Well done Axoni! Very exciting news for Tradeblock's subsidiary, Axoni, who successfully completed a test for the replication of a credit default swaps trading process through use of their distributed ledger technology. This test, which was carried out with a total of 7 wall street firms, is another giant step in the implementation of the blockchain within financial institutions. Regulators will now have the ability to view "real time" trade details, which takes compliance and transaction efficiency to a whole new level.
“Our experiments with Axoni demonstrate that confidentiality and privacy can be preserved between bilateral parties on an immutable distributed ledger at scale," said Emmanuel Aidoo, who is in charge of the blockchain and distributed ledgers at Credit Suisse, in a statement. Over the course of the months-long project, the group said it built its network using Axoni-hosted software that was installed locally.