4 min read
The company allfunds blockchain is a commitment to blockchain technology that comes from Allfunds, the wealthtech and provider of fund distribution worldwide.
As the firm has explained, Allfunds Blockchain will introduce blockchain technology in a market that has not yet made much inroads in this area. In addition, in a few weeks, the company will announce strategic agreements with large fund managers, distributors and market players.
After years of studying the different blockchain technologies that exist, Allfunds has decided to promote its own blockchain technology and has therefore created Allfunds Blockchain.
The company has developed a technology that generates a unique environment of security, privacy and data governance among financial institutions, which enables new capabilities to program and automate processes through intelligent contracts.
What is the purpose of Allfunds Blockchain?
This new arm of the company will be focused on developing both a technical and a business solution. Both solutions will be totally independent from each other.
The technical solutions area will provide unique capabilities to the Ethereum technology, solving the main concerns related to data management in blockchain ecosystems. In this way we will try to create value solutions to companies in a secure way.
In the area of business solutions, it will be Allfunds Business Smart Contracts that will promote fund distribution activities, unlocking new capabilities that this technology allows.
Allfunds is confident that the technology created by the company will be able to establish itself in the financial sector and create a new standard in the blockchain solutions ecosystem. For this reason, it is currently analyzing several projects with leading companies to discover new possibilities.
The team’s visión
Commenting on this new development, Allfunds CEO Juan Alcaraz said, “blockchain technology is known for offering greater transparency, increased security, better traceability, greater efficiency and speed of transactions. By developing and patenting our own blockchain technology we will bring innovative features and benefits to the market for the wealthtech industry. We know the great potential of this technology.
Allfunds Blockchain will be led by Ruben Nieto who will take on the role of Managing Director. Ruben has previously held the position of Director of Innovation at Allfunds and has worked more than 15 years in IT for the company.
If you still don’t know what Allfunds is, I can tell you that it is a company that was founded 20 years ago and has become a leading wealthtech fund distributor worldwide. Among its services it offers data and analytics, trading and execution, portfolio and monitoring tools, as well as regulatory solutions.
It has also developed Allfunds Connect; an ecosystem that helps digitally connect fund managers with distributors.
Allfunds currently has more than one billion euros in assets under management and offers more than 100,000 funds from over 2,000 fund managers in various countries. It also has agreements with more than 2,000 institutions, including major commercial banks, private banks, fund managers, brokers, etc.
If you want to keep reading news about crypto in the business world, follow us on our Twitter profile where we publish daily news and new articles of interest.