ConsenSys announces Codefi, the blockchain operating system for commerce and finance

0
52


Press Release

Tel Aviv, Israel – September 15, 2019: Today, ConsenSys unveiled ConsenSys Codefi, an “operating system” comprised of tools and services to help anyone— from financial institutions and large enterprises, to entrepreneurs, developers, and decentralized networks— benefit from the digital transformation of the infrastructure, manufacturing, and distribution value chains in commerce and finance. Built on Ethereum, Codefi provides the ability to digitize business processes, payments, and assets such as equities, loans, and real estate. 

To reflect the complexity and global scale of the business, Codefi will be jointly led by London-based Lex Sokolin and New York-based Pat Perarducci as Global Fintech Co-Heads. In his inaugural Ethereal Summit keynote in Tel Aviv, Lex Sokolin introduced ConsenSys Codefi as a multifaceted solution with the potential to unlock value across a wide range of industries, enabling clients to: 

  • Incorporate blockchain-native authenticity, scarcity, and programmability into workflows and assets, enabling governance, compliance, and system incentives through secure APIs and scalable, customizable software
  • Activate digital financial instruments to create and grow markets with potential for greater liquidity, reduced costs of capital, access to a broader investor and capital base, and improved incentive alignment between stakeholders
  • Leverage the pioneering innovation of the Ethereum ecosystem to create compliant, production-ready blockchain solutions for use-cases across commercial and financial sectors

As one of the earliest companies to architect production-ready blockchain solutions, ConsenSys has tokenized billions of dollars in digital assets, including a wide range of consumer products, currencies, real estate, and financial instruments, and has created software and infrastructure that has enabled tens of billions of dollars in blockchain-based transactions. ConsenSys has worked with governments, major enterprises, startups, and developers to digitize business processes and stores of value, thereby codifying their real-world attributes and enabling fractional ownership, expanded product lines, and new incentive models in business networks. 

“By leveraging Ethereum technology to digitize business processes and assets, we have, repeatedly, delivered real-life solutions that are so much better — more compliant, reliable, and cost-effective — that it is clear this is the future of commerce and finance,” says Patrick Berarducci, ConsenSys’ Global Fintech Co-Head. “But to do it correctly, and future proof it, you really need to optimize everything from business processes to compliance, infrastructure and protocol layers. That’s really hard, and that’s why we’re rolling out Codefi. To make it easier for everyone, and to ultimately accelerate the future of decentralized commerce and finance.”

Lex Sokolin added, “Over the last decade, innovations in Fintech and the digital transformation of the financial industry has led to broader access to financial products. This is an empowering trend— more people and organizations can pay, save, borrow, and invest in an affordable way. With the global adoption of Ethereum as the programmable blockchain of choice, we see a massive opportunity to help clients benefit from next-generation financial infrastructure, using Codefi to lower the cost of manufacturing financial products and deploying them at scale.” 

Codefi has been in development in stealth since early 2019 and is comprised of a number of new and existing teams building Fintech solutions under a unified Finance and Commerce business vertical with ConsenSys. 

Codefi will include the following modules: 

ConsenSys Codefi

The blockchain operating system for commerce and finance, built to optimize business processes
and digitize assets and financial instruments

Codefi Assets

A platform to create, issue, and manage the lifecycle of digital assets, associated markets, and digital financial instruments on public or permissioned blockchain networks

Codefi Payments

A platform to send, receive, and manage cryptocurrency payments and revenue within a single dashboard

Codefi Networks

A suite of tools empowering anyone to utilize tokens and participate in decentralized networks

Codefi Data

A data, analytics, and risk management engine for digital assets, public blockchain tokens, and their growing networks

In the weeks to come, Codefi will unveil more details on individual tools and services with client stories and key industry partnerships. 

For more information, please visit Codefi.Consensys.net.  

About ConsenSys:

ConsenSys is a blockchain company dedicated to transforming the world’s digital architecture toward a more open, inclusive, and secure internet of value, commonly called Web3. With a more trustworthy internet architecture, ConsenSys is helping enterprises and governments unlock new business models and value, gain efficiencies through a shared IT infrastructure, and utilize modern cryptographic methods to safeguard private user data. Through our unique global business comprised of a startup incubator, Enterprise Ethereum ​consulting arm, and ​investment fund​, ConsenSys is building for the decentralized future. Fore more information, please visit ​www.consensys.net​.

 

 

Be the first to know about our price analysis, crypto news and trading tips: Follow us on Telegram or subscribe to our weekly newsletter.





Source link