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Blockchain startup LiquidShare has announced its partnership with ConsenSys’ PegaSys team for its blockchain-based post-trade settlement infrastructure.
Founded in 2017, LiquidShare is an independent startup launched by major European Institutions – BNP Paribas, CACEIS, Caisse des Dépôts, Euroclear, Euronext, S2iEM and Société Générale – with the objective of developing a European post-trading blockchain infrastructure for the Small and Medium Enterprises (SMEs) market.
The Paris-based startup has developed an Ethereum-based private and permissioned platform, with the business logic coded in smart contracts to model their cash, security, and delivery versus payment mechanisms. It will allow peer-to-peer to settlement between custodian nodes for listed and non-listed shares, removing friction costs and improving transparency for SMEs.
In collaboration with ConsenSys, LiquidShare successfully executed pilots with 15 financial institutions, including BNP Paribas and Société Générale as custodians, at the end of 2018.
PegaSys, on the other hand, is developing Pantheon – a Java-based enterprise version of the Ethereum client with greater transaction throughput, privacy, and specialized validation features that go beyond what the Ethereum 1.0 base layer can currently offer.
Through the partnership with PegaSys, LiquidShare aims to leverage Pantheon’s advanced enterprise features and enter its production phase by the end of this year. LiquidShare said that all of its services will be fully compatible with Ethereum.
“We are building the gold-standard for enterprise blockchain that can support multiple use cases in a private blockchain, and also have the possibility of leveraging the advantages of the public Ethereum blockchain. LiquidShare is one of the most advanced use cases in the financial industry, and we are excited to work with them on bringing production systems to market,” Daniel Heyman, PegaSys Program Director, said.
