Dot-to-dot tokenisation
CertiQi operates under the strapline “Join the dots”, and it’s a decent description of what we set out to do. The aim has always been to break down silos so that all the components of a process can work in harmony. It’s a big ask, and we wouldn’t claim to be anywhere near that goal, but every step is progress…
We’re working with one of the global financial giants on a major project that will change the way that cross-border payments happen. It will take us a significant step closer to the whole-business concept by joining every element of a transaction, from the goods being purchased, through supply chain finance and through to due diligence FX and real-time or near-real-time settlement. Much has been discussed about digitalisation of assets, and an element of the new structure is that such digitalisation is baked-in. The transfer of value is inseparably attached to the reciprocal transfer of ownership of the asset. As a result, the asset being transferred effectively becomes its own currency - a stablecoin that operates independently of CBDC, USDT or USDC. We’re still getting our heads around the full implications of what we’ve built, but so far the possibilities are staggering.
The value transfer needs a form of smart contract. In its most basic form this can be simply proof of contract completion against proof of payment, but opportunities exist to make the asset itself fungible, taking us on a fast-track to to full tokenisation. As we’ve worked through the concept it’s become apparent that it’s an extension of our existing eKeyiD system, providing interacting and nesting objects for every element of the contract, all handled via our patented federated ledger technology for indubitable immutability.
It’s still early days for this new phase of development for eKeyiD, but an initial internal proof of concept has demonstrated that it’s a valid and feasible path to progress. As we do so, we want to work with standards bodies, such as those responsible for ISO20022 and the ACTUS definitions. We’re eager to hear from such bodies and invite you to make contact to map out the way forward.