Boston-based smart contracts platform Adjoint Inc. has won in the ‘Most Investable Startup’ category at the Ernst & Young Startup Blockchain Challenge Showcase (EYSC) event that was held in London last week.
The company was one among the six startups selected for the challenge including BitFury, BlockVerify, BTL Group LTD, JAAK and Tallysticks. Over the six months challenge, Adjoint’s team worked with EY’s mentors and their clients to create a blockchain solution for Over-The-Counter (OTC) contracts for energy trading clearing and settlement, the release stated.
“It is a tremendous honor to win this award as it validates our value proposition and the market opportunity. Our team worked diligently to come up with a solution that addresses the challenges of implementing smart contracts for institutional financial applications. Receiving this award acknowledges our approach to making smart contracts secure and easy-to-use and will help the industry move beyond the proof-of-concept stage. The EY team was excellent in helping us accelerate our growth and we are also grateful for the support and feedback that we received from the EY client mentors and Level39 mentors,” Havell Rodrigues, CEO and co-founder of Adjoint said.
Adjoint showcased their Smart Contract solution for OTC bilateral trades with a live demonstration of their interface at the EYSC Showcase Day event. It set up an OTC Swing Swap contract between two parties on a private blockchain. This live demonstration highlighted the use of Adjoint’s platform for using composable smart contract templates that ensures these contracts are verified and can interface with standard legal documentation.
The award was voted by the audience that consisted of senior management teams from energy trading and digital rights management firms, senior EY and fintech industry professionals.
