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Decentralized Digital Depository

researchhub - December 24, 2018 - 0 comments

Decentralized Digital Depository is a global safekeeping service for crypto assets in distributed post-trade infrastructure. The project has been done by D3ledger under the partnership with Lykke.

D3ledger provides secure decentralized storage and settlements using Hyperledger Iroha blockchain platform built by Soramitsu and open-source community. Hyperledger Iroha allows asset tokenization based on distributed ledger technology, providing a high level of trust and security. D3 network is based upon proof-of-stake consensus which allows D3ledger to process more than 2 000 000 safekeeping and settlement operations per day.

Decentralization gives several benefits for crypto investors and financial intermediaries:

  • Sufficient level of regulatory transparency
  • Virtually no risk of infrastructure downtime
  • Easy re-landings of account to a new jurisdiction
  • Safe ownership through identification of each owner via the network of nodes. Ownership records are safe even the in case of default/bankruptcy of one of the partners
  • Easy governance of the network through the steering committee and voting procedure.

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