What is Provenance Blockchain?
Provenance Blockchain is a distributed, Proof-of-Stake Blockchain designed for the Financial Service Industry to decentralize and streamline financial markets, replacing trust in intermediaries with verifiable truth on the blockchain.
Introduction to Provenance Blockchain
Provenance Blockchain provides a platform for transforming fundamental inefficiencies in financial markets. It began with a focus on improving loan origination, servicing, and securitization and has since expanded its vision to support a wider range of financial assets and markets. The evolution to Provenance Blockchain incorporates lessons from early implementations to enhance the platform's capabilities. Unlike many projects that brand themselves as RWA blockchains but create synthetic or wrapped assets, Provenance Blockchain is designed to handle real assets directly on-chain.
Truth over Trust
The traditional financial system relies on trusting numerous intermediaries to validate transactions and ownership. On-chain truth replaces reliance on third-party trust with the verifiable integrity of the blockchain itself. Participants can independently verify the status and integrity of assets and transactions directly. This is achieved through two core blockchain principles:
- Distributed: Information is maintained across many independent nodes, which eliminates single points of failure and provides strong defense against hackers.
- Immutable: Once a transaction is confirmed by the network, it cannot be altered. This creates a permanent, tamper-proof record and establishes a clear provenance for every asset and action on the blockchain.
What are Provenance Blockchain's Core Functions?
Provenance Blockchain integrates three essential financial functions into a single platform, eliminating the inefficiencies that arise from using separate systems. This integration reduces errors, increases speed, and can lower costs by over 100bps.
- Ledger: The blockchain acts as a complete and immutable ledger for all financial transactions. This provides real-time visibility and reduces or eliminates the need for reconciliation.
- Registry: Asset ownership is determined directly on the blockchain, unifying the acts of recording and conveyance. This process eliminates latency and allows for same-day (T+0) pledging and sales of assets.
- Exchange: The platform facilitates transparent price discovery, removing the need for market-making intermediaries. Assets can be tokenized, enabling fractional sales and creating liquidity in asset classes that were previously illiquid.