Industry Article
How Baton’s Tech Delivers Fast & Accurate Transactions
Mohammad Abidi gives an overview of the exciting technology that powers Baton’s services.
Watch 'Discover The Platform' with Mohammad Abidi
Mohammad sets out the three main components of Baton’s system:
- Clearing and settlement gateway
- Permission ledger
- Workflow
The platform, he explains, works on native assets by connecting to the ledgers of financial institutions via the clearing and settlement gateway. The key advantage from this is that Baton’s system does not require conversion to any digital token or cryptocurrency.
A trade, Mohammad explains, goes through a set of states from initialisation to completion. All states are immutably saved into the permission ledger.
“Baton’s system does not require conversion to any digital token or cryptocurrency.”
– Mohammad Abidi
The workflow itself can be divided into public and private steps. The public steps are shared between the two parties to a transaction, whereas the private steps, such as a required approval or a particular threshold, are peculiar to one participant.
Another of the Baton platform’s features which Mohammad describes is the ability to aggregate incoming trades. These are then assessed by a rule engine which can define thresholds or time-of-day events and workflows activated. The activation step is a set of workflows which execute across nodes, helping to settle assets or payments.
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