Posted on: Friday 19th of October 2012
Our work for Innotribe, the innovation initiative of SWIFT (the global financial messaging service) is coming to fruition and we are delighted it will soon be made public. Over the last six months we have been part of an international team of experts working on an R&D project backed by the SWIFT Innotribe Incubation fund to develop a ‘Digital Asset Grid’.
The Digital Asset Grid is a new infrastructure for banks to provide a platform for secure peer to peer data sharing between trusted people, businesses, and devices. It’s a revolutionary idea and potentially game changing for the banking sector enabling them to become leaders in the digital economy. We will be presenting the results of our research into the value and business proposition for the DAG, at Sibos on October 31. The research involved most of the world’s leading banks.
The DAG provides a solution to today’s information logistics challenge. Whilst data is increasingly abundant, how do you get the right information to and from the right people at the right time so they can solve problems, make decisions, organise and implement things without wasting time and effort looking for the right data or sifting through and discarding the wrong data? The DAG overcomes this operational and design conundrum by doing for data what SWIFT has already done for payments: provide a new, scalable, global network – one that operates parallel to SWIFT’s existing financial infrastructure – for “digital data banking” i.e. trusted transactions of any digital asset between any two parties on the network.
We can’t say too much more now but we believe the DAG, plus the other information logistics platforms being developed across the world, are the key building blocks of our economy’s next big productivity breakthrough. We will be publishing a report ‘Information Logistics: Key to Digital Value Creation’, which gives our view on the significant innovation and economic opportunity, on October 31. On that date we will also be publishing our Sibos presentations and the top line findings from our DAG research.
Our presentation at Sibos is on Wednesday October 31 from 4pm – 5:30pm in Conference Room 3 in case you, or anyone you know, might be attending the conference, and please get in touch. Here is a full overview of Innotribe@Sibos.