According to Forbes, Securitize CEO Carlos Domingo explained that the company's aim is to create an debt issuance platform using blockchain technology. Domingo stated:
"we hope to modernize the 82 trillion dollar corporate debt market -- that is presently riddled with inefficiencies and large prices -- using blockchain technology."
The accelerator will purportedly endure three months and will finish with a demonstration and presentation of Securitize's platform. The program includes a blockchain architecture workshop and consultations with IBM and external mentors. Domingo also said that the company plans to integrate Hyperledger in order to design goods and issue debt on a blockchain.
At November 2018,'' IBM and Columbia University announced two blockchain accelerator programs that aim to assist startups in the crypto space. The applications form the Columbia-IBM Center for Blockchain and Data Transparency, a combined invention center that has been established from the technology giant and the ivy league college in the summer of 2018.
Blockchain technology has been previously proposed for a way by which financial organizations could battle"bad debt." In his 2016 publication Blockchain Revolution, Alex Tapscott observed that loan fraud is just one of the leading causes of"bad debt."
Tapscott suggested in a future in which borrowers keep their private ID's at a decentralized database, loan fraud will become a matter of past.