Cryptody is a program aiming at providing to the Capital Markets and Alternative Finance a post trade solution for “digital securities”, “digital assets” or "crypto-assets". Cryptody is linking Blockchain based tokens together with the traditional world of investors.
The Cryptody Programme
Launched in mid 2015, this programme had the initial objective to provide a post-trade infrastructure to alternative finance.
It rapidly proved that the model proposed is also viable for other assets and Cryptody was also envisaged as a solution for investment funds distribution.
With the rise of ICO, Cryptody was adapted to be able to issue utility tokens and following the enthusiasm around tokenization, now implanting securities token support.
One of the original particularities of the programme is that Cryptody does not rely on crypto-currencies and uses fiat money -as most assets are denominated in euros, pounds, dollar,...
But the latest developments of central banks crypto currencies may provide a valid opportunity to support these new payment means.
Data-centric model
The first step of the programme was to think about the evolution of the market model in the case of the adoption of a blockchain / or DLT technology. Started end of 2014 it really focused on:
- Capital Market model and its organization
- Representation of existing assets on the Blockchain
- How investors could interact with issues / fund manager
- Role of intermediaries
- Potential new players
Cryptody prototype
A first prototype was built and presented during spring 2016.
Main objective was really to trigger discussions and give ideas of how processes can evolve adopting a data centric market model, instead of a linear model with data flying from actor to actor.
The 2016 prototype contains the following features:
- Issue of certificates of ownership (representing real assets digitalized on Blockchain)
- Display of shareholding registry
- Payment of dividends using fiat money (SEPA)
Version 1 of Cryptody
Version 1 of Cryptody was conceived using advised from key client representative and visionaries in alternative finance.
- Integration with a KYC onboarding tool
- implementation of the data-centric model using an existing public Blockchain
- Integration of the banking partner APIs
- Enhancement of the back office workstation
- Login with a self-sovereign identity wallet
- Development of an API layer
- Usage of decentralised storage
- Integration with digital asset custodians
Why Finoryx ?
- Our objective is "Value Creation"
- We keep the focus on processes, not on technology!
- You can benefit from the agility of a startup combined with solid experience of consultants.
- We want to work in a mutually beneficial partnership
- And we have real experience in implementing Blockchain solutions
Credits: HTML5 UP