As a part of our blockchain in credit markets seminar, Chain-Finance got an opportunity to ask Nick Williamson from Credits Visions about the startup’s proprietary blockchain technology.
How would you describe your blockchain technology?
We provide a built-from-scratch framework for creating purpose-specific, interoperable blockchains.
Based on JVM technology, we aim to provide the ability to use existing programming languages, tooling, and workflows to create arbitrary functionality and services that clear counterparty interactions via a distributed set of validators, with the counterparties interacting directly, rather than explicitly requiring a centralized clearing service to enable those interactions.
Is your technology currently being used for bonds or other credit-based instruments (including derivatives)?
Not in production, but we’re exploring derivatives.
If so, can you provide a few more details?
We’re mostly at the prototyping and architectural planning stages for those two use cases specifically. We’ll likely be doing a good deal with partners and clients this year to take our findings from the work we’ve done in clearing and settlement during 2015 and extend that to credit instruments and derivatives.
What is the advantage of using your technology rather than creating a bond in a more traditional form? Can you compare how your system might be an improvement on the technology that already exists in debt markets?
You can start to delineate a more clear separation of concerns between both market participants, service providers, and infrastructure maintainers and providers, not only at the organizational level (as we already currently have), but directly modeled in the IT systems that underpin these functions.
Overall, it can represent a much more direct representation of the relationships being enabled by these systems.
What challenges do you think a financial services partner might face adopting your technology to issue or manage credit instruments and how can they address those challenges?
More or less the same problems faced in any major IT rollout in Financial Services. Finding greenfield use cases that don’t necessarily cannibalize or replace existing systems may be the least friction-filled path forward.
Please provide details about your team and how people can contact you.
We’re available at firstname.lastname@example.org, and we have full team bios on www.credits.vision.