Wins “Best Distributed-Ledger Technology Project” Category at Waters Technology’s Buy-Side Technology Awards for Second Consecutive Year


Symbiont, a pioneer in the use of smart contract technology for
institutional financial markets, has been awarded the 2017 Buy-Side
Award for Best Distributed-Ledger Technology Project by
Waters Technology. Last year, Symbiont also won the inaugural award in
this category.

Judges included five buy-side focused technology consultants and four Buy-Side
journalists, and they used an auditable and transparent
methodology to recognize leading technologies and vendors in award

“Thank you to the judges for recognizing that Symbiont’s platform adds
value to the buy-side specifically, since it is a founding principle of
Symbiont to partner with the buy-side to upgrade settlement processes in
capital markets via blockchain and smart contracts,” said Mark Smith,
CEO & co-founder of Symbiont
. “Symbiont’s platform is especially
fair to the buy-side because it is truly decentralized, which means all
network nodes are equal and no nodes have any advantages over others.
Because there are no gatekeepers in Symbiont networks, the balance of
power is fair to everyone and we appreciate the buy-side recognizing the
value of this.”

“We are honored that the buy-side has recognized us in this way,” said Caitlin
Long, Chairman and President of Symbiont
. “We believe the
buy-side—particularly the long-only buy-side—is the biggest beneficiary
of blockchain technology because it cuts costs, latency, capital
requirements and counterparty risk, and these are costs that the
buy-side is increasingly shouldering today.”

Over the past year, Symbiont has provided the technology behind several
major blockchain projects. Publicly-disclosed major projects include the
19-party pilot for syndicated loans (via Synaps, its joint venture with
Ipreo) and the Delaware Blockchain Initiative.

About Symbiont

Symbiont is the market-leading smart contracts platform for
institutional applications of blockchain technology. Disclosed users of
its platform include nineteen financial institutions for Smart Loans™,
arranged by Credit Suisse and executed via Synaps, its syndicated loans
joint venture with Ipreo; the State of Delaware for Smart Records™; a
major European insurance company for Smart Swaps™ in the catastrophe
insurance market; Orebits, a provider of asset digitization services;, an alternative assets platform; and Medici Ventures, a
blockchain-focused venture firm.

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