Blockchain
Nabatech To Build CBDC Solutions On Polkadot’s Substrate Blockchain
Nabatech Chooses Polkadot’s Substrate for Central Bank Digital Asset Platform
Nabatech, a Swiss digital asset specialist, has selected Polkadot’s Substrate blockchain framework to develop its digital asset platform, aimed at serving central banks and financial institutions.
In-Depth Evaluation Process
Nabatech, a joint venture between SICPA—a leading cash cycle expert for central banks—and INX, a US-regulated asset tokenization platform, conducted an extensive analysis of seven potential blockchain platforms before deciding on Substrate. The evaluated platforms included Ethereum, Hyperledger Fabric, Cosmos, and Polygon. The selection criteria encompassed Sybil resistance, coding language, runtime, security, governance, interoperability, and business process integration.
Why Substrate?
According to Nabatech CTO Paz Diamant, Substrate’s flexible and modular design stood out during the evaluation. “Substrate’s framework can be quickly adjusted to suit any business or technical requirement, flexibly, without compromising on security or scalability,” stated Diamant. This adaptability makes Substrate ideal for supporting various digital assets like central bank digital currencies (CBDCs), digital bonds, and stablecoins.
Strategic Use and Benefits
Nabatech’s platform, built on Substrate, is already functioning as a sandbox environment for central banks, providing critical infrastructure solutions. Key benefits include:
– Security and Stability: Essential for central banks and financial institutions.
– Modular Structure: Allows customization to align with specific monetary policies and financial strategies.
– Retail and Wholesale Transactions: Supports both types of CBDC transactions.
– Lifecycle Management: Enhances currency supply, transfer, settlement processes, and sovereign compliance optimization.
Growing Interest in CBDCs
The interest in developing CBDCs is growing globally. For instance:
– Rwanda has announced plans to launch its CBDC within two years, aiming to improve financial inclusion and provide a safe alternative to cash.
– Ripple Partnerships: Ripple CEO Brad Garlinghouse revealed collaborations with nearly ten governments to develop their CBDCs using Ripple’s blockchain technology.
Nabatech’s selection of Polkadot’s Substrate framework underscores the platform’s robust capabilities in security, scalability, and flexibility, making it a preferred choice for developing sophisticated digital asset solutions for central banks and financial institutions. This move is a significant step towards modernizing financial infrastructures and supporting the global shift towards digital currencies.
Source: cryptodaily.co.uk
The post Nabatech To Build CBDC Solutions On Polkadot’s Substrate Blockchain appeared first on HIPTHER Alerts.
Blockchain
India Electronic Contract Services Market to Worth Over US$ 624.33 Million By 2033 | eSignature Demand Among Financial Institutes to Remain High Says Astute Analytica
Blockchain
UNICC and ShelterZoom Developed a Secure Document Tracking and E-Signature Solution for the UN System
The United Nations International Computing Center (UNICC) and ShelterZoom are pleased to announce a new innovative blockchain-based solution for controlling and protecting the digital data of UN entities and other international organizations. As the largest strategic partner for digital solutions and cybersecurity within the UN system, UNICC has partnered with ShelterZoom, a leading data and content protection and ownership SaaS company behind innovations such as Document Token® technology and Document GPS®.
Building upon the 50 years of experienced innovation from the UNICC, the two organizations collaborated on a transformational undertaking offering robust protection and promising increased productivity for document tracking and management. ShelterZoom will contribute its proprietary document tokenization technology, along with its data protection, document tracking and e-signature solutions to deliver a white-labeled platform, giving member organizations a greater level of governance over their content. Using ShelterZoom’s flagship proprietary Single Source Of Truth® technology, the solution provides a means for each file to be protected individually without changing user normal habits instead of having to rely solely on protecting files at the database level. This ‘singularity and control’ is a new era in cybersecurity and document management, which has never been seen before at this level of seamless integration with existing tools.
“The synergy between what we deliver and the goals of the United Nations are a perfect match for Single Source Of Truth,” said Chao Cheng-Shorland, CEO and Cofounder of ShelterZoom. “We have said from the beginning that it is time to think about cybersecurity in a completely new way and in doing so we have created a solution to address other operational pain points while simultaneously solving one of the biggest challenges facing the global population today. The UN is at the frontlines of changing the world for the better and its forward-thinking approach to using technology to address fundamental issues is critical in improving livelihoods for all.”
ShelterZoom solutions have already been in use across dozens of industries and with this new commercial partnership, they can now extend their usefulness to the UN family and other international organizations. The revolutionary method for complete document tracking with built-in productivity tools, such as digital signatures and a market-first method for organizing files inside email, is an all-in-one solution built for a global workforce. The Single Source of Truth model has the added benefit of decreasing the carbon footprint created by excessive digital waste, further supporting the sustainability goals of the United Nations.
“The need for robust cybersecurity and data protection has never been greater,” said Sameer Chauhan, Director of UNICC. “By working together with ShelterZoom, we have developed a cutting-edge tool tailored to the needs of the UN family. Our unwavering commitment to providing best-in-class solutions ensures we continue to support the digital transformation and modernization of the UN system and other international organizations.”
The post UNICC and ShelterZoom Developed a Secure Document Tracking and E-Signature Solution for the UN System appeared first on News, Events, Advertising Options.
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