Zug-based Trinkler Software announced the launch of Katallassos as the flagship project of a new standard framework for originating and issuing financial instruments.
The project builds on top of the ACTUS standard, in which standardized Contract Types (CTs) are the granular building blocks of the financial world. ACTUS aims to raise this standardization to a universal and global level.
The option of decentralized and non-custodial execution of derivatives within the context of a standard on a blockchain network are expected to be:
- access to any financial service from a single account
- no waiting time for bank transfers between accounts and brokerages and exchanges.
The automated execution of financial contracts
- a continuous real-time synchronized single golden source of truth for all secondary market analytics and reporting. Meaning the next housing bubble could be prevented due to better macroeconomic oversight
The Katallassos project will be a community-based initiative that will integrate with many existing blockchain applications and projects as well as traditional banking infrastructure. For developers, Katallassos will handle everything on the backend while giving access to financial products, services, and users that are integrated with the system and interact using the universal ACTUS standard.
The name ‘Katallassos’ is derived from the word ‘catallactics’, a term first coined by Austrian Economist Ludwig Von Mises. It is an economic theory that quantifies the scope of economics using human action as a metric for measuring an economy’s state. The greater the amount of action or participation, the healthier the state of the economy.