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SETL Prepares to Start Production of DLT-based IZNES Platform Next Year

by on September 15, 2017
 

There are several dozen blockchain experiments all over the world. Nearly all of these trials focus on the financial sector in one way or another. IZNES is a rather interesting project, as it is designed to become a pan-European fund recordkeeping platform. Although this project has been around for some time, we never had a launch date. For now, the goal is to enter production at some point in 2018. An intriguing development that can help put blockchain technology on the global map.

It is not the first time we hear about IZNES. The project has been around for quite some time now. An initial version was presented in July of this year. Providing investors and asset management firms with a DLT-based solution for fund recordkeeping is a bold undertaking. The project is supported by SETL and four French fund managers. Its main focus lies on straightforward access to fund units, KYC, subscriptions, and transaction settlement.

IZNES is Entering Production Soon

Thanks to the helping hand of other interested parties, the platform will enter production soon. A tentative date has been mentioned, although we only know it will be in 2018. An enriched version of this platform will be developed, although most specifics are kept under wraps for the time being. It is good to see blockchain technology make a positive impact in this regard. Whether or not the project will be a success, remains unknown at this point.

OFI AM CEO Jean-Pierre Grimaud comments:

“OFI Asset Management wanted to be actively involved in this market project, which offers asset management firms new distribution solutions in the interest of investors thanks to blockchain technology.”

SETL is a well-known name in the world of blockchain and DLT. The company always aimed to upend post-trade processes through a permissioned distributed ledger framework. So far, it seems this effort is finally being turned into a viable product waiting to be used. Europe is a key area for the company, which explains the collaboration with these four French companies. It will be interesting to see how IZNES will play out in the end. A very intriguing concept with a lot of potential, that much is evident.

Header image courtesy of Shutterstock

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