Giving Money Identity and Purpose
To make money a programmable entity that supports Smart Services
Tokenized Deposits and the TRAX model
The advent of Distributed Ledger Technology (DLT) and other innovations has brought some novel concepts and digital asset management techniques to the fore. These can be leveraged to overlay some of the fiat money (Rupees) in circulation with Smart-features that allow for next-gen services, such as real-time fund trackability and control … and more.
Spoole System’s TRAX is a platform, that plugs into Core Banking Systems to allow participating Banks to provide end-to-end visibility (transparency) in the flow of Funds (Loans etc) across multiple accounts.
The platform and architecture that are based on DLT can be leveraged by Commercial Banks, Central Banks and the Government to introduce new-generation features at the Retail, Industry and Macro levels.
The TRAX technology stack also serves as a hook into neo-Banking, opening the door for Banks, Financial Institutions and Regulators to propose and offer complementary features and services (beyond fund tracking), on top of the conventional Core Banking Systems and offerings.
This can also be a reference model for the Government and Regulator to introduce CBDCs and Tokenized Deposits in to the economy, and usher in a transparency regime and smart services.