The infrastructure used in Project Rosalind is now available to all via software-as-a-service. Project Rosalind is the Bank of England and Bank for International Settlements’ retail CBDC project.
Quant partnered with digital transformation company, UST, on the project. Quant provided the underlying infrastructure and blockchain platform, secure smart contracts and interoperability of central bank ledgers. UST built the frontend Rosalind API layer.
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Specifically, Quant’s Overledger Platform is accessible to large enterprises, SMEs and developers for the first time.
According to Quant, Overledger Platform establishes a new benchmark for enterprise blockchain, universal interoperability and ease of use. It’s a low code SaaS that allows customers to issue digital money and interoperable assets with just a few clicks. It moves them from one blockchain network to another and writes new apps that will run on any network. In addition, it creates secure smart contracts that will execute on any blockchain. And it uses simple APIs to integrate with their existing systems. With Overledger, this can take a developer minutes, rather than a months-long project only deliverable by specialised blockchain experts.
Tokenised assets: $4trn business by 2030
The launch of Overledger Platform comes at a critical time for the financial services industry. Although the unregulated crypto experiment has failed, blockchain-based infrastructure and systems, regulated tokenised money and digital assets are still central to innovation. In tandem, it is expected that the value of tokenised assets will reach $4trn by 2030. However, businesses are scrambling to hire the right expertise or a plethora of developers to capitalise on the opportunity presented by this new technology.
Quant says that its platform solves this problem by allowing any business to access blockchain and unlock its benefits. As Quant continues to work on projects with financial institutions worldwide. Its platform is being updated regularly, ensuring that all Overledger customers, big or small, benefit from new innovations as they are developed.
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By GlobalDataA gamechanger for building a business in the blockchain economy
“From central banks to their commercial counterparts, from issuers to asset managers, the financial world is now wise to the transformational value of blockchain. Already used in some of the most demanding use cases, Overledger is the grown-up approach to implementing this technology. It is one that any developer or business can now use to expand their offering, getting to market at speed and with ease,” said Gilbert Verdian, founder and CEO. “We think this is a game-changer for anyone that wants to build a business in the blockchain economy.”
Martin Hargreaves, Chief Product Officer, added: “Until now, businesses have struggled to capitalise on the benefits provided by blockchain. It’s a complex technology requiring specialist skills. Overledger Platform changes all that. It’s simple to use and continually updated. It integrates seamlessly with your existing systems. That’s how it unlocks the power of blockchain for everyone.”
