We are excited to announce a major upgrade to Dchain: Theodoric-II. This update evolves the network into a dynamic on-chain securitisation infrastructure.
Native Digital Securities Depository Utilities
The Depository Module provides features to enable qualified digital securities issuers (such as PlatformD) to complete the on-chain issuance and recording workflow:
- Issuer Management: Depository administrators can now onboard qualified issuers and monitor their compliance in real time using revocable verifiable credentials. This ensures that only authorised participants can issue securities on their depository.
- Digital Securities as Tokens: We now support native digital securities that represent fractional ownership of an underlying Global Note. They are also designed to be EVM-compatible.
- Programmable Compliance: We have built compliance directly into the network. Administrators and issuers can instantly pause or resume transfers for specific securities (by ISINs) to meet regulatory requirements at any moment.
- Full Lifecycle Automation: From the moment a security is issued to the day it matures and is "surrendered" (retired), every step is managed by the protocol logic, providing transparency and speed.
The Digital SPV: Connects offchain business activities onchain
To provide speed, auditability, and automation for the securitisation workflow onchain, PlatformD is deploying the Digital SPV Orchestrator smart contract. This acts as the onchain execution agent for essential functions: automating asset notarisation, cash-leg management, and the issuance and surrender of digital securities, while providing privacy-preserving, legally binding, and digitally verifiable data for full auditability.
- Programmatic Issuance: The orchestrator verifies origination data and triggers the creation of digital securities for distribution to investors.
- Real-Time "True Sale" Verification: As an asset is securitised, the system updates its status in real time. This provides an indisputable, legally binding record that a "True Sale" has occurred, protecting both issuers and investors.
- Streamlined Redemption: The system manages the re-collection and burning of digital security tokens during the redemption process, simplifying the settlement.
Looking Ahead
Theodoric-II is not just about new features; it is about building the technology that can disintermediate traditional institutions and automate compliance. By leveraging eIDAS 2.0 standard digital signatures, Self-Sovereign Identity (SSI), and privacy-preserving verifiable credentials, we are enabling a complete financial stack to directly connect businesses to investors.
This upgrade marks a significant step toward setting the new standard for credit transmission.
Onward.
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