses. Also, trading processes become simpler, quicker and more efficient.
HMS, in collaboration with an Israeli startup company, is currently developing a platform for the selling of loan portfolios and reinsurance portfolios to the financial sector.
The proposed solution provides mechanisms for resolving the following challenges:
The gist of Blockchain’s technological idea is the use of a Distributed General Ledger, whereby a copy of any information regarding, for instance, ownership of a particular asset, is being managed via several distributed modes.
Each mode stores a full copy of the asset holders ledger, which gets updated following any trades which are being executed in the asset.
Any trade in a particular asset may be executed only by the asset holders, via a secured mechanism.
Decision making and work rules exist for storing an identical, distributed copy of the asset holders ledger.
Here is a video explaining the Blockchain mechanism:
For more information – please contact Reshef Radin, a member of HMS BOD team and head of the company’s Advanced Solutions Division.