{"id":1397,"date":"2019-07-05T04:45:02","date_gmt":"2019-07-05T04:45:02","guid":{"rendered":"http:\/\/www.tt100.co.za\/?p=1397"},"modified":"2019-07-05T04:45:02","modified_gmt":"2019-07-05T04:45:02","slug":"avantcore-pty-ltd","status":"publish","type":"post","link":"https:\/\/tt100.org\/index.php\/2019\/07\/05\/avantcore-pty-ltd\/","title":{"rendered":"Avantcore (Pty) Ltd"},"content":{"rendered":"\n<div class=\"wp-block-media-text alignwide\"><figure class=\"wp-block-media-text__media\"><video controls src=\"https:\/\/www.tt100.co.za\/wp-content\/uploads\/2019\/07\/04-MOS-EMERGING-3.mp4\"><\/video><\/figure><div class=\"wp-block-media-text__content\">\n<p>Our adjudicator Chipa Maimela shares with us their experience of Avantcore (Pty) Ltd <\/p>\n<\/div><\/div>\n\n\n<p>Winner of the\nExcellence in the Management of Systems award for 2018, category for emerging\nenterprises <\/p>\n\n\n<h2 class=\"wp-block-heading\"><strong>Love it or hate it, digital assets are here\nto stay<\/strong><\/h2>\n\n\n<div class=\"wp-block-image\"><figure class=\"alignright is-resized\"><a href=\"https:\/\/avantcore.co\/\" target=\"_blank\" rel=\"noreferrer noopener\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www.tt100.co.za\/wp-content\/uploads\/2019\/07\/0039_AvantCore-logo_on-white-Nicholas-Allen-1024x664.png\" alt=\"\" class=\"wp-image-1399\" width=\"264\" height=\"172\"\/><\/a><\/figure><\/div>\n\n\n<p>Whether you love\nto hate it or love to love it, digital assets are not a fad. There are billions\nof dollars in digital assets already being moved around the digital universe\nevery day and the industry is only going to grow, says Nicholas Allen, CEO of\nfintech research and development (R&amp;D) house Avantcore, based in Kloof near\nDurban.<\/p>\n\n\n<p>\u201cA parallel\nfinancial universe is currently in the process of being established; a paradigm\nshift is going on,\u201d he says, referring to the host of fintech exchanges,\nplatforms and products springing up around the world and turning traditional trading\nand transactional models on their heads.<\/p>\n\n\n<p>\u201cWith\ntraditional\u00ad\u00ad\u00ad\u00ad\u00ad\u00ad models, there always needs to be a third-party intermediary.\nWith the emergence of digital assets, value can be transferred between two\nindividuals, without any intermediary,\u201d says Nicholas. \u201cThis is uprooting the\nway business is done, not just in banking and financial services but in many\nother industries too, because end-users can interact directly with each other.\u201d<\/p>\n\n\n<p>Clearly, there\nis a vast gap between the conventional centralised world and the new\ndecentralised world of digital ledger technology (DLT) \u2013 or blockchain as it is\nmore commonly known. The niche that Avantcore occupies is right in the middle;\nit seeks to build products for businesses to bridge the gap between the two\nworlds.<\/p>\n\n\n<p>There is risk in\nthe DLT sp\u00ad\u00adace, of course, just as there is risk in the old centralised\nfinancial world, and businesses understandably tend to be both eager to and\napprehensive about crossing the digital divide. <\/p>\n\n\n<p>\u201cThe challenge\nis to get the balance right by staying agile and nimble while keeping control\nof processes,\u201d says Nick. \u201cthis is why everything we do involves identifying\nwhat possible failure modes there could be, understanding the repercussions and\npreventing failure from occurring.\u201d<\/p>\n\n\n<p>For example, one\nof the products Avantcore has developed for a client is a digital asset\nmanagement engine that draws on and analyses massive volumes of data from\nmultiple sources, checking and double checking its accuracy and reliability. <\/p>\n\n\n<p>Avantcore\nimplements rigorous processes and systems for conceiving the required architecture\nand developing and testing DLT solutions and products, including thorough\ndesign processes, structured development models, code reviews and evaluation\nframeworks.\nThis balance between creativity and\ninnovativeness, on the one hand, and structure on the other, is starting to\nresonate with businesses considering taking the next fintech steps. There is\nstill a long road to travel before this fintech finds general acceptance in\nbusiness, Nicholas says, but progress \u00ad\u00adis evident. \u201cWe have been pleasantly\nsurprised to see how large corporations are interested in and working to get\nclued up about DLT and the emergence of digital assets as an asset class. They\nmay not be advertising it but they are interested.\u201d\n<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Our adjudicator Chipa Maimela shares with us their experience of Avantcore (Pty) Ltd Winner of the Excellence in the Management of Systems award for 2018, category for emerging enterprises Love it or hate it, digital assets are here to stay Whether you love to hate it or love to love it, digital assets are not &hellip; <a href=\"https:\/\/tt100.org\/index.php\/2019\/07\/05\/avantcore-pty-ltd\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Avantcore (Pty) Ltd&#8221;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":1404,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":["post-1397","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-2018-excellence-awards-article"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.4 - 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