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16 (ANI): As cyber threats to the industry continue to evolve in complexity and intensity, emerging technologies such as permissioned blockchains can contribute to the important goals of combating cybersecurity risks and adequately protect consumers' financial information and the integrity of the global financial system, tech giant Microsoft said on Friday.
We are building a new open-source, permissioned, secure, decentralized and distributed global finance blockchain that over time will be transformed into a world mesh system for all forms of financial transactions: Equity issuance, debt issuance, P2P, corporate finance, investment banking, equity trading, debt trading, crypto trading, loan originating, trading clearing, custodial services, etc.
The EEA is also investigating hybrid architectures that span both permissioned and public Ethereum networks as well as industry-specific application layer working groups.
Once fully-developed, the DatChat blockchain technology is being designed to allow each message to become its own micro-blockchain that will be permissioned, private and controlled.
Registered developers will be able to submit applications through a system using private and permissioned blockchain technology to help ensure application integrity.
It offers different types of permissioned channels for interbank clearing and settlements.
Bankers as Buyers, cited, "Today, CUNA and Mountain West Credit Union Association are collaborating on CU Ledger, a research-to-action initiative that is investigating the viability of a private, permissioned distributed ledger that can be used by credit unions.
Blockchain can be public or permissioned with the permissioned model being adopted in most commercial projects as it allows the organisation to restrict who uses the system.
A distributed ledger technology, blockchain establishes a shared, immutable record of all the transactions that take place within a network and then enables permissioned parties access to trusted data in real time.
Manufacturers, shipping lines, freight forwarders, port and terminal operators, shippers and customs authorities will all be able to access to the platform's virtual dashboard on a permissioned basis.
The solution is based on the EdgeVerve Blockchain Framework, an asset agnostic and permissioned distributed ledger that allows banks to rapidly deploy blockchain-based services for varied business areas.
This is one reason why there are two kinds of blockchains--unpermissioned and permissioned.
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