 | This article contains content that is written like an advertisement .(February 2023) |
| Company type | |
|---|---|
| Industry | |
| Headquarters | New York City |
Key people | Greg Schvey, CEO |
| Website | axoni |
Axoni is an American technology company that develops blockchain software for financial institutions. It caters to trading firms, infrastructure providers, and technology companies in the United States, Europe, and Asia. [1] The company operates Veris, a distributed ledger system used by large financial companies. [2]
Axoni was established in 2013 to build and deploy institutional blockchain and distributed ledger technology similar to the one that powers bitcoin. [1]
This system was developed with other tech companies, namely, R3 and IBM. [3] The permissioned distributed ledger network for derivatives is governed by DTCC [3] and also uses Axcore. [4]
Axoni is also a partner of Options Clearing Corporation (OCC), one of the largest equity derivatives clearing organization. [5] This platform assists BATS, Cboe, Nasdaq, and the NYSE. [5]
In 2020, Axoni launched Veris, a distributed ledger network that manages equity swap transactions. [6] This system is designed for matching and reconciling post-trade data on stock swaps. [7] Companies using this network includes BlackRock Inc., Goldman Sachs Group Inc., and Citigroup, Inc. [7] [2] The infrastructure functions as an equity swaps platform, where participating institutions can maintain continual reconciliation of equity swaps until they reach maturity. [8]
Trading is synchronized for a transaction throughout its lifecycle, and participants can relay changes in real-time. [6] Its first recorded swap involved transactions by Citi and Goldman Sachs. [6] [9] It is also based on the Axcore technology, adding to a suite of enterprise software that provides data management, automation, and development kits (e.g., for distributed application). [10]
Blythe Sally Jess Masters is a British private equity executive and former financial services and fintech executive. She is a former executive at JPMorgan Chase, where she was widely credited for developing the credit default swap as a financial instrument.
Ethereum is a decentralized blockchain with smart contract functionality. Ether is the native cryptocurrency of the platform. Among cryptocurrencies, ether is second only to bitcoin in market capitalization. It is open-source software.
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A blockchain is a distributed ledger with growing lists of records (blocks) that are securely linked together via cryptographic hashes. Each block contains a cryptographic hash of the previous block, a timestamp, and transaction data. Since each block contains information about the previous block, they effectively form a chain, with each additional block linking to the ones before it. Consequently, blockchain transactions are irreversible in that, once they are recorded, the data in any given block cannot be altered retroactively without altering all subsequent blocks.
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Hyperledger is an umbrella project of open source blockchains and related tools that the Linux Foundation started in December 2015. IBM, Intel, and SAP Ariba have contributed to support the collaborative development of blockchain-based distributed ledgers. It was renamed the Hyperledger Foundation in October 2021.
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Consensys is a private blockchain software technology company founded by Joseph Lubin and based in Fort Worth.
A decentralised application is an application that can operate autonomously, typically through the use of smart contracts, that run on a decentralized computing, blockchain or other distributed ledger system. Like traditional applications, DApps provide some function or utility to its users. However, unlike traditional applications, DApps operate without human intervention and are not owned by any one entity, rather DApps distribute tokens that represent ownership. These tokens are distributed according to a programmed algorithm to the users of the system, diluting ownership and control of the DApp. Without any one entity controlling the system, the application is therefore decentralised.
A distributed ledger is a system whereby replicated, shared, and synchronized digital data is geographically spread (distributed) across many sites, countries, or institutions. In contrast to a centralized database, a distributed ledger does not require a central administrator, and consequently does not have a single (central) point-of-failure.
A smart bond is a specific type of an automated bond contract that uses the capabilities of blockchain databases that can operate as cryptographically-secure yet open and transparent general ledgers. This is sometimes referred to as Distributed Ledger Technology (DLT). It is one of a class of financial instruments known as a smart contract, "a computerized transaction protocol that executes the terms of a contract."
Ethereum Classic is a blockchain-based distributed computing platform that offers smart contract (scripting) functionality. It is open source and supports a modified version of Nakamoto consensus via transaction-based state transitions executed on a public Ethereum Virtual Machine (EVM).
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