On Oct. 22, Chainling announced the results of its industry-wide corporate actions initiative involving major financial players such as Euroclear, Swift, UBS, Franklin Templeton, and Sygnum Bank. Blockchain ecosystem partners included Avalanche, ZKsync, and Hyperledger Besu networks.
Corporate actions are significant events or changes related to securities, such as stocks and bonds, that affect investors. However, automating and standardizing this data could help significantly reduce operational inefficiencies due to errors and manual data processing. It created “unified golden records,” which were verifiable, persistent, and had updatable data containers alongside a two-level consensus system to verify data accuracy.
“With proper implementation, co-creation allows AI and DLT to amplify each other’s strengths, creating golden records accessible to all in real-time and paving the way for transformative solutions,” commented Stéphanie Lheureux, Director of Digital Assets Competence Center at Euroclear.