- Ondo Finance will launch his own layer 1 blockchain.
- The ONDO channel, intended for traditional financial institutions, will present a list of validators only an invitation.
- “As an institution, you can really execute a knot without ever having to touch the crypto,” said an Ondo leader.
Ondo Finance, one of the biggest American Treasury Treasury bond issues, will launch its own blockchain in order to attract Wall Street investors to Crypto.
The blockchain, nicknamed the Ondo channel, was developed with the contribution of some of the world’s largest financial institutions, a day conference in a theater overlooks the Columbus Circle in Manhattan on Thursday.
With the Ondo channel, Ondo Finance tries to create a “hybrid” platform “combining the opening of public blockchains with compliance and safety characteristics of authorized channels,” said Bode during the conference, assisted by DL News.
Crypto -cooker financial institutions, suspicious of public blockchains that can be accessible by anyone in the world – including North Korean pirates – has created their own blockchains, these experiences have been largely failures.
To tackle the fear of Wall Street to run after the regulators, the validators of the Ondo channel will only be invited.
“This means that known and reputed – and often regulated – institutions will be authorized to manage a validator,” said Bode.
“It also means that when you as an investor come on, you can be assured that your transactions will not be in advance, and you can take advantage of similar protections as you do in traditional finance.”
Validators are the distributed computers network that checks blockchain transactions. On public blockchains such as Ethereum, anyone can execute a validator if he has the required equipment and meet other minimum requirements.
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But the Ondo channel will also connect to public blockchains, said Bode, who compared it to a “distribution center”.
True to the accent placed by Ondo on so -called real assets – tokenized shares, bonds and raw materials such as gold – Undo chain users will be able to put RWA and use them to pay the costs transaction.
“The network will be proof of evidence, but propelled by active active world,” said Bode.
“As an institution, you can participate and manage a node only with the assets that you already hold on your balance sheet,” he continued. “It also means that you, as an institution, can really execute a knot without ever having to touch the crypto. I am sure that it will make some people in your service of compliance and accounting extraordinarily happy. »»
The Ondo token, Ondo, dropped 6% on the news on Thursday at $ 1.29.
Aleks Gilbert is DL News“DEFI correspondent based in New York. You can contact him at Aleks@dlnews.com.
