KoreConX, a secure, all-in-one platform for private companies to manage their capital market activity and stakeholder communications, announced on Tuesday the launch of KoreNodes in twenty three countries and five major regions around the world. According to KoreConX, KoreNodes is for trusted and regulated stakeholders to validate and record digital securities transactions on the KoreChain, a permissioned blockchain built on Hyperledger Fabric.
According to KoreConX, each KoreNode maintains a copy of the distributed ledger of securities transactions. Access to data is available only to regulated entities and only to those transactions in which they are involved, either as parties or for governance. KoreNodes implement strict privacy rules. KoreNodes notably get first priority in connecting with issuers as well as enjoy special mention on all KoreConX websites.
“The KoreNodes will function as a mutually supportive and collaborative ecosystem, empowering individual participants without disintermediating them.”
While sharing more details about the KoreNode, Dr. Kiran Garimella, Chief Scientist and CTO of KoreConX, stated:
“An effort of this magnitude can only start with careful attention to the needs of the private capital markets ecosystem. This was possible due to the feedback and encouragement from our KorePartners, leading academics, and scientists. The business architecture drove all our technology decisions. This is very exciting for us and our KorePartners as we are poised to rapidly implement numerous other processes to fully achieve the vision of the Infrastructure of Trust.”
Jonathan Heyman, Director of Compliance at KoreConX, went on to add:
“I spent nearly a decade with a Canadian Securities Regulator, and in all my years then and even now, I have not seen any participant voluntarily giving regulators access to information in real-time, unless it is to meet a regulator’s mandate. This move with KoreNodes is ground breaking and is the reverse of what regulators around the world are accustomed to. In this new digital era, it’s necessary, and our strategy is to invite everyone to our Infrastructure of Trust, including the Securities Regulators.”