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PAR: Hedge Fund ‘Crypto-Bridge’ Platform to Apply for BitLicense

Blockchain

The PAR Project (par.io) a Productive Asset Record system, has released its white paper today revealing the launch of its new platform. PAR is a management application for the administration of capital pools through blockchain technology.    

Also read: Hedge Fund Expert: Bitfinex Hack Shouldn’t Deter Big Investors

PAR Releases White Paper

The PAR Foundation was founded in 2016 by Brian Kelly, Jacob Dienelt, Michael Sofaer, and George Samman. The focus of PAR is development of the world’s first transparent administration and audit application for lending and hedge funds, using blockchain technology behind the scenes. Its system has foundations in both public and private ledger technology.

The protocol will enable intelligent lending and hedge fund management using the Ripple Interledger, partnered with the Tendermint consensus mechanism. The network will provide leverage for cross-chain swapping and use Nautiluscoin (NAUT) as the native currency.

Users within the PAR network will receive discounted rates when utilizing Nautiluscoin with the application. PAR has similarities to the BlackRock Aladdin Platform but differs in various ways while acting more like a crypto-bridge.

The white paper explains:   

By allowing capital pool directors to create rule sets that govern capital flow, investment return allocation, and fee collection, the system provides flexibility and automation of capital flow. […] An essential goal of this project is not only to create a crypto...
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