Ethereum focused company, ConsenSys, announced the launch of CodeFi in a bid to strengthen the development tools for commercially viable decentralized finance and business platforms. According to the website, the goal of this platform is to create the operating system to create digital infrastructure in a trustless manner, September 16, 2019.
Taking DeFi Corporate
CodeFi is targeted at an entirely new demographic of users: financial institutions and large enterprises. Business processes and commerce can be digitized and made more efficient through CodeFi.
The implications of digitizing equity, debt, real estate, and other assets are wide-spanning. As more and more countries focus on building a digital economy, enterprises will be required to lead the rest of the region in making the jump.
Four distinct areas ofare strengthened by CodeFi: assets, payments, networks, and data.
With digital asset management, investors can manage their entire portfolio and streamline functions like governance and portfolio management. At the same time, it helps those looking to issue tokens to do so in a compliant and trustless manner.
The network and data functions go hand in hand. For example, a company can create new financial instruments by utilizing robust data from various financial metrics and blockchain analytics.
Payments allow forof cryptocurrencies, along with management of functions such as recurring income, method of payments, and search functions.
Enterprise Adoption of Trustless Finance
ConsenSys seems to be taking all of the newest developments on Ethereum andthem together to create corporate facing solutions.
Whether this is effective or not is relatively unknown, but most large enterprises who have used Ethereum end up running their own in house versions.
However, looking a the sheer size and diversity of ConsenSys helps us understand that this is no dud company. With 11 global offices and an estimated $52 million in revenue, ConsenSys certainly has adoption for its products.
With a burn rate of $100 million per year, nearly double their revenue, it is uncertain whether their business model is viable. The company is led by, one of the founders of Ethereum, and is one of the top private companies nurturing growth on Ethereum.
Sourced from crypto.news.
Written by Ashwath Balakrishnan on 2019-09-17 12:15:17.