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Grep Digital showcasing Innovations at 15th Aegis Graham Bell Awards


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Published on May 03, 2024
Grep Digital developed blockchain solutions enhancing transparency and security for complex financial transactions. Ranjit Sankarasubramanian presented on behalf of Grep Digital At Grep Digital we have developed a blockchain-based platform that stands at the forefront of less intermediation & more velocity of AIF transactions. The platform is engineered to address the complexities of digital first distributed financial transactions covering all areas of an offer negotiation and settlement cycle. This includes tokenization of assets on offer to sell the usage of digital currency to complete the sale and the locking of the transactions via a smart contract with an intermediary as the legal witness. The platform revolutionizes the traditional capitalization table by digitizing it into an online cap table enhancing transparency and accessibility for all stakeholders. We then employ smart contracts to automate and secure transactions between equity providers and buyers ensuring that terms are executed precisely as agreed upon. A key feature of the platform is the incorporation of a trustee role (like NSE/CDSL etc.) serving as a trusted intermediary to authorize and settle transactions. This not only adds a layer of trust but also streamlines the process making it more efficient.  This role is in addition to the Investor Role and the Company or Startup role seeking funds. To guarantee 3-way transparency (immutability and redundancy) our platform utilizes R3 Corda technology as the optimal distributed ledger technology foundation for the platform due to its robustness in handling complex inter-organizational workflows. This distributed ledger approach not only secures transaction records against tampering but also ensures continuous operation without a single point of failure. To enable seamless transfer of assets (money and ownership) we use stable coins or digital coins (or any other digital currency backed by fiat currency). These are stored in a digital wallet that is KYC verified and is used for all transactions. The ownership of assets and its transfer is stored in the form of smart contracts. Finally we give a seamless and intuitive user experience making the platform accessible to a broad audience without compromising on the sophistication of the underlying technology. Watch this space: www.bellaward.com
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