Today it was announced that ConsenSys has landed a deal with Allfunds, the fund distribution platform with more than $1.5 trillion in assets under administration. In September last year, the funds company unveiled a new blockchain subsidiary.
We believe the Allfunds solution is not yet in production (awaiting confirmation) and already uses a permissioned version of Ethereum. Going forward, ConsenSys will help implement the solution on ConsenSys Quorum, the open-source version of Ethereum initiated by JP Morgan and now managed by ConsenSys. Allfunds developed a proprietary Privacy Plugin, and it’s unclear whether this will be needed when Quorum is used.
“We selected ConsenSys Quorum to be our enterprise blockchain protocol because of its significant adoption in enterprise blockchain and the ongoing development and support ConsenSys provides,” said Ruben Nieto, Managing Director at Allfunds Blockchain.
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