Similarly, each user is brought to the network by only one node (institution), which manages their data.
The node that brought the user is the Primary Node for that user.
The user is known as a Primary User of that node.
Only the primary node of the user can create and update information relating to the user. And only the primary node of the user can decide who (which other nodes) to share the user’s private information with.
After each transaction is finalized on the asset’s primary node, a separate Confirmation Record is stored by the user’s Primary node, on their own Distributed Ledger, so that:
The Distributed Ledger of the primary node of each asset has an immutable record of all transactions of that asset, and a fully updated, final, live cap table of the asset at any point in time.
The Distributed Ledger of the primary node of each user has an immutable confirmation record of all their transactions across all assets, so every institution has a fully updated list of all the holding of each of their users.
The nodes capabilities are broken to services, each node will implement the relevant services for it’s role in the network.
One network, to which all financial institutions can connect - which manages assets and users, and enables securities transactions, regardless of which front end apps or Distributed Ledger each financial institution chooses to utilize. Such network will therefore be able to digitize the private capital markets.