AlphaPoint, a blockchain solution and digital asset exchange software, has announced the completion of a successful proof of technology with Canada’s Scotiabank by leveraging AlphaPoint Distributed Ledger Platform (ADLP).

During the technology trials, Scotiabank explored and assessed how to leverage the use cases of ADLP, internally. ADLP not only allows companies to digitize financial instruments and services on its distributed ledger but also quickly create trading venues for those blockchain assets. It also helps in managing pre-trade and post-trade workflows with that of the existing systems, the official post stated.

“Distributed Ledger Technology enables institutions to rethink how data flows within their organizations,” Joe Ventura, Founder & CEO of AlphaPoint, stated. “Partnering with Scotiabank is an amazing experience - their team is leading the charge by proving out pragmatic, near-term implementations of this revolutionary technology.”

AlphaPoint’s full-stack platform includes notable features such as high throughput that involves thousands of events per second and sub-second confirmation times, user-level access controls, integrated communication with legacy systems, among others.

Trade reports were submitted to a deployment of the ADLP, as a part of the multi-month project. These reports ran simultaneously on Microsoft’s Azure cloud and AlphaPoint hardware. The blockchain network created an immutable ‘single truth’ across the entire network by converting FIXML messages to smart contracts, in real-time.