Objective Over-The-Counter (OTC) trading is trading done directly between two parties, without supervision of an exchange. Traders in OTC markets face several types of counterparty risk (Default, Replacement, Settlement and Liquidity). The technology developed by the PI's ERC-funded research will be applied to solve two basic problems: How to preserve the privacy and anonymity of traders involved in decentralized OTC trading, while improving accountability and transparency. The objective is the creation of a decentralized peer to peer network in which asset ownership can be settled cryptographically with little cost and latency. The system will allow traders to (1) prove ownership of assets, (2) transfer ownership between two trading parties in an efficient, secure, and timely manner. Achieving this will help traders comply with new financial regulations (such as the Dodd-Frank Act) regarding OTC markets, and reduce (1) market inefficiencies, (2) counterparty risk, and (3) settlement and clearing latencies and costs. Fields of science social scienceseconomics and businesseconomics Keywords cryptography probabilistically checkable proofs zero knowledge proofs financial markets derivative markets Programme(s) H2020-EU.1.1. - EXCELLENT SCIENCE - European Research Council (ERC) Main Programme Topic(s) ERC-PoC-2015 - ERC Proof of Concept Grant Call for proposal ERC-2015-PoC See other projects for this call Funding Scheme ERC-POC - Proof of Concept Grant Host institution TECHNION - ISRAEL INSTITUTE OF TECHNOLOGY Net EU contribution € 150 000,00 Address SENATE BUILDING TECHNION CITY 32000 Haifa Israel See on map Activity type Higher or Secondary Education Establishments Links Contact the organisation Opens in new window Website Opens in new window Participation in EU R&I programmes Opens in new window HORIZON collaboration network Opens in new window Total cost € 150 000,00 Beneficiaries (1) Sort alphabetically Sort by Net EU contribution Expand all Collapse all TECHNION - ISRAEL INSTITUTE OF TECHNOLOGY Israel Net EU contribution € 150 000,00 Address SENATE BUILDING TECHNION CITY 32000 Haifa See on map Activity type Higher or Secondary Education Establishments Links Contact the organisation Opens in new window Website Opens in new window Participation in EU R&I programmes Opens in new window HORIZON collaboration network Opens in new window Total cost € 150 000,00