Distributed Ledger Technology: Use cases and implementation approach via smart contracts
Distributed Ledger Technology (DLT) has gone through several disruptions. If you are unfamiliar with DLT, you may have heard of blockchain, its most widely known derivate. Amongst the touted benefits are transactions trustfulness, process automation, and decision power disintermediation. It is no wonder that recent market and institutional initiatives seek to leverage this technology via smart contract proof of concepts.
In this article, we introduce our approach towards smart contracts implementation, which is underpinned by our partnership with technology firm Digital Asset. We also explore some use cases of DLT, and how it can impact your strategy.
Benefits of DLT for Capital Markets
In a nutshell, DLT establishes and maintains a single version of truth that is shared amongst participants. It enhances the capital market efficiency by reducing the number and complexity of reconciliations, manual interventions, and data processing steps.
Bringing to life the benefits of DLT
How do smart contracts work?
DLT allows for the automatic enforcement of pre-programmed rules, or contracts, when pre-defined conditions occur. This results in risk reduction, cost savings and enhanced efficiencies.
The recommended implementation approach
An end-to-end approach is recommended to help your organisation select, design, and run smart contracts. This can be done on one of the several business-as-usual (BAU) processes within the organisation.
Where do you implement DLT: A selection of use cases
Smart contracts can be set up for quite a variety of businesses, and along the full trade lifecycle.
Bringing to life the benefits of DLT
Synpulse x Digital Asset: Our partnership
The partnership across Digital Asset, Synpulse and Synpulse8 underpins end-to-end tokenisation projects and proofs of concepts.
Through our extensive project experience and strategic partnerships with DLT players, Synpulse and Synpulse8 have developed an overall understanding and insight on DLT matters. Our experienced and Daml language-certified business consultants, testers, and software engineers have built in-depth understanding of, and experience with, DLT to support your DLT transformation journey – from roadmap planning through to implementation scaling and training.
Synpulse offers differentiated services around DLT in the following areas:
- DLT candidates review: Select use cases for smart contract POC depending on the complexity and expected benefits
- Network design: Define the type of blockchain the smart contract is set up on and participants to the platform
- End-to-end product lifecyle management: Propose a comprehensive setup team from Synpulse and Synpulse8 to run in both project management, business analysis, coding, testing and BAU run
Bringing to life the benefits of DLT
