Improving the investment process
Provenance allows fund managers and investors to share a distributed ledger, registry and exchange. This model simplifies and facilitates the investment process. Shared ledgers provide a more convenient experience during investor onboarding.
Significant cost savings
The Provenance blockchain delivers significant cost savings by reducing staff and third party costs associated with traditional securities transactions.
Unique tokenization model
Provenance is in many ways different from other tokenization systems. First, the platform supports actual ownership of the asset, rather than a secondary “wrapper” that provides fractional ownership. In addition, those assets that are created on the Provenance blockchain are native to the platform.
Incorporation of all the advantages of blockchain technology
Since the Provenance platform is publicly available, but uses different levels of permitted access, it incorporates all the benefits of blockchain technology.
Transactions are validated by 12 banks. This allows for two-way, risk-free and immediate digital asset trading. In addition, this protocol allows Provenance to enter the financial sector through banks that serve as fiat bridges.
Professional financial services
Provenance developers provide investment managers with a reliable system that is easy to monitor. Thanks to this, the platform can improve the use of working capital. In addition, it significantly reduces the overall costs of fund managers and improves the investor experience.
The platform includes an original system known as the investor passport. AML/KYC data is securely stored on the blockchain. This model allows you to speed up the process of attracting new investors.
Access to an advanced registrar
Provenance users have access to an advanced registrar. This feature allows you to more efficiently manage the entire lifecycle of a digital asset. It provides important data such as subscriptions, redemptions, cap tables, and investor communications.
On May 19, 2021, the Provenance Blockchain Foundation announced the launch of a new public, decentralized, open source, permissionless blockchain targeting the financial services industry. This new blockchain has replaced the Provenance permissioned blockchain launched in 2018.
The new blockchain built using Cosmos SDK/Tendermint reduces the need for intermediation, thereby diminishing costs and freeing up capital in financial transactions. It also provides greater transparency and liquidity and opens up new types of business opportunities and financial engineering. Provenance decentralized ecosystem allows for a more effective validator/staking framework, including for market pricing and real-time settlement. Hash, the token native to Provenance, serves as the means of payment for transactions as well as a method of governance.
Provenance also builds on the developed ecosystem of the original blockchain launched in 2018. It is expected that many funds, fintech companies, payment providers, securities exchanges and financial institutions will actively participate in the project. The Provenance Blockchain development will be supported by grants in order to accelerate growth of the new ecosystem.
These types of blockchains are available to everyone, but no one can copy or modify the transaction that is taking place.