Global Debt Registry announced it has developed a collateral pledge registry using one of the Hyperledger blockchain framework implementations hosted by The Linux Foundation. This blockchain proof of concept supports the end-to-end assignment and release of pledge positions.
With this proof of concept – the inaugural blockchain application of its kind – GDR is using the latest technology to ensure collateral is better protected, said Charlie Moore, president of GDR in a statement.
“With a blockchain-supported decentralized ledger, the lending ecosystem will be able to rely on a permissioned single, shared view of the truth. This level of asset certainty in turn helps to fuel capital investment and industry growth,” he added.
Hyperledger Fabric, an open source collaborative effort created to advance cross-industry blockchain technologies, enabled GDR to write a complete application using a blockchain with integration into an existing front-end interface. This interface was successfully maintained through implementation of Hyperledger Fabric and Hyperledger Composer.
GDR is a private equity backed fintech firm that provides asset certainty solutions for institutional investors and warehouse lenders in the credit markets. The company is led by a team of senior executives from Thomson Reuters, Credit Suisse, Bank of America and Barclays.