Security Token Platform Securitize Joins IBM Blockchain Accelerator Program

Securitize is looking to tokenize the $82 trillion corporate debt market as a participant in IBM’s Blockchain Accelerator program.

Securitize, a blockchain-oriented startup that helps clients tokenize real-world assets, has joined the IBM Blockchain Accelerator program to provide a more modern solution for debt structures, the US tech giant said in a blog post on Monday.

Securitize is one of ten ventures to partner with the program. CEO Carlos Domingo told Forbes  his company aims to offer “the world's first debt issuance platform with blockchain technology in 2019."

“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,” Domingo was quoted as saying.

Securitize will employ its own Digital Securities (DS) Protocol to automate the collection of corporate debt and make the entire process more efficient by removing complicated debt waterfall structures. The concept “just makes sense” because “smart contracts are built to do just this,” Domingo added.

According to Securitize’s website, several security token projects have already adopted the company’s DS Protocol, including Blockchain Capital, SPiCE VC, Aspencoin, and Science Blockchain.

Among the startups selected by IBM to join its Blockchain Accelerator program are marketing analytics company Lucidity, international B2B marketplace TigerTrade, mobile enterprise cloud platform Phunware, food supply chain solutions provider Connecting Food, universal wallet and smart data marketplace MetaMe, and digital credential service Credly. According to David Post, blockchain ventures managing director at IBM, the participants have been selected because of their “promising use cases and dedication to building scalable blockchain networks that have the power to transform existing business processes.”

The IBM Blockchain Accelerator program was announced in November 2018 as a joint effort between IBM and New York-based Columbia University. The initiative aims to find and support innovative blockchain-powered projects, whose scaling capabilities will be tested over the course of the three-month program. The accelerators will provide access to workshops, student talent pools, and the IBM-Columbia University technical base, as well as business, academic, and technical mentors to the participating companies.

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