According to Forbes, Securitize, a compliance platform for digitising securities on the blockchain is one of 10 companies joining the IBM Accelerator programme.
Carlos Domingo, co-founder and CEO of Securitize, said that its “goal is to build the world’s first debt issuance platform with blockchain technology in 2019.” He further explained the company’s position, saying, “With the aid of IBM, we hope to modernize the $82 trillion dollar corporate debt market — which is currently riddled with inefficiencies and high fees — with blockchain technology.”
The IBM Accelerator programme will last three months and participants will take part in a Blockchain Architecture workshop. They will also have the opportunity to work alongside the IBM and a number of mentors outside of IBM.
On completing the programme, Securitize will have to present its platform and explain to the IBM team what they hope to achieve for Securitize customers. Domingo also mentioned that they plan to integrate Hyperledger into the platform, which will enable the company to provide a debt issuance service.
Blockchain technology has been previously suggested as a means by which financial organisations could combat “bad debt.” As Alex Tapscott wrote in is 2016 book “Blockchain Revolution”, loan fraud is one of the leading causes of “bad debt.” He also claimed that if in the future, all borrowers stored their personal IDs on the blockchain, then “loan fraud” could be eradicated.