Distributed ledger technology serves as the legal record and validates the secured party’s control over real-world assets received as collateral in case of counterparty default

LONDON, Oct. 2, 2024 /PRNewswire/ — Digital Asset, a leading provider of blockchain solutions, today announced that it has completed a collaborative initiative to successfully tokenize gilts, Eurobonds, and gold.

Euroclear, The World Gold Council, and global law firm Clifford Chance were among a broad group of pilot participants- which included investors, banks, CCPs, custodians, and a central securities depository. The aim was to demonstrate how tokenized assets on a blockchain can enhance collateral mobility, improve liquidity, and increase transactional efficiency.

The growth and use of gold as a traded asset show no signs of abatement, with the average daily trading volume in 2023 reaching $162 billion worldwide. Sovereign Gilts and Eurobonds offer a deep pool of high-quality liquid assets. As of mid-2023, the total market of Gilts in the UK amounted to nearly GBP 2.4 trillion, with over EUR 12.97 trillion of outstanding Eurobond issuance.

The program, which took place over June and July, involved 27 market participants and used 14 Canton nodes. Five types of cross-application transactions were connected using eleven distributed applications, including six registry apps and five margin apps, with 500 transactions completed. The collaboration demonstrated the ability to create a digital twin of these previously immobile real-world assets (RWAs) and use those tokenized assets as collateral in atomic, real-time transactions.

Olivier Grimonpont, Head of Product Management, Market Liquidity, Euroclear said, “We recognise the immense value in industry experimentation to showcase the advantages of DLT for the market. As we strive to deliver even better and faster collateral mobilisation for our clients, digital technologies like DLT will be key enablers for us to achieve this.”

“This signals another step forward in the development and adoption of tokenized assets in collateral management, creating a more mobile operating model across different parties,” said Kelly Mathieson, Chief Business Development Officer at Digital Asset. “Our work with the pilot participants has demonstrated that tokenized assets can be used with immediate effect to meet intraday margin calls outside of normal settlement cycles, processing times, and time zones. It also demonstrated how the ledger can serve as the legal record and has validated the secured party’s control over the digital twin and real-world assets received as margin or collateral in the event of a counterparty default.”

“By digitising gold, we can overcome the perceived restrictions on moving and storing the physical metal, enabling this high-quality asset to be mobilized and used seamlessly within financial markets,” said Mike Oswin, Global Head of Market Structure and Innovation at the World Gold Council. “To achieve this, the tokenization process must be able to specify a Standard Gold Unit (SGU)™ that represents and transfers the monetary value of an agreed amount of pure gold. An attributes record can be created as a secondary token that will maintain details of the gold bars collateralized in the ecosystem. This would enable all physical gold of trusted integrity to be utilised as financial collateral, irrespective of its physical attributes and location.”

Clifford Chance, who observed the pilot, offered this opinion on the legal implications of utilizing a digital twin of a real-world asset:

“With certain approaches and platforms, a digital twin is not a separate asset and so the impact for master agreements, trading relationships, close-out processes, and valuation approaches are minimised, but it is always important to ensure the digital twin is catered for and reflected into existing product and platform documentation. As an operational and record-keeping tool rather than an asset, some of the legal and regulatory issues can be reduced while avoiding extensive surgery or a wholesale reset of established product and asset documentation,” said Paul Landless, Co-Head of Fintech and a Tech Group Leader at Clifford Chance.

The initiative builds on the successful Canton Network Pilot earlier this year, which established the foundation for composable applications across a global economic network. Several projects, including the recently announced tokenized US Treasuries Pilot, are exploring more targeted use cases in response to participants’ requests.

Digital Asset provided the necessary infrastructure, applications, and connectivity for market participants to test complex business scenarios. A series of independent Canton blockchains used the Global Synchronizer to interoperate and execute atomic transactions. Participants remained in complete control of their permissions, exposures, and interactions.

To learn more, visit here to see the full report.

About the Canton Network

The Canton Network is the financial industry’s first and only public chain that can achieve on-chain privacy, control, and interoperability, making it the most suitable network for institutional assets. The Network launched for testing with the participation of a group of leading financial institutions, infrastructure providers, technology firms, and consultants in August 2023. Initially built upon Digital Asset’s technology, the Network’s controls, governance, and app development have been open-sourced and decentralized to be managed by all participants, with the goal of fostering greater innovation and Network utility. 

The Canton Network’s design overcomes the shortfalls of existing blockchain networks by enabling previously siloed systems in finance to become interoperable and synchronized in ways that had been impossible before. Offering the privacy and controls required for highly regulated organizations, the Canton Network creates a safe environment in which assets, data, and cash can move freely across applications in real-time, unlocking new efficiencies and powering innovation.

Press Contacts:
Chatsworth
DigitalAsset@chatsworthcommunications.com 

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SOURCE Digital Asset (US) Corp.

New video technology delivers real-time footage and alerts officers to critical events happening around them

LONDON, Oct. 2, 2024 /PRNewswire/ — Motorola Solutions (NYSE: MSI) today announced that Lancashire Police will deploy the M500 in-car video solution across its entire fleet of vehicles. The new video solution observes the vehicle’s environment from multiple viewpoints to provide officers with real-time awareness of their surroundings, whilst capturing video evidence that can provide accurate incident documentation to aid investigations. 

“Police officers face unpredictable challenges and fast-moving events every day,” said Chris Hardy, chief superintendent for Lancashire Police. “The ability to respond quickly is paramount. The Motorola Solutions M500 can live-stream video back to the control room, enabling our team to build a clear picture of unfolding events by giving us eyes on the scene. It is a highly configurable, easy-to-use system that can automate processes such as triggering video recording when the blue lights are activated, helping officers to focus on the job at hand.” 

Lancashire Police has made a number of recent investments in new technological and organizational capabilities. Since its establishment in June 2023, Lancashire Police’s Roads Crime Team and Roads Policing Unit, with support from wider police departments in the county, has been integral to efforts to locate and recover vehicles and assist with road traffic collisions. The deployment of the M500 in-car video solution will provide front-line officers with an additional tool to help fulfill its priority of making the roads safer for the community. 

The M500’s interface is designed to be intuitive for officers to operate in demanding situations. Video captured is automatically uploaded to the Motorola Solutions VideoManager for secure, auditable storage that is intelligently organized. Recorded footage is tracked and audited to protect the chain of custody so that the police, public and judicial systems can be confident in the integrity of video evidence. VideoManager’s consolidated incident overview also helps to ensure that incident information, including footage recorded by the M500, as well as Lancashire Police’s body cameras, can be easily viewed from one location. 

“Video security solutions are a vital tool for police officers as they work to help keep their communities safe,” said Fergus Mayne, U.K. and Ireland country manager, Motorola Solutions. “As part of the Motorola Solutions safety and security ecosystem, the M500 connects with Lancashire Police’s existing mission-critical technologies, providing productivity and agility to the forces operational response to help protect people, property and places.”

Motorola Solutions has been trusted by Lancashire Police throughout its digital transformation, supporting the force’s evidence capture, data storage and workflow efficiency. The M500 will complement the force’s existing technology infrastructure which includes Motorola Solutions’ Pronto Digital Policing application, TETRA radios and VB400 body cameras. 

About Motorola Solutions

Motorola Solutions is solving for safer. We build and connect technologies to help protect people, property and places. Our solutions enable the collaboration between public safety agencies and enterprises that’s critical for a proactive approach to safety and security. Learn more about how we’re solving for safer communities, safer schools, safer hospitals, safer businesses – safer everywhere – at www.motorolasolutions.com.

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RiskBlue introduces a transformative software solution to manage high-rise construction risks and streamline insurance processes.

LONDON, Oct. 2, 2024 /PRNewswire-PRWeb/ — RiskBlue, a new venture from RiskClock, announces the launch of its innovative contract management software, specifically designed to assist insurance brokers and developers in efficiently managing high-rise Builder’s Risk and Water Mitigation contracts. The platform aims to enhance water insurance risk control and management in the construction and operational property sectors.

Under the leadership of serial entrepreneur Diogo Beltran, RiskBlue delivers a user-friendly interface that offers the construction industry’s most reliable water risk controls, sourced from reputable providers. This ensures all parties involved in a project are aligned with the project’s controls and schedule, securing investments and enhancing management practices across the industry.

“Our goal at RiskBlue is to redefine the standard for risk management in construction and operational properties,” Diogo Beltran explained. “We are committed to bridging the gap between risk assessment and mitigation, providing a platform that ensures both are handled with the utmost efficiency and reliability.”

RiskBlue’s software facilitates streamlined underwriting processes for Builder’s Risk and Water Mitigation contracts by providing tools that help forecast, evaluate, and manage potential water-related hazards. This proactive approach aids in preventing delays and overruns, keeping projects within budget and on schedule.

“The construction sector often faces challenges with water-related risks that can derail projects. Our software provides a strategic advantage by integrating detailed risk evaluations and mitigation strategies into one central system,” added Beltran. “This allows stakeholders to maintain tight control over project timelines and budgets, significantly reducing the risk of costly setbacks.”

The platform not only serves as a critical tool for insurance brokers and developers but also fosters a collaborative environment by connecting them with leading solution providers. This collaboration ensures that all mitigation strategies are comprehensive and tailored to the specific needs of each project.

RiskBlue is now available for industry professionals who are looking to enhance their risk management capabilities and protect their construction and operational investments from water-related risks.

For additional details on how RiskBlue can transform your approach to managing construction risks and to schedule a demo, please visit https://www.riskblue.com.

About RiskClock

Established by Diogo Beltran, RiskClock is renowned for its innovation in construction technology, focusing on pioneering solutions that enhance the safety and efficiency of construction and operational projects. RiskClock continues to lead the way in developing cutting-edge technology solutions for the industry.

Media Contact

Diogo Beltran, RiskBlue, 888-888-8888, diogo.beltran@riskclock.com, https://www.riskblue.com/

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SOURCE RiskBlue