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Swift to unveil Digital Asset Grid prototype

29 October 2012  |  6746 views  |  0 Sibos  2012 SNOW COVERED PAGODA

Swift's Innotribe incubator has developed a working prototype of the Digital Asset Grid, a new infrastructure for banks to provide a platform for secure peer-to-peer data sharing.

The solution aims to ensure trust, reputation and secure sharing of digital assets - structured or unstructured data carrying value in the eyes of their owner. The prototype will be unveiled at Sibos, Osaka on Wednesday 31 October, 4pm in conference room 3. The business proposition has been formulated in close collaboration with banks including Citibank, HSBC, Royal Bank of Scotland, Deutsche Bank, Erste Group, Société Générale, BNP Paribas Fortis and Crédit Agricole Cards & Payments.

Representatives from the four applications running on the Digital Asset Grid and some of the world leaders on privacy and digital footprint, including Julius O. Akinyemi, MIT and Mark Dowds, Founder, Trov, will bring in-depth conversation and engage in an interactive discussion with the audience. 

The developers hope the Data Asset Grid will act as a map that describes the location of the data, the trust framework under which access to the data is available, the digital identities who have access to the framework(s), and the access and usage rights these identities have under those digital framework(s). In addition, the Digital Asset Grid will provide space for third party providers to add applications enabling the monetisation of digital assets.

Kosta Peric, Head of Innovation at SWIFT and Co-Founder of Innotribe, says: "The Digital Asset Grid will provide ground-breaking opportunities for both customers and banks. The aim of showcasing the research project at Sibos will help to generate support from the banking industry and develop the initiative further."

Watch Peter Vander Auwera of Innotribe explain the development and business case for the Digital Asset Grid here.

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