In Sep 2017, we travelled to Switzerland to spend 11 weeks at the co-working space “Kraftwerk” in Zurich,as part of a select group of startups invited to digitalswitzerland Kickstart Accelerator program,
one of Europe’s largest and most competitive. Adjoint was selected in the Fintech vertical to demonstrate use of our distributed ledger and smart contract technology in the Swiss financial marketplace, especially in the context of market regulations like Basel III and MiFID II.
Adjoint had two key goals from the programme. One was to validate the advantages to enterprises of Uplink, our private permissioned distributed ledger with built-in financial smart contract capability. A second objective was to refine our partnership model with leading financial, consulting, technology and services firms. To this end, Adjoint have open-sourced Uplink, an initiative which was announced during the program.
As our contribution to the highly successful program, we came home with several partnerships and projects in insurance, banking and capital markets.
This includes a collaboration with EY to develop a blockchain-based treasury token and management system for a global insurance client. By running this initiative from the current PoC, through live pilot to a full roll-out, we will help corporate treasurers improve liquidity management and efficiency. This initiative helps realise the potential of DLT and smart contracts to reduce third party costs, to provide near real-time transactions, to improve data visibility and transparency, and to make related administrative work more efficient; all without needing volatile cryptocurrencies with unclear regulations.
A second key outcome was a letter of intent with Credit Suisse on using Uplink to improve compliance processes in FX operations. Through this initiative, Credit Suisse will leverage strategic partnerships to tap into innovative ideas
. We are excited to showcase how Adjoint helps financial enterprises innovate using disruptive technology,
If you would like to know about these initiatives, our technology or partnership programs, please drop us a note or give us a call.