For the last few months, GECKO Governance has been at the forefront of developing blockchain solutions for the funds industry.
While a lot of businesses in the financial services sector have been looking at how to harness Blockchain, for now, the technology is still nascent in some sectors. No one big bank or technology company has advanced Blockchain further than innovative internal piloting (e.g. Bank of Ireland and Deloitte’s partnership).
Indeed, banks are reticent to move their products and services completely over to a Blockchain, and rather run systems side by side, as a sort of “digital bank” – whereby a process of full migration towards Blockchain seems to be the most effective solution.
Whilst it is true that Blockchain is still very much a buzzword to some, we believe that the key future Blockchain technology is here and ready to be deployed.
GECKO Governance is developing a new blockchain integrated compliance and operational workflow solution using Hyperledger.
There are a number of competing Blockchain technologies at present (such as Multichain, Ripple and Ethereum), but the reasons for choosing Hyperledger are two fold. Firstly, the open-source Linux Foundation hosts Hyperledger as a collaborative project, which includes leaders in finance, banking, IoT, supply chains and technology. Secondly, premier members of the Hyperledger project include such high profile names like Accenture, American Express, IBM, Intel and JP Morgan.
There are currently a few products in incubation from the project. Those fully live include Sawtooth Lake, a modular distributed ledger suite developed by Intel and Cello is a toolkit for deploying a Blockchain-as-a-Service, built by IBM.
With this level of corporate backing, we believe Hyperledger will become the future standard Blockchain platform.
We are looking forward to harnessing the power of Hyperledger in our new suite of financial services compliance and operational solutions. This will include full Blockchain integration for managing complex workflows and processes in financial services and fund organisations.
More details of the Hyperledger project can be found at https://www.hyperledger.org/
You can keep updated with our new Hyperledger Blockchain solution at:-