Abacus Protocol is a permissionless protocol for services that facilitate the issuance, administration, and settlement of tokenized financial instruments on the blockchain. Our mission is to build the open financial infrastructure of the future and pave the way for the total automation of financial instruments.
Abacus Protocol consists of:
- A network that connects providers of identity, compliance, and other services to financial instruments built on the protocol. The Abacus Protocol coordinates these services with users and smart contracts by notifying the appropriate parties and getting the relevant data onto the blockchain.
- A storage layer where service providers write data onto the blockchain. This layer allows data to be reused across all assets, services and marketplaces within the Abacus ecosystem. This means no more repetitive KYC/AML checks for each token offering — write once, transact anywhere.
These two components combined provide a foundation for the creation of autonomous services designed to support tokenized financial instruments. Leveraging the immutability and permissionless nature of the blockchain, the Abacus Protocol distills today’s central institutions into smaller, more modular services that can be encoded directly to smart contracts and aggregated into the Abacus Network. This removes the barriers to entry that exist in the current financial industry, allowing anyone in the world to issue new digital tokens and provide the services needed to do so.
With the Abacus Protocol, we intend to automate the administration and settlement of financial instruments, bringing the benefits of the blockchain to the global financial market.