Redbelly Network (RBNT)
Redbelly Network is a groundbreaking blockchain technology that stands out as the first formally verified blockchain system. It was developed through a collaboration between the University of Sydney and the Commonwealth Scientific and Industrial Research Organisation (CSIRO), which is the national science agency of Australia. The innovation is protected by Patent #12093247 granted in the United States, reflecting its unique approach and contribution to the blockchain space.
| Ticker | RBNT |
| Category | Smart Contract Platform |
| Website | https://www.redbelly.network/ |
| @RedbellyNetwork | |
| Telegram | redbellychat |
Development and collaboration
The creation of Redbelly Network is a result of a joint effort by leading academic and scientific institutions. The University of Sydney, known for its strong emphasis on research and innovation, partnered with CSIRO to develop this advanced blockchain. This collaboration underscores the network's foundation in rigorous scientific research and its commitment to pioneering technological advancements.
How Redbelly Network works
Redbelly Network operates by enabling Real-World Asset (RWA) issuers to tokenize and trade structured products that are compliant with regulatory requirements. This is achieved through a sophisticated integration of user identity and accountability at the transaction level.
Identity protection and compliance
One of the key features of Redbelly Network is its use of zero-knowledge proofs (ZKP) and verifiable credentials to protect users' personally identifiable information (PII). This approach ensures that user data remains private while maintaining compliance with necessary licensing and jurisdictional regulations. The network automates compliance processes, eliminating the need for repetitive Know Your Customer (KYC) procedures and allowing for customizable rules based on asset class and jurisdiction.
Digital registries and asset tokenization
Redbelly Network provides asset issuers with the capability to build digital registries. This creates a unified source of truth for entire asset classes, allowing for the seamless creation of new structured financial products from tokenized assets. The network collaborates with challenger-brand asset issuers who possess established network effects and assets, thereby minimizing issuer risk and promoting accountability.
Advantages of Redbelly Network
Redbelly Network offers several advantages that make it a unique and beneficial platform for asset issuers and traders:
- Formally verified blockchain: As the first blockchain of its kind, Redbelly Network's technology has been rigorously tested and verified, ensuring its reliability and security.
- Enhanced privacy and compliance: The use of zero-knowledge proofs and verifiable credentials ensures user privacy while maintaining compliance with regulatory requirements.
- Efficiency in tokenization and trading: By automating compliance and facilitating digital registry creation, Redbelly Network streamlines the process of issuing and trading tokenized assets.
- Support for innovation: The network's ability to accommodate new structured financial products fosters innovation and the development of new asset classes.