Kaleido

The financial services industry is constantly seeking ways to enhance digital ecosystems and leverage new technologies for a competitive edge. Blockchain technology has shown promise, but the path from discovery to implementation is often unclear. The challenge lies in finding practical uses for the technology and the right go-to-market approach. A significant proof-point of blockchain’s viability for trade finance is komgo, a blockchain-based commodity trade and finance network. However, the challenge for blockchain networks is the protection of private information on the ledger. As networks scale, they need mechanisms that allow for larger sets of blockchain validators. Business consortia also need the ability to govern the digital smart contracts where the business logic is executed.

The Institutes RiskStream Collaborative®, the largest enterprise-level blockchain consortium in the risk management and insurance industry, identified a significant challenge in the surety industry. The industry is characterized by multi-party data verifications and exchanges between the principal, obligee, and surety, which often leads to inefficiencies and complexities. The Surety Bonds Power of Attorney use case was identified as a starting point to address these issues. However, the process of enabling real-time bond signature and verification, which is crucial to the overall solution, was fraught with difficulties, including high costs, time consumption, and risk.

The fantasy gaming industry, a multi-billion dollar market, is dominated by a few large companies such as ESPN, Yahoo, FanDuel, and DraftKings. These platforms allow fans to select players, form teams, join leagues, and compete against other users. However, the value generated by these games largely remains with these big companies, with users and athletes having limited opportunities to monetize their participation. Furthermore, users have no real impact on the performance of their roster. This situation presented an opportunity for innovation and disruption, which is what Cydisys aimed to achieve when they partnered with Kaleido to create AnteFame, a blockchain-backed play-to-earn game centered around Formula 1.