TapestryX, a layer one blockchain solution, has achieved the prestigious distinction of being rated as a Trusted Blockchain Solution for the Banking, Financial Services, and other industries. The rating was conducted by the Government Blockchain Association (GBA) using the highly regarded Blockchain Maturity Model (BMM) and the Banking & Financial Services Supplement. A team of esteemed industry experts, including current and former government Chief Information Officers, technology specialists, legal and regulatory professionals, as well as banking experts, undertook the comprehensive assessment. Spanning multiple days, the review meticulously scrutinized 11 elements of the BMM and 22 additional requirements of the banking and finance supplement of the solution to evaluate its suitability for the rigorous demands of the banking and financial services sector.
During the intensive BMM assessment, TapestryX demonstrated its suitability for the banking and financial services industry by:
- Validating, settling, and reconciling high-volume transactions in real-time. And,
- Integrating accounting principles into a layer one blockchain that can be configured to comply with Generally Accepted Accounting Principles (GAAP) and International Financial Reporting Standards (IFRS).
Gerard Dache, the Executive Director of the Government Blockchain Association, remarked, “Of all the blockchain solutions we have evaluated, TapestryX is the only layer one solution that meets the high-frequency transaction demands, requirements for future-dated transactions, and all the accounting requirements of the banking and financial services industry.”
TapestryX will be formally and publicly recognized as a Trusted Blockchain Solution at the Blockchain & Infrastructure Conference in Washington, DC on September 28-29, 2023.
For more information about TapestryX, please visit the official website at https://tapestryx.com or get in touch with Paul F. Dowding, Head of Design at L4S Corp., the company behind TapestryX at https://www.linkedin.com/in/paulfdowding
- Contact: Steve Henley, BMM Program Manager
- Email: email@example.com