FundsDLT: Distributed Ledger Technology Asset Network?

FundsDLT is a platform that connects international transfer agent, payment systems as well as financial transfers. The network uses distributed ledger technology (DLT) and Blockchain’s smart contracts in an effort to improve the way financial transactions are done.

FundsDLT Rationale

FundsDLT seeks to counter some of the challenges facing the industry through the use of Blockchain technology. Various asset managers are constantly looking for a way to reduce costs in an environment where fees are exorbitant. Utilising the blockchain will help drive the pressure of these fees downwards.

The new regulations in the market are also changing the dynamics of the way funds are distributed and eventually asset managers may be left without a distribution network. It’s also a new era in the world of financial; thus asset managers need to move away from distribution and concentrate more on efficient operation and effective investment.

FundDLT Unique Features

The following are the features of the FundsDLT product:

  • Account management that covers ownership matters in terms of intermediaries and corporate.
  • Order routing to various ISIN over 60,000
  • Order management gets easier through simplified fee calculation
  • Cash settlements of transactions
  • Client on-boarding through KYC verification for retail investors
  • A user interface that allows real time monitoring

Benefits of FundsDLT

There are some advantages of using this network:

  • Transparency – On FundsDLT, asset managers have the opportunity to monitor the funds cash flow in real time and have a direct look at all the investors.
  • Efficiency – With DLT there’s reduced need to do reconciliations which increases the speed at which transactions are done.
  • Interoperable – The API allows for improved interoperability of those dealing with funds in the industry.

Facts About FundsDLT

The FundsDLT system uses a private blockchain network where notes are kept in a distributed ledger and the asset managers can leverage on the benefits of such a ledger. Data on this platform is also secure since there’s end to end encrypting which meets very high standards. There’s also an authentication mechanism which helps with data security.

The API technology available on FundsDLT helps reduce transaction costs and share more information on the network with service providers. In terms of reliability and scalability, the engineers on the platform have a network that maximizes performance.

FundsDLT Timelines

  • December 2016: Launch of the testing of phase 1
  • June 2017: First real live subscription on a fund
  • August 2017: Launch of testing of phase 2
  • September 2017: Finalize APIs and interfaces
  • December 2017: Finalize regulations; complete the testing of phase 2
  • November 2018: Live product, full issuance of shares of the fund

It’s clear that FundDLT is keen on shifting the paradigm on how asset management is done. The decentralized network on which the platform operates and the API to interface will make a huge difference. The network nodes are run locally, on cloud or at FundsDLT. There’s even the possibility of adding more nodes without having to shut down the entire system. FundsDLT is calling upon investors to participate in this revolution by registering on their site.

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