Kx technology integrated into innovative blockchain trade processing platform

By James Corcoran

Blockchain, the technology underpinning cryptocurrencies, has widespread applications both within the financial industry and more broadly in other sectors.  Kx technology is known for extremely fast processing of large volumes of real-time data, and has been widely adopted by financial services institutions to get an edge when it comes to analytics and data-driven insights.

Whilst promising, early implementations of blockchain have had performance challenges when attempting to scale for high volumes of real-time transaction data.  The combination of Kx and blockchain technology presents a new way to process huge amounts of streaming data whilst storing the data in a secure distributed ledger.

Cobalt DL, a fintech company that provides post-trade processing services for the evolving FX market, is looking to disrupt the FX industry with a new platform that is built for efficiency and cost effectiveness. To do this, Cobalt has developed Babylon – a blockchain-inspired high performance private network as a distributed ledger. Babylon improves on the public blockchain by providing very high performance and security with a focus on ensuring the immutability of data sets.

Kx is used by Cobalt as the fast data processing and calculation engine in their platform.  Kx is also used to generate cryptographic signatures of data records as they enter the system, and natively integrates with the distributed ledger in order to guarantee that data cannot be tampered with.  Kx and Babylon share many common design principles, from high performance engineering to distributed processing and append-only data structures.

For an in-depth look at the Cobalt platform, and the role Kx is playing in blockchain and distributed ledger technology, please read our white paper.