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Designer of the world's first ILS blockchain transaction to speak at the Financial Centres Summit, Dublin, October 2017 Back
Cedric Edmonds, director of Solidum Re, whose idea it was to use a blockchain and who was key in the design and the implementation of the ILSBlockchain and surrounding structural mechanics, says an alternative to Euroclear was required as it was becoming increasingly difficult to access Euroclear efficiently for smaller private placement note issues.
Dom Re IC Limited, a Guernsey-domiciled ILS reinsurance transformer and incorporated cell of Solidum Re (Guernsey) ICC limited issued the first notes to have been digitised on a private blockchain, in August 2017, which they have coined 'ILSBlockchain'. Cedric Edmonds, director of Solidum Re, whose idea it was to use a blockchain and who was key in the design and the implementation of the ILSBlockchain and surrounding structural mechanics, says that Dom Re required an alternative to Euroclear as it was becoming increasingly difficult to access Euroclear efficiently for smaller private placement note issues. 'It was a case of necessity being the mother of invention!' said Edmonds, who will speak at the Financial Centres Summit, Dublin, October 2017. Financial Centres Summit, Dublin, October 2017
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