by Joseph Young
Blythe Masters, “the most powerful woman on Wall Street” is currently in talks with the biggest banks in the U.S. to raise US$25 million in the first round of funding for Digital Asset Holdings, a blockchain-based asset settlement technologies provider.
Digital Asset Holdings, the winner of DEMOvation Challenge of Bank Innovation 2015 and semi-finalist of Swift Innotribe Challenge 2015, utilizes the blockchain technology to eliminate millions of dollars in costs at banks through fully automated, real-time asset settlement and processing of transactions.
Recently, Digital Asset Holdings partnered with bitcoin hardware wallet manufacturer Case Inc. to implement their biometric and multi-signature security systems to issue crypto-security for Pivit, an interactive marketplace that uses public opinion, news and other data to produce odds on global event outcomes in a variety of categories including sports, finance and politics.
The implementation of Case’s biometric security system allows Digital Asset Holdings to create new methods of crypto-security and asset distribution and settlement.
The Digital Asset Holdings team has also acquired San Francisco-based Hyperledger, a technology firm that has developed an innovative distributed ledger to enable individuals, companies and financial organizations to settle and clear transactions in real time.
“Hyperledger’s technology enables financial institutions to create multiple private blockchains across a known group of participants. Unlike other distributed ledgers, Hyperledger does not have an inbuilt crypto-currency and uses a proven consensus algorithm capable of thousands of transactions per second,” explained Masters in a press release.
“Hyperledger and Bits of Proof add valuable new dimensions to our product offering and great talent to our team,” she added. “We build tools to help clients harness the power of distributed ledgers to serve their own customers. We integrate financial infrastructure with a variety of innovative new technologies inspired by the blockchain. Different ledger technologies serve different purposes and all of those we integrate with are additive.”
With the development of Hyperledger and the partnership with Case Inc., Digital Asset Holdings plans to work closely with pre-IPO companies or startups to offer corporate shares in the form of crypto-security or “smart contracts,” on the blockchain or on their Hyperledger.