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Innotribe unveils the Digital Asset Grid at Sibos, Osaka

Innotribe proposes a new infrastructure for banks to provide a platform for secure peer to peer data sharing

Osaka, Japan, 29 October 2012 – Innotribe, SWIFT’s initiative to enable collaborative innovation in financial services, unveils the Digital Asset Grid incubator project at Sibos Osaka.

The internet has produced a plethora of data and with it, a new set of complex challenges.  Who controls it? Who can share it? Who should earn value from it? How can this value be unlocked for the good of the world economy?

The Digital Asset Grid provides the technology infrastructure required to ensure trust, reputation and secure sharing of digital assets – structured or unstructured data carrying value in the eyes of their owner.

This infrastructure will empower people and businesses to control their digital assets. It will act as a map that describes the location of the data, the trust framework under which access to the data is available, the digital identities who have access to the framework(s), and the access and usage rights these identities have under those digital framework(s). In addition, the Digital Asset Grid will provide space for third party providers to add applications enabling the monetization of digital assets.

The Digital Asset Grid positions banks for the digital age by providing a new infrastructure for the secure efficient use, sharing and trading of digital data in which the banks play the same key role as in today’s global banking network. It positions banks as the ‘platform’ on which they and others can build apps and create value for their customers.

Kosta Peric, Head of Innovation at SWIFT and Co-Founder of Innotribe, says: “The Digital Asset Grid will provide ground-breaking opportunities for both customers and banks. The aim of showcasing the research project at Sibos will help to generate support from the banking industry and develop the initiative further.”

A working prototype of the Digital Asset Grid has been developed and will be unveiled at Sibos, Osaka on Wednesday 31 October, 4pm in conference room 3. The Business proposition has been formulated in close collaboration with the SWIFT Banking Community including Citibank, HSBC, Royal Bank of Scotland, Deutsche Bank, Erste Group, Société Générale, BNP Paribas Fortis and Crédit Agricole Cards & Payments.

Representatives from the four applications running on the Digital Asset Grid and some of the world leaders on privacy and digital footprint, including Julius O. Akinyemi, MIT and Mark Dowds, Founder, Trov, will bring in-depth conversation and engage in an interactive discussion with the audience.

Innotribe are facilitating a number of streams at Sibos, designed to explore the latest developments and innovations in the industry. For further information on ‘Innotribe@Sibos’ please visit:

http://www.sibos.com/conferencedata/pages/stream_innotribe.page?navtab=tab2 

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