BRICS Solution Awards

A Blockchain-Based Tokenization Framework for Financial Institutions using Compliance by Design

Problem and implemented solution

I strongly believe that, in order to bridge the gap between blockchain technology and existing traditional financial systems, tokenization should be brought into the regulated financial world without immediate or significant regulatory adjustments. The financial industry is under pressure to modernize asset management systems while adhering to regulations, notably for regulated debt products like CCBs. Financial organizations exploring blockchain-based tokenization face many regulatory restrictions for these assets. Institutions want to integrate tokenization into the regulated financial ecosystem without urgently changing legislation to accommodate new technology. The solution was created with user experience in mind to help financial institution leaders and teams design and implement smart contracts for regulated assets. The system integrates complex regulatory criteria into smart contracts for various regulated instruments. The technology lets financial institution executives and their teams construct smart contracts for regulated financial assets using simple tools, like drag and drop building blocks. Tokenization is smoothly integrated into the financial system's regulatory framework with this technique.

Brazil
Nomination

Artificial Intelligence And Digital Services

Topic

Distributed registries

Estimated duration of implementation

6 months

Implementation geography

the implamentation in focused in Brazilian landscape

Description of competitive advantages

Unlike other tokenizing systems, the solution includes regulatory compliance right into the design of its smart contracts. This guarantees that every token created is compatible with relevant regulation, therefore greatly lowering legal risks. Furthermore, it is the only solution meant especially to handle the whole lifetime of tokens, from creation to continuous compliance maintenance, therefore ensuring that compliance is ingrained in every phase of the process. Combining this all-encompassing strategy with public network access allows financial institutions before unheard-of control over their tokenized assets.

List of awards and prizes, media articles about the organization/individual or the Practice

Awards and Achievements of Caroline Nunes: Received the "Woman in Web3 Award Top 3 2022"; "Dean's Academic Excellence Award" from the University of Southern California; Media Articles about Caroline Nunes and Her Companies: Article in the magazine Meio & Mensagem about Caroline Nunes; Column published on the Suno Notícias website; Interview with Caroline Nunes, on the CriptoPiratas podcast, discussing the technological and legal challenges of adopting NFT technology.

List of scientific works and IP connected with the Practice

Practical Blockchain-Based Financial Assets Tokenization Authors: Chaleenutthawut Yatipa, Vyacheslav Davydov, Aleksandr Kuzmin, Yury Yanovich Published: 2021, at the 4th International Conference on Blockchain Technology and Applications; A Technical Solution to Implement Financial Regulation into Secondary Markets of Tokenized Financial Assets Authors: Marcelo Salhab Brogliato, Bruno Ramos Campana, Yan Martins Published: 2023, presented at a workshop by Banco Central do Brasil; US20230179419A1; US20190303887A1; US20230219876A1; US20230012345A1

Contacts

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