Large investment firm Vanguard has announced a blockchain project to digitize asset recovery security.

Redblock Inc view 43 2020-6-12 23:02
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Vanguard Group, one of the world's leading financial leaders, has completed the first phase of a blockchain pilot project focused on Digital Image Advertising (ABS).

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According to the press release: As of April 30, 2020, the US market capitalization is $ 5.7 trillion in assets under management and has previously worked with New York-based blockchain company Symbiont. Other companies are partnering with large companies in the United States ABS, BNY Mellon, Citi and State Street.

Vanguard uses Symbiont's Assembly DLT industry blockchain platform "to complete the test, complete the entire life of the ABS payment technology distribution technology (DLT) network through point product reconstruction printing medium rare".

The report notes that the use of smart contracts aims to provide more detailed information, improve the value of discovery and the aftermarket, and increase awareness of the functioning of important organizations using public infrastructure open to all parties. .

Asset backed securities are a form of investment, like mortgage contracts and rates. This can include loans, mortgages, credit card debt, cash, or royalties. The management of ABS is similar to the repayment of a loan, and differs from the titles below. Entrepreneurs often use asset backed securities as an alternative in the real estate industry.

Vanguard and Symbiont have been working together to enter the blockchain industry since December 2017. At the same time, the two companies have been working together to provide flexible solutions for data sharing. Description: In 2019, Vanguard announced the DLT project and invested $ 1.3 trillion in it.

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Symbiont CEO Mark Smith said of the breakthrough: "This is an important milestone in the transformation of capital in the blockchain technology industry. Real-time ledger-based advertising."

"Pioneer Group is committed to providing innovative global solutions that support the development of the financial services industry."

“By digitizing and simplifying the ABS process, we will increase the speed and transparency of operations while reducing costs and risks, which will ultimately be passed on to the next generation,” said Warren. Pennington, CFO, Vanguard Fintech Strategy Group. Group. talks about a better business model. "

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