Securitize, a compliance company focused on the management of digitized securities on the blockchain, has joined the IBM Blockchain Accelerator program, Forbes reports.
The program is designed for advanced growth companies looking to further explore the blockchain network while receiving technical and business support from the IBM staff.
Ten selected companies will also attend the Blockchain Architecture workshop organized by the IBM team during the three-month-long program.
Securitize’s co-founder and CEO, Carlos Domingo, revealed the exciting news while adding that the goal of his company is to “build the world’s first debt issuance platform with blockchain technology in 2019.”
Domingo is the former CEO of Telefonica’s research and development (R&D) division.
After the completion of the program, Securitize will prepare a presentation of their work, including more information about their products.
“With the aid of IBM, we hope to modernize the $82 trillion dollars corporate debt market – which is currently riddled with inefficiencies and high fees – with blockchain technology,” added Domingo.
Notably, the company is looking to “integrate Hyperledger into the product design of their platform in order to ensure debt issuance on the blockchain,” Forbes reports.
Hyperledger, hosted by Linux Foundation and supported by IBM, Intel, and SAP, is an umbrella project which includes numerous initiatives and projects of open-source blockchains and related tools.
“Integrating blockchain technology into the whole corporate debt process will help enable greater transparency, audibility, efficiency, and eliminate intermediaries that don’t need to be there,” concludes Domingo.
A couple of months ago, it was revealed that Coinbase participated in the Series A funding series of Securitize. Other notable companies, such as Blockchain Capital, Global Brain, and Xpring Fund, took part in the $12.75 million funding series alongside Coinbase.
Another blockchain platform, IPwe, has also announced its selection to attend the IBM Blockchain Accelerator program. IPwe is a blockchain-based platform working in the patent ecosystem business.
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