Setting up a WizKey Node
A WizKey node is composed of an AWS-based cloud computing and an Ethereum-based blockchain part. This allows WizKey to manage data in a fast and secure manner, preserving the confidentiality of information. WizKey is not involved in the processes and does not have access to any data uploaded by its users.
Creating a Data Room
Our data room employs an AI in order to verify the correspondence between the documents provided and the data tape, reducing the risk of eventual claims and ensuring the validity of data. The flexible structure of our data room allows the transfer of entire portfolios as well as single credits.
The documents provided are notarized on a public blockchain, thus guaranteeing a certain timestamp and the integrity of the information provided. The design of the WizKey token makes it impossible to double-spend assets or transfer them to multiple buyers. Furthermore, the data room corresponding to the assets is permanently linked to the token and is transferred to the buyer as soon as settlement occurs (or the contract is formalised).
Accessing to a New Market
The scope of the platform is inherently broad. Making use of blockchain technology, the infrastructure of the system and the token design allow the realization of both local and cross-border operations. The platform guarantees a significative reduction of the risks related to information asymmetry when purchasing assets. These benefits, together with facilitated access to the global market, ensure higher liquidity and thus the maximisation of the value of NPL portfolio for sellers and fewer risks for buyers.
Transferring the Asset
The whole negotiation process is notarized on the blockchain to ensure pre-contractual protection. The transfer of the data room is automated thanks to a DvP solution (delivery vs payment). The transferred token gives certain ownership of the asset and is immediately transferrable to third parties, spurring an active secondary market.
Defining our platform
Smart Data Room
A unique Virtual Data Room that follows the receivable for its entire lifecycle.
Wizkey Define facilitates the creation of highly-customized portfolios.
A certified digitalization process that grants legal validity to the uploaded files.
Enhanced Due Diligence
Streamline due diligence processes through A.I. and never repeat them.
Leverage blockchain to unlock the power of structured finance operations.
An all-in-one product to manage operations as never been before.
Permanently attached to the single credit
No more document loss
Credit value maximized over time
WizKey’s Virtual Data Room offers unlimited storage and is portable, as it is linked to every single credit and gets transferred in whole upon settlement. As such, every receivable is permanently linked to its own data room, eliminating document loss during its lyfe cicle.
Create highly-customized portfolios
Cherry picking of receivables
Regroup credits according to buyers’ needs
Leveraging the potential of our data room portfolios can be defined in different ways with different granularity. The seller can invite multiple potential buyers, allowing cherry-picking of single names as well as definition of new portfolios by regrouping credits according to their needs.
Uploaded documents have legal validity
PDF files can be used in court
Maximum legal protection by design
With our standardized process of digitalization of documents, defined in collaboration with the italian notary service, we make sure that PDF files uploaded on Define are certified copy with legal validity. This, in conjunction with our notarized chat system, grants our users the maximum degree of pre-contractual protection.
Powerful AI applied for due diligence
Automated crosscheck of data
Eliminate information asymmetry
Improves quality of information
Offers better price discovery mechanisms
The due diligence process is facilitated by the automated crosscheck of Data Tape and documentation carried out through an OCR. The results are then permanently attached to the receivables, eliminating information asymmetry and discrepancies between the datatape and the documents.
Tokens are the asset itself
Tokens are liquid
Tokens are immediately transferrable
Protection against double-pledging
Leveraging the potential of the Ethereum blockchain, every receivable is tokenized using the NFT standard ERC-721. The process of tokenization transform typically near-illiquid assets such as receivables into liquid and trasferrable tokens.
Pre-contractual protection granted
Improved management of the operations
All steps are notarized on blockchain
From origination to settlement, every step of a structured finance operation is encoded and can be carried out within Define. Furthermore, our use of notarization on blockchain grants unmatched legal protection for the parties involved in a transaction.