Financial Institution Blockchain Solution From AlphaPoint

Last week AlphaPoint, a financial technology company that powers digital currency exchanges and provides institutions blockchain-enabled solutions to store, track, and trade digital assets, revealed a new product. StreamCore is a multi-asset blockchain solution for financial institutions to allow firms to interact with blockchain data, providing tools to develop and deploy a range of financial solutions.

Speaking on the benefits of blockchain, Joe Ventura, Founder and CEO of AlphaPoint, said that it was a step forwards in security and efficiency, with more and more banks recognizing the promise of technology and becoming strategic partners. SteamCore, he stated, provided the opportunity for these firms to have a secure, dynamic platform to engage with blockchain and integrate it into their business.

AlphaPoint’s current platform, used by over 20 clients, supports a range of applications, from asset exchange to multi-asset risk management, and SteamCore expands on this technology. The key benefits emphasized were the security and immutability of the data record, which could be linked across secure networks by multiple parties, along with the flexible permissioning; whereby individually encrypted messaged could be shared with specific people. SteamCore claims to utilize these benefits and act as a general-purpose platform for deploying blockchain-enabled financial applications.

The announcement was made as venture capital funding in blockchain technology reached over $462 million since the start of 2015, bringing the total since 2012 to almost $1 billion. Multinational banks were noted as being key investors, with more than 2o having made investments or formed partnerships, and more forming research groups.