Ready Layer 1: A General-Purpose State Machine* for the Financial Sector

In traditional finance, regulated financial firms and Financial Market Infrastructures (FMIs) use secure electronic messaging systems to exchange structured data. Coordination of financial transactions between firms is conducted through the messaging paradigm in which institution updates its own books and records based on messages from clients and counterparties. The development of blockchain technology presents the financial industry with an alternative paradigm based on ‘tokenization’. Read the full article here.

* The term state machine is a concept used in designing computer programs or digital logic. A state machine is any device storing the status of something at a given time. (Techopedia)