ConsenSys’ Ethereum Total Return Swap (eTRS or CryptoSwap) serves as a proof of concept for financial counterparties to learn about what can be accomplished with smart contracts and Ethereum. It combines have combined several of ConsenSys’ core components and decentralized applications, such as our uPort Wallet, digital identity, persona and reputation system, Balanc3 triple entry accounting, EtherSign electronic signing with cryptographic authentication and smart document management, as well as Ether.Camp’s oracle pricing service. All this is built and run with the help of BlockApps’ full stack development environment STRATO. Some of the financial counterparty benefits derived from the eTRS are credit risk reduction from real time collateral rebalancing based on price and creditworthiness fluctuations, cost and risk savings from T + 0 trade and settlement, regulatory adherence to uncleared swap rules, audit transparency and automation of special contract terms. Even though the eTRS depicts a swap transaction, it can easily translate to any credit risk transaction involving collateral and even more generally to automate business processes into smart contracts internally and within a consortium.

Source: Consensys

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