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Global Debt Registry Completes Test Of Blockchain Proof Of Concept

By

Jeremy

Nation

WriterETHNews.com

Global Debt Registry’s proof of concept made use of blockchain technology, including Ethereum, to provide investors with a safe and secure way to validate loan information.

Loan validation company Global Debt Registry (GDR) announced on June 29, 2017, the completion of a trial of a secure permissioned blockchain proof of concept that will provide investors with an immutable audit trail. GDR intends to leverage blockchain technology to create a "single, consistent source of core loan data" that will allow investors to "more confidently manage underlying loan data," thereby ensuring the validity of loan portfolios.

Charlie Moore, President of GDR, expressed enthusiasm towards blockchain technology:

"We are excited to be driving the technological innovation of blockchain, bringing new value to the world of online lending. By harnessing blockchain capabilities and applying them to our collateral pledge management and asset validation tools, we are able to deliver new levels of confidence and certitude to our partners in the investor ecosystem."

GDR worked with three blockchain platforms, Hyperledger, Chain, and Ethereum. It has also worked on strategy development with the Wall Street Blockchain Alliance and Structured Finance Industry Group Blockchain Task Force. Recently, GDR also partnered with TransUnion, Equifax, IDAnalytics, Avant, and Prosper.

Chief Technology Officer at GDR, Robert Brown, relates how the firm sees blockchain technology as more than a fad.

"We see the real value of blockchain, and it’s much more than a buzzword or an industry trend. Blockchain technology is ideally suited to the set of solutions we offer clients – it enables our clients to have an immutable, consistent view of the state of a loan across its entire lifetime, thereby increasing trust and certainty around lending activity. As blockchain technology matures and standards are created, we look forward to playing a lead role to represent the investment community in this new asset class and enable future value creation through the use of smart contracts.”

By positioning itself at the forefront of the nascent blockchain technology movement, GDR stands to gain an edge by obtaining worthwhile experience adapting blockchain protocols to its business needs.

Jeremy Nation

Jeremy Nation is a writer living in Los Angeles with interests in technology, human rights, and cuisine. He is a full time staff writer for ETHNews and holds value in Ether.

ETHNews is commited to its Editorial Policy

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