Cryptocurrency News

D3ledger Bitcoin Storage Provider Opens New Crypto Asset Safekeeping Service

D3ledger is a provider of storage for crypto. It recently announced that it would offer safekeeping services using its platform. On October 16, AddCapital investment Funds began using the custody service offered by the platform. This safekeeping service is being offered in collaboration with Lykke.

The Issue At Hand

D3ledger will address the pressing need for the creation of a safe and efficient platform for investors in this emerging crypto asset class. According to Makoto Takemiya, the co-founder of D3ledger, this service will provide a means for institutional investors to deposit assets in an immutable manner. The end goal is the larger adoption of crypto assets.

Alex Prokofyev, the managing partners of AddCapital, said that his company found out the market was missing simple and effective solutions for secure asset storage. The solution needed to cover a wider array of crypto would be easy to access and friendly to regulation in various nations. Alex added that his company focuses on developing new financial instruments especially those that focus on new technology. He concluded by saying that he hoped D3ledger would soon become a widely accepted safekeeping and settlement service by the masses.

How D3ledger Works

D3ledger offers secure decentralized settlement and storage. To achieve this, it uses the Hyperledger Iroha blockchain platform that was created by Soramitsu and the open-source community. This hyperledger makes it possible to tokenize assets based on the distributed ledger tech. As a result, it offers a high degree of security and trust to users.

The D3 network is powered by the proof of stake consensus. This allows the D3ledger to process over 2 million safekeeping and settlement operations daily.

The D3ledger network is made up of three nodes for the pilot deal:

  • National Settlement Depository
  • Lykke
  • KDD (Slovenian CSD)

The Main Benefits Of The D3ledger

The code for D3ledger is found on Github and has passed a security audit by Lykke. D3ledger’s key feature is decentralization. It offers several benefits for financial intermediaries and crypto investors. These benefits are:

  • Sufficient regulatory transparency
  • Almost no risk of infrastructure downtime
  • Easy re-landings of account to new jurisdictions
  • Safe ownership via the identification of each owner through the network of nodes; the ownership of records is safe even where there is the bankruptcy of one of the partners
  • Easy to govern the network via the steering committing and democratic voting process

What The Top Leadership Had To Say

According to the CEO of Lykke Richard Olsen, the D3ledger will become an important pillar for the new digital markets ecosystem. It will enable the geo-distributed compliant custodial and settlement services. This will be essential for large-scale institutional adoption.

The co-CEO of Soramitsu Ryu Okada added that the services they offer would improve the reliability of crypto safe storage. It will bring the ability to recover possession of digital assets such as crypto and tokens in cases where the keys are lost. Ryu Okada is also a leading contributor to the Hyperledger Iroha platform and the D3ledger.



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