New Decentralized Derivatives Standard Framework Launches By Katallassos of Trinkler Software
Katallassos was earlier today named as the Trinkler Software flagship project. Trinkler Software is a firm which was founded by Reto Trinkler who is the co-founder of Melonport, Forbes 30 under 30 back in 2018 and a board member at the Web3 Foundation.
Katallassos is a new standard framework for issuing and organizing financial services and financial instruments.
The project behind Katallassos builds on top of the ACTUS standard which is a modeling paradigm where the standardized Contract Types are also the financial world’s granular building blocks. ACTUS strives at raising the standardization to the global and universal levels.
The derivates are the financial agreements between two or more groups that generate their value based on the underlying financial asset, entity or set of assets. The instruments can range from anything from the securities to items to the stocks to interest rates and the derivative contract is capable of representing anything from the forward contract, stock options, future contracts and more.
At present in the centralized banking world, the derivative financial instruments are being managed by custodians and are executed in a centralized place that requires inherent trust of the institution or the party that facilitates the contract.
The non-custodial and decentralized option of derivatives within the standard context on blockchain network and has concise and clear benefits for all the parties that are involved in the transaction process including:
- Access to financial services from a single account
- Automated execution of financial accounts
- No time for waiting bank transfers between brokerages/ exchanges and accounts.
- A progressive real-time synchronized one golden source of truth for all the reporting and analytics for the secondary market.
This means that the next housing bubble can easily be prevented due to great macroeconomic oversight.
Katallassos project is majorly a community-based initiative which will bring together several existing blockchain projects and applications as well as the traditional banking infrastructure that will leverage the excellent blockchain functionality for derivatives. In case of the developers, the Katallassos will be responsible for all the things at the backened while enabling full suite access of financial services and products and users that have been integrated into the system and interact using universal ACTUS standard.
There is no need to worry about the backend Katallassos deals from the POV developer and in the near future, access to the full ecosystem/network.
The Founder and CEO of Trinkler Software AG, Reto Trinkler, said, “ the main Katallassos goal is to help in creating a specialized blockchain that will act like the bridge between the decentralized world and the traditional financial system making it possible for them to easily interact with each other. To achieve this, we will be taking a true and tried financial agreement classification standard and will be coming up with a tool for it and an environment that is decentralized around it.”
Katallassos derived from the word ‘catallactics’ refers to a term which was first coined by Ludwig Von Mises, the Australian economist. Katallassos refers to an economic theory which quantifies the economics scope using the actions of human beings as the metric when it comes to measuring the state of an economy.