CommerceBlock is proud to announce the beginning of its fruitful partnership with CG Blockchain. As a part of this partnership, the blockchain platform will be working on the new FUNDStore project, providing an interface to what’s considered as the world’s most secure public blockchain network. By implementing its novel tools within the FUNDStore ecosystem for blockchain based software solutions for hedge funds and pension funds, CommerceBlock will empower the clients of CG Blockchain to interact and conduct business under strict privacy. These transactions in question can be conducted over various public blockchains.
The partnership can be considered as a significant milestone for both the parties and Bob Bonomo, the President of CG Blockchain has reiterated in a recent quote. He said,
“FUNDStore/CG Blockchain is excited to partner with CommerceBlock as it offers unique public blockchain tools for the $3 trillion hedge fund industry through its technical expertise around public blockchain infrastructure.”
The announcement also marks a twist in the narrative so far, where the mainstream financial platforms have been maintaining a safe distance form Bitcoin and public blockchain technologies. By creating a bridge between both sectors, CommerceBlock is opening a whole new avenue for the overall development of the global financial infrastructure. The partnership also coincides with new developments, being brought about by CME Group and its planned Bitcoin exchange-traded instruments.
ComplianceGuard offers pension fund investors the tools they need to make sure that hedge fund managers do not change transaction or data. CG Blockchain combines an unalterable blockchain transaction trail with ongoing compliance monitoring to decrease the risk of hedge fund fraud at the same time protect the reputation of pension fund managers. In the current world of high measures of scrutiny and regulations, pension fund investors need accurate transaction records that can be verified as well as the compliance data from the funds they invest in. The blockchain will permanently record hedge fund compliance on a distributed ledger.
FUNDStore enables users and pension fund providers to manage all stages of the transactions and interactions through the platform. It is designed in a way that all information, user funds, and user details are controlled by the client, meaning that at no point does CommerceBlock or CG Blockchain have access to this data. CG Blockchain partnering with CommerceBlock now seeks to increase hedge fund accountability and transparency of the transactions. It aims at delivering security to pension fund investors through the blockchain technology. This partnership will set the new standards for pension and hedge fund investment.