• Days
  • Hours
  • Mins
  • Secs
  • Sat, 19 Oct 2019, 03:46 PM
  • All times are UTC
  • Edition:
Copy link
Increase text size
Decrease text size
Link copied

ConsenSys enters decentralized finance ecosystem with new product suite ‘Codefi’

Mon, 16 Sep 2019, 06:41 am UTC

Blockchain firm ConsenSys has announced the launch of a new product suite, called Codefi.

At a press conference at ConsenSys’ first international Ethereal Summit on Sunday, September 15, ConsenSys Founder Joseph Lubin said that his firm would enter the decentralized finance (DeFi) ecosystem with this new product suite, CoinDesk reported.

In a press release, ConsenSys defined Codefi as “a suite of tools and services that comprise an ‘operating system’ to help enterprises and consumers maximize the benefit from profound digital transformation in commerce and finance. Delivering Codefi provides the capability to digitize assets and financial instruments, including payments, equities, lending, and real estate.”

Speaking to CoinDesk, Lex Sokolin, co-head of global fintech at ConsenSys, explained that Codefi could be compared to Twilio or Stripe that cater to businesses that need to process payment data.

The Codefi product suite has four parts:

  • Assets: A platform to create, issue, and manage the lifecycle of digital assets, associated markets, and digital financial instruments on public or permissioned blockchain networks.
  • Payments: A platform to send, receive, and manage cryptocurrency payments and revenue within a single dashboard.
  • Networks: A suite of tools empowering anyone to utilize tokens and participate in decentralized networks.
  • Data: A data, analytics, and risk management engine for digital assets, public blockchain tokens, and their growing networks.

ConsenSys said that through these configurable, easy-to-integrate tools and modules, clients would be able to accelerate blockchain development. Codefi will also help them to cut down on infrastructure and operational costs by building and deploying shared data standards and common workflows.

Codefi is currently being developed under a “controlled release” with few pilots, CoinDesk reported.

Jeremy Milar, chief of staff at ConsenSys and founding board member of Ethereum Enterprise Alliance, told CoinDesk that the project aims to encourage ethereum adoption among businesses.

“The strategy here is to accelerate the growth of the DeFi ecosystem,” he said.

TokenPost | [email protected]

<Copyright © TokenPost. All Rights Reserved. >

To leave a comment, please sign in.
  • Bitcoin (BTC) $8,048.17 (+1.17%)
  • Ethereum (ETH) $174.75 (+0.92%)
  • XRP (XRP) $0.295000 (+1.61%)
  • Bitcoin Cash (BCH) $215.33 (+0.87%)
  • Litecoin (LTC) $54.00 (+1.01%)
  • Bitcoin (BTC) $8,048.17 (+1.17%)
Oct 18, 2019 (Friday)
Telegram’s claim “Grams will not be security once TON Blockchain launches” is insufficient, argues SEC
Crypto Technicals: Major Cryptocurrency Support Resistance Levels
Crypto Technicals: Major Cryptocurrency Daily Technical Outlook
US Senator comes out in support of Facebook’s crypto, finds hostility towards Libra “puzzling”
Crypto Technicals: BCH/USD tests trendline support (209), dip till 78.6% Fib (168.35) likely
IBM, Raw Seafoods partner to digitize scallops supply chain using blockchain
India’s Reliance Industries reveals blockchain plans for Bill of Lading and Letter of Credit transactions
Crypto Technicals: Ripple (XRP) erases most of previous session's gains, retrace below cloud dents further upside
Crypto exchange Upbit operator Dunamu to launch OTC trading platform for unlisted securities
Crypto Technicals: ETH/USD fails to extend recovery, resumes weakness, 167.50 (Oct 6 low) in sight
Stablecoin initiatives highlight shortcomings in cross-border payments: G7 Working Group
Crypto Technicals: LTC/USD extends choppy trade below 21-EMA, bias bearish
Crypto Technicals: BTC/USD confined to narrow range, bias bearish below 5-DMA (8132)
Telegram calls SEC’s emergency injunction “unreasonable”, argues gram tokens are not securities
Oct 17, 2019 (Thursday)
Bermuda to develop blockchain-based national ID system with Shyft and Perseid Network
Crypto Technicals: Major Cryptocurrency Support Resistance Levels
Crypto Technicals: Major Cryptocurrency Daily Technical Outlook
Samsung SDS partners with Tech Mahindra and Pega to launch blockchain-based traceability solution
Telegram proposes to postpone TON blockchain project launch to April 2020, seeks investors’ consent
Crypto Technicals: TRON (TRX) resumes weakness, break below 20-DMA could see fresh multi-month lows
Subscribe to the TokenPost newsletter!
Don't show me this again today.
Back to top
Copyright ⓒ TokenPost. All Rights Reserved.