ConsenSys expands partnership with Allfunds Blockchain

By Megha Bhattacharya

Blockchain technology provider Allfunds Blockchain and Ethereum software company – ConsenSys have signed a partnership for supporting the streamlining of the fund distribution value chain, and other regulated industries. The collaboration is expected to combine Allfunds’ Technical Solutions and ConsenSys Quorum to power the Allfunds Funds Industry Platform.

Ruben Nieto, Managing Director at Allfunds Blockchain, said, “We are thrilled to be partnering with ConsenSys to bring this revolutionary blockchain solution to the wider market. Through the expertise of ConsenSys, Allfunds Blockchain clients will benefit from a truly unique blockchain product. We selected ConsenSys Quorum to be our enterprise blockchain protocol because of its significant adoption in enterprise blockchain and the ongoing development and support ConsenSys provides. This is another important step forward in the evolution of Allfunds Blockchain technology.”

The company offers Technical Solution comprising Allfunds Privacy Plugin that adds capabilities on top of ConsenSys Quorum, solving major concerns about data governance in blockchain ecosystems. The company’s Business Solution comprises Allfunds Business Smart Contracts that enable fund distribution activities on the Allfunds Industry Platform, unlocking new capabilities through blockchain technology.

The solution includes advanced privacy features that enable participants in a blockchain network to control, at a granular level, who is allowed to see information, and what nodes participate in the consensus validation of data containing confidential information.

Madeline Murray, Product Lead at ConsenSys Quorum, stated, “We are seeing growing global interest in ConsenSys Quorum, the open-source Enterprise Ethereum protocol built to simplify the use of enterprise blockchain. This partnership with Allfunds will further facilitate global blockchain adoption for the funds industry and enrich the ecosystem with technical innovations suitable for advanced privacy use cases.”