BNP Paribas AM Completes Blockchain Test

It is stated that Fund Link programme is able to connect with other blockchains
10 January 2018   313

BNP Paribas Asset Management announced on January 10 that the company has successfully completed a full end-to-end fund transaction test late last year, using blockchain technology.

The test has been conducted leveraging on BNP Paribas Securities Services’ blockchain programme, Fund Link, and FundsDLT, a blockchain based decentralized platform for fund transaction processing, which has been developed through collaboration between Fundsquare, InTech and KPMG Luxembourg.

We have a unique opportunity to continue shaping the future of the asset management industry using digital technology, and transform the fund distribution process. While investors will benefit from reduced transaction time, we will also profit from a sleeker, more streamlined system underpinned by technology and relevant for all fund types and geographies.

 

Fabrice Silberzan

Chief Operating Officer, BNP Paribas Asset Management

It is stated that the test demonstrated that Fund Link is able to connect with other blockchains, opening the door to a new model of interoperability and marks a key milestone for fund distribution. The transaction included each part of the fund trade process, from delivery of the order to the processing of the trade.

Bank of China Filed a Patent to Scale Blockchain Systems

Bank of China has filed a patent application for a process able to scale blockchain systems  
23 February 2018   95

According to a document released by China's State Intellectual Property Office (SIPO) on February 23, the application was invented by Zhao Shuxiang and first submitted on September 28 last year.

The application states that instead of letting a new block store transactions from its previous one, a data compressing system could be used to pack transactions from multiple blocks into what the patent calls a "data block."

For example, when the system receives a request to compress transactions from block 1 to 1,000, it causes a new data block to be formed and temporarily hosted on a different storage system. Then, the system will run the packed data through a hash function with a hash value. After that, the compression system will attach labels in order to identify blocks on the blockchain.

With the use of the described method, the patent claims a reduction in the amount of the data stored in new blocks as transactions mount in a blockchain while ensuring that data from all previous transactions will still be tamper-proof and traceable.

At the moment, the patent in the review process.