ConsenSys Labs invested in the Swiss FinTech Start-up Atpar. The company developed the ACTUS Protocol that promises interoperability of financial services in the banking sector. ConsenSys promotes projects that support financial applications in the Ethereum Ecosystem.
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Atpar receives from the Software company ConsenSys financial support for the development of an infrastructure for interoperable financial systems. The company developed the ACTUS-Protocol to establish a Standard for creation of the interbank financial assets in Ethereum. This is from a press release, the BTC-ECHO is present.
With the ACTUS Protocol to manage the issue and Tokenization of financial instruments to economically and technologically interoperable way. Joseph Lubin, the founder of ConsenSys and co-founder of Ethereum, announced:
Together, the ACTUS Technical Specification and the ACTUS Financial Protocol have the potential to be the HTML and HTTP of the financial level of the decentralized World Wide Web, so that companies can overcome the inefficiencies of our current financial system, companies and markets to be limited to proprietary silo systems. In the future, the ACTUS Protocol aims to define every financial contract in the world, with carefully defined Inputs, Outputs and Algorithms for the codification of the value streams, based each in a block chain, binding the Smart Agreement are summarized.
According to the press release, financial assets represent values of the Central Element of any financial services. Therefore, the transparent and interoperable representation of these assets on Ethereum was “a Central promise of an open financial system”.
The ACTUS-Protocol
The ACTUS Protocol is an Open-Source network for the Emission of financial instruments. The Smart-Contract-part of the ACTUS Protocol represents the financial assets Ethereum as modular building blocks. Thus, all financial settled instruments are, of mortgages and bonds to derivatives.
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In addition, the ACTUS Protocol service aspects treated values, such as the detection of state changes, as well as the fragmentation and bundling of assets. In addition, the Protocol represents the distribution of funds, and simplifies the analysis of assets. The infrastructure of Atpar offers financial institutions the ability to operate financial systems efficiently and to maintain.
Michael Svoboda, CEO of Atpar, said:
intermodal containers have revolutionized the shipping industry, Atpar want to mimic this efficiency benefits for the financial industry. The ACTUS Protocol provides the infrastructure to describe all of the major financial systems with a single, machine-readable “shipping documents”. It will allow financial institutions to lower the production costs by automating the management and reporting of financial assets over the entire life cycle of Zero.
Atpar was founded in 2019 and developed the ACTUS Protocol, to enable the tokenization of cash flows on Ethereum. Classic financial services can be switched to an open and interoperable infrastructure.
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