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Qredo's unique innovation is the implementation of multi-party computation (MPC) on a Layer 2 network.
In this trustless MPC implementation, the multiple parties involved in the computation are coordinated using blockchain consensus, and digital asset ownership is tracked over the linked Layer 2 blockchain.
This enables the instant, secure transfer of digital assets between counterparties.
From the private key controlling the digital assets, Qredo's MPC protocol generates multiple independent secrets which are then distributed between MPC Nodes on a fast-finality blockchain.
Each MPC node is housed in a security-hardened tier 4 data center. These data centers are distributed across financial hubs around the world, from London to Chicago and Hong Kong.
When an asset owner wants to sign a transaction or generate a public key to make a deposit, they coordinate with their appointed custodians via the Qredo network to confirm the asset ownership on the blockchain, creating a consensus that enables the asset owner to invoke the MPC Nodes to run the MPC protocol from their Qredo wallet.
This protocol then generates a public address for digital assets to be deposited, or a digital signature for the underlying blockchain to send or receive digital ass...
In an interview with Miko Matsumura on his podcast—MikoBits, Qredo’s Chief Product Officer Biran Spector discussed the problem of custody institutional investors face. The two dove deep into both the technology that underpins secure custody and the concrete products that it can provide.
Miko Matsumura, the host of the MikoBits YouTube channel, is a general partner with Gumi Ventures, a U.S.-based $30 million venture capital fund focused on early-stage blockchain startups.
Brian Spector is the chief product and strategy officer at Qredo. Spector co-founded security infrastructure company Apache Milagro and computer and network security company MIRACL (formerly CertiVox). His previous experience includes working at RSA, nChipher, and McAfee.
This is part 2 of the blog series covering What Layer 2 Networks can do for Institutional Digital Asset Management. Read Part 1 here.
Long before electronic trading platforms existed, armies of back-office clerks would shuffle paper stock certificates around offices as investors bought and sold. This not only curtailed trading volume, but led to million-dollar mistakes from simple administrative errors.
Eventually, through dematerialization, shares transformed from paper certificates held in vaults to digital shares. This took the paperwork out of the picture and boosted efficiency. But—more often than not—electronic stocks were held under the name of the brokerage in what is known as street name securities registration.
Under this form of indirect ownership, asset owners lose direct property rights and must rely on the stockbroker to pass on benefits like asset yields and business updates. More dangerously, many financial firms now also use client assets as collateral in what is known as rehypothecation. This practi...
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