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The Securitize Digital Value Compliance Platform has joined the IBM Blockchain Accelerator program, Forbes says on January 21st.
According to Forbes, Securitize CEO Carlos Domingo said his goal is to create a platform for debt issuance using blockchain technology. Domingo said:
"… we hope to modernize the $ 82 trillion business debt market – which is currently facing inefficiencies and high fees – with blockchain technology."
The accelerator will apparently last three months and will end with a presentation and demonstration of the Securitize platform. The program includes a workshop on blockchain architecture and consultations with IBM and external mentors. Domingo also said that the company was planning to integrate Hyperledger in order to design products and issue debt on a blockchain.
In November 2018, IBM and Columbia University announced the creation of two blockchain accelerator programs designed to help startups in the encryption space. The programs form the Columbia-IBM Center for Blockchain and Data Transparency, a joint innovation center created by the technology giant and the Ivy League School in the summer of 2018.
Blockchain technology has already been suggested as a means by which financial organizations could fight "bad debts". In his book Blockchain Revolution, 2016, Alex Tapscott pointed out that loan fraud is one of the main causes of "bad debt".
Tapscott suggested that in a future where all borrowers store their personal credentials in a decentralized database, loan fraud becomes a thing of the past.
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