California-based blockchain start-up Manifold Technology has announced today the release of its Manifold Platform. The companyâ€™s patented distributed ledger platform is publicly available to provide a foundation on which anyone for anyone to build enterprise-ready, blockchain-enabled application.
The platform has already been used to transform the Royal Bank of Canadaâ€™s rewards program, as well as to enable member banks of the R3CEV consortium to demonstrate instantaneous trading of fixed income assets. Manifoldâ€™s platform is able to handle over 10,000 transactions per second in operational environments. Possible uses of the platform include creating an asset exchange, payments infrastructure, or any other type of asset management or settlement application.
Chris Finan, CEO and former White House cybersecurity advisor, said: “My cofounder Rob and I got excited about blockchain after playing around with Bitcoin. But, we knew the public blockchain didnâ€™t offer the speed or security that financial services firms needed. We are proud to release this platform so that more companies will be able to use blockchain technology at speeds that were unimaginable two years ago.”
The new platform links modern data storage with blockchain technology. Enterprise teams and developers can leverage the power of a blockchain without being exposed to its complexities, while preserving the scalability and analytical strengths of a distributed database. The platform is wholly owned and operated by the entity deploying it. The launch of this platform sees progress towards the companyâ€™s goal of bringing greater efficiency and accountability to modern finance.