London - Calastone, the funds transaction network, has announced that the technology underpinning the core of Calastone's global transaction network will be migrated onto a full blockchain-enabled infrastructure in 2019
In June, Calastone completed the first phase of its blockchain-enabled distributed market infrastructure (DMI) proof-of-concept (PoC), which saw Calastone test and verify the feasibility of using the technology to create a marketplace for the trading and settlement of mutual funds.
The company said that 2019 will see the technology underpinning the core of its network moving to a private and permissioned based blockchain infrastructure.
Ken Tregidgo, deputy CEO, Calastone said: "The funds industry is subject to increasing cost pressures, whilst investors continue to demand increasing returns and regulatory transparency. The initial shift we're making towards blockchain marks the first major step to addressing these issues offering significant potential for the entire industry."