SWIAT and NTT DATA partner on blockchain-based platform
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SWIAT and NTT DATA partner on blockchain-based platform 27 February 2024Germany Reporter: Carmella Haswell
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SWIAT has partnered with IT and business services provider NTT DATA to create an independent digital blockchain-based financial market platform for banks and financial institutions.
The Tokyo-headquartered firm will operate both validator and tenant nodes for SWIAT.
The validator node ensures that incoming blockchain function calls are validated and executed correctly according to predefined rules and protocols.
The tenant node enables financial institutions to access the infrastructure and manage private and trusted data, the firms say.
SWIAT is a fintech company specialising in the development of blockchain software for an open, decentralised financial market infrastructure. Its objective is to create a single global standard for the processing of blockchain-based securities.
By integrating validators into the blockchain, SWIAT says it is “continuously increasing the security and reliability” of its ecosystem, which specialises in regulated digital assets.
SWIAT now has a network of nine validators.
Commenting on the announcement, Timo Reinschmidt, co-CEO and chief commercial officer of SWIAT, says: “As part of the Japanese NTT Group, NTT DATA has a broad international presence and extensive expertise in digital business and IT services.
“With NTT DATA’s support, we will further increase the reliability and decentralisation of the SWIAT platform and make it as easy as possible for financial institutions to integrate digital asset issuance into their infrastructure.”
Oliver Köth, chief technology officer at NTT DATA DACH, adds: “Distributed ledger technologies, and blockchain technology in particular, can be a real game changer for digital assets. Not only does the chain store transaction data in a decentralised, transparent, cryptographic and irreversible manner, but it can also map the entire securities process from issuance to trading to settlement in a single day.
“Therefore, blockchain technology can become the driving force behind the economically sustainable business models of tomorrow.”
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