PeerNova Platform Tracking Capital Lineage with State Street

Silicon Valley-based PeerNova, Inc. announced that it is developing a program using its platform, Cuneiform, designed to enhance asset and transaction-based tracking for investments with State Street. Cuneiform is a Big Data platform that is designed to support the speed and scale required by large financial institutions to report on performance while incorporating the key characteristics of blockchain technology in keeping the data immutable, verifiable, and secure.

Using Cuneiform, the trial program will be designed to track the flow of funds with greater certainty, providing State Street with more transparent, timely and auditable reporting methods for clients. Custody banks like State Street manage trillions of dollars of invested capital on behalf of their clients, including asset managers, asset owners, insurers, official institutions, hedge funds and private equity funds and other alternatives.