Allfunds and ConsesSys team up to advance fund industry blockchain tech
The partnership will combine Allfunds’ technical solutions and ConsesSys Quorum, an open-source protocol layer for developing with Ethreum, to power the Allfunds Funds Industry Platform. It will offer two independent solutions – a technical solution to add unique capabilities on top of ConsenSys Quorum solving major concerns about data governance in blockchain systems and a business solution that enables fund distribution activities on the platform. Blockchain systems ease regulatory compliance by providing audit trails, which can be used in highly regulated fund industries. The partnership will also focus on the development of the Enterprise Etherum ecosystem.
Launched in 2020, Allfunds Blockchain, a blockchain-based technology platform from Allfunds, uses its blockchain technology to streamline global fund distribution industry. Ruben Nieto, managing director at Allfunds Blockchain said that they chose ConsenSys Quorum for their enterprise blockchain protocol because of its significant adoption in enterprise blockchain. Madeline Murray, product lead at ConsenSys Quorum, said that this partnership will further facilitate global blockchain adoption for the funds industry and enrich the ecosystem with technical innovations suitable for advanced privacy use cases.