Welcome to our rundown of the third day at Davos. Today, besides meetings and attending sessions, we launched our very own decentralized, programmable, multichain and multiparty computation (MPC) on-chain product: MPC On-Chain Custody Advanced solution. In short – MOCCA. A custody milestone. This slated nicely into the day’s big themes:
Crypto markets were a key point of focus. Market-making and its intersection with algorithmic trading, market makers’ roles in price stability and volatility mitigation, and emerging trends were discussed. Our announcement of our MOCCA (MPC On-Chain Custody Advanced solution) during our keynote address highlighted how a decentralized, programmable, and multichain solution can redefine securing digital assets and make custodial management significantly easier. A need particularly relevant with the recent spot Bitcoin approvals by the US SEC.
Security, privacy, and transparency were the next major themes. This is reflected in the World Economic Forum’s (WEF) main focus for this year “Rebuilding trust” by honing on the fundamental principles fueling it, specifically transparency, consistency, and accountability. Panelists spoke on the importance of balancing transparency, security, and privacy in decentralized systems—a need fulfilled by our MOCCA product, alongside regulatory oversight. The main takeaways of which were that the industry needs infrastructure that will enhance transparency and help it widen its use.
Lastly, the financing side of the market was point on center stage. Contributors and founders gave an overview of their liquid crypto underwritings, the role of trading platforms in liquidity provision, and risks. The key takeaways were that liquid assets can offer contributors significant upside while mitigating much of the risk normally associated with financing in the asset class and the importance of technology, which facilitates trust between multiple parties.
We also had many meetings and attended thought-provoking sessions, such as WEF’s session on the risks and opportunities artificial intelligence (AI) brings into our daily lives. The Wall Street Journal’s session on managing risks, technology and compliance echoed our firm belief that tech plays a critical role in managing risks.
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DAVOS, 17 JANUARY 2024. Today in Davos, Partisia Blockchain unveiled its latest product – MOCCA (MPC On-Chain Custody Advanced solution). The MOCCA solution revealed during the World Economic Forum is a decentralized and fully programmable multichain custody solution designed to redefine the landscape of securing digital assets and ease custodial management.
The key differentiators of MOCCA from the existing custody solutions are its decentralized and enhanced programmability through smart contracts, blockchain agnostic multichain functionality, advanced security and compliance, and configurable privacy.
Peter Frandsen, Chief Technology Officer at Partisia Blockchain, says:
“MOCCA solution marks a significant milestone in the evolution of decentralized custody; it addresses the current limitations of traditional smart contracts and centralization. MOCCA empowers institutions and organizations with genuine decentralization, advanced programmability and the flexibility to secure digital assets across multiple chains. Backed by our decades-long expertise in multiparty computation (MPC), this product is our commitment to delivering cutting-edge solutions that redefine the standards of security, compliance, and innovation in the blockchain space.”
Partisia Blockchain’s latest MOCCA product addresses the limitations of inflexible and centralized custody solutions, offering genuine decentralization while providing full programmability. This is especially beneficial for institutions, decentralized autonomous organizations (DAOs), wallet providers and exchanges seeking trustless collaboration on securing digital assets.
The fully programmable nature of MOCCA’s custody smart contracts enable policies such as the addition or removal of signers, modification of threshold signature schemes and voting powers, integration of NFTs with special permissions, implementation of specific rules for transaction categories and much more.
Users can choose to bridge assets to Partisia Blockchain or secure assets on their preferred blockchains, offering flexibility and choice. Deployment is swift and cost-effective, directly on-chain, with customizable templates and tools. The MOCCA solution is designed to be blockchain agnostic, relying on MPC technology independent of protocol support.
Backed by 35 years of MPC research, Partisia Blockchain’s newest MOCCA solution ensures security and compliance. Advanced features, such as off-chain signing and key decentralization contribute to safeguarding substantial funds against potential threats. Public blockchains enable automatic key rotation and adjustable transparency levels, ensuring robust protection against attacks. Partisia Blockchain’s MOCCA goes beyond standard custody offerings by introducing security-audited standard policies and allowing for arbitrary code logic.
MOCCA deploys on public blockchains where its code and state are visible. However, key shards are exclusively generated and stored by users or MPC clusters, and then submitted to the decentralized MPC protocol. This allows participants to actively engage in governance and sign transactions directly on-chain—a significant advantage over commonly used TSS protocols, which are challenging to modify once deployed.
MOCCA Roadmap
Partisia Blockchain’s MOCCA represents a paradigm shift in custody solutions, offering unparalleled decentralization, security, ease and programmability. The solution is poised to meet the diverse needs of institutions and organizations navigating the complexities of managing digital assets in today’s dynamic landscape.
About Partisia Blockchain: Partisia Blockchain brings unparalleled opportunities by empowering privacy-preserving, interoperable and sustainable innovation for fairness and transparency. It fuels the most secure and efficient networks to solve global problems. Distilled with 35 years of rigorous research, Partisia Blockchain future-proofs solutions, solves tomorrow’s challenges by powering fair, secure, distribution of benefits. While preserving privacy and confidentiality, it brings accountable, transparent and decentralized governance. Learn more: www.PartisiaBlockchain.com
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The second day is a wrap! Today’s programming in Davos was all about digital assets, and we attended a thought-provoking session on research and development (R&D). Today’s themes were as follows:
Trust, and rebuilding it, is one of World Economic Forum’s 2024 themes, and one of our focuses at Partisia Blockchain. Today, our co-founder Brian Gallagher participated in the panel about the sustainability of the recent growth in crypto. Panelists spoke specifically on building decentralized trust networks and how these work around data protection—something at the heart of our multiparty computation (MPC) approach to facilitating transactions of all kinds, whether votes, permissions, or digital assets. They made the relevant points that for maturing industry trust between multiple parties, privacy of each party and an infrastructure that can facilitate that is vital for the long-term growth.
An important, related, issue to trust and data protection is risk management, especially for crypto assets. Again, as on the first day, regulation took center stage and the vital role it plays in managing risk in digital assets markets and protecting market participants. The feeling was that each party bears the responsibility in a healthy, sustainable and inclusive market environment.
The thread up until now in our presence at Davos seems to be how technology can be used to make essential financial and other processes more efficient and safer while mitigating risks. We attended WEF’s sessions on technology’s role in addressing air pollution and innovations disrupting research and development (R&D). We also attended the Wall Street Journal’s session on artificial intelligence (AI) and its risks. And here again we saw ample room for blockchain technology to improve processes in a way that fits several use cases while minimizing risk. It truly has the potential to be the technology of the future. The feeling was of big corporates’ willingness to invest more in emerging technologies, such as blockchain, to increase transparency and mitigate potential risks.
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