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Blockchain Got Down to Business in 2019

According to Deloitte, the blockchain story is beginning a new chapter, one in which the questions executives go beyond the potential and philosophy of the technology and are now more specific, focused and pragmatic. Executives are no longer asking, “Will blockchain work?” but, “How can we make blockchain work for us?”

Blockchain has been a technology of promise and potential for the last ten years but so far, corporate leaders across industries have often seemed unsure how to leverage it. According to Deloitte’s 2019 Global Blockchain Survey, 2019 has been a year of shared enterprise recognition that blockchain is a real and viable technology that can be utilized pragmatically to solve limitations within their businesses.

Executives who took part in Deloitte’s survey are confident about the new and evolving use-cases of blockchain. In comparison to Deloitte’s 2018 survey, respondents report that overall corporate blockchain investment is expanding across most sectors and practical applications are gaining traction.

2019 has shown some stage of blockchain’s metamorphosis from a capable yet underdeveloped technology into a more refined and mature solution poised to deliver on its initial promise to disrupt everything.

Survey HighlightsAccording to the survey, the technology’s momentum has begun shifting from “blockchain tourism” and exploration toward the building of practical business applications. Financial services and, more specifically, the FinTech sector were leading in blockchain development in 2018, while other industries were cautious in their search for use cases to provide a return on investment to justify the cost and effort of implementing blockchain solutions.In 2019, FinTech remains a blockchain leader, but more organizations in more sectors – such as technology, media, telecommunications, life sciences and health care, and government – are expanding and diversifying their blockchain initiatives. The researchers’ highlight that despite these advances, progress remains measured in the wake of blockchain’s first cyclical rise and fall, and the resulting attitude shifts following the initial blockchain buzz.An extremely positive finding for blockchain adoption in Deloitte’s 2019 survey reveals continued strong investment, with those willing to invest US$5 million or more in new blockchain initiatives over the next 12 months, holding steady at 40 percent (up a point from 2018). Simultaneously, 53 percent of respondents say that blockchain technology has become a critical priority for their organizations in 2019 – a 10-point increase over last year. Moreover, 83 percent see compelling use cases for blockchain, up from 74 percent, and respondents’ overall attitudes toward blockchain have strengthened meaningfully. Other 2019 survey data points to signs of blockchain’s increased maturity. For example, respondents saw blockchain providing more diverse advantages than in 2018. Similarly, the increasing diversification of potential use cases for blockchain – and the wider array and greater parity of identified barriers to blockchain adoption – suggest further signs of maturation.

To read the full report please go to –Deloitte’s 2019 Global Blockchain Survey.

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Ant Blockchain Open Alliance Seeks to Minimize Costs for SMEs

Ant Blockchain Open Alliance, an enterprise blockchain platform by Chinese financial giant Ant Financial, is expected to assist small to medium enterprises to generate their own blockchain applications at minimal costs.

As reported by Sina Technology on Jan 8, Ant Financial is expected to present the blockchain platform in February 2020 publicly. This announcement was made by the company’s vice president, Guofei Jiang, at the firm’s media meeting.

Notably, the beta launch of the Ant Blockchain Open Alliance was held in November 2019. Its primary objectives included the creation of multi-value, trusted, low-threshold, and low-cost networks.

Jieli Li, Ant Financial’s senior director of technology, ascertained that the company’s goal was creating a blockchain platform for the next generation of a credible value network.

Innovative Enterprise Blockchain Platform

Jiang affirmed that the Ant Blockchain Open Alliance had the capability of supporting 1 billion transactions daily through double-layer network design and scalability consensus. Additionally, it could attain 100,000 cross-chain information processing abilities per second.

Jiang noted, “The ant blockchain will be open to industry partners. In terms of serving the real economy, the ant blockchain has no competitors and only fellow travelers.”

The technological capacities of the blockchain platform are purported to be open, mature, and inclusive as insights from partners with extensive industry experience will be incorporated.

Up to this point, it has been reported that Ant Blockchain Open Alliance has been instrumental in helping resolve trust issues in at least 40 industries, including trade finance and cross-border remittances. Moreover, the blockchain platform has received 1,005 global patent applications.

Jiang views blockchain as the most valuable technology in the present age.

He affirmed, “We believe that in the future, blockchain will change people’s production and lifelike mobile payments and become the infrastructure of the digital economy.”

Ant Blockchain Open Alliance seeks to make small and micro-enterprises more advantageous by presenting them with lower costs, whenever they want to expand their blockchain capabilities.

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EY, Microsoft and ConsenSys Create a Platform For Enterprises on Ethereum Mainnet

Global accounting firm EY, have launched their open-source Baseline protocol which aims to address privacy issues to encourage enterprise adoption of public Ethereum.

Baseline was created by EY in collaboration with technology giant Microsoft and ConsenSys and is specifically designed for enterprises to build on top of the Ethereum public blockchain.

According to the announcement on March 4, the Baseline Protocols aim is to empower enterprises to adopt the public Ethereum blockchain for complex and confidential processes, without storing sensitive data on-chain.

John Wolpert of ConsenSys and Hyperledger Fabric explained, “This is not a platform. It’s not a product. It’s not a coin, a token. It is a way of using the main net (public Ethereum) that will be acceptable, we think, to very conservative corporate CSOs (chief security officers), CIO, CTOs, where they can finally say, yep, it’s okay to use the main net in this way.”

How the Protocol Works

The Baseline Protocol heavily leverages Zero-Knowledge Proofs (ZKP), a kind of encryption that is used to verify information without actually exposing the information.The Baseline Protocol started with a specific use case for volume discounts in a supply chain.

The release offered an example, “The volumes and the discount rates are not stored on the blockchain, but a zero knowledge proof is. As a partner, based on your volumes a smart contract will calculate the relevant discount rate. Critically, given smart contracts on a public blockchain are usually visible, with the Baseline Protocol, a competitor would not be able to see the smart contract contents or the volume discount details.”

The outputs are tokenized, although they are kept private. The release explained that tokenization makes transactions compatible with decentralized services offered on Ethereum. An EY spokesman explained, “So that the inputs and outputs are set up and being built out in such a way that we can access things like working capital for a purchase order or factoring of a receivable, without compromising the buyer or seller’s security and privacy.”

The Baseline protocol is aimed at firms offering customer relationship management and enterprise resource planning services without requiring any modification to legacy systems.

Tokenizing Municipal Bonds

ConsenSys recently featured on Blockchain.News when it was reported that the Ethereum development studio was making a move on the less glamorous and often-forgotten local municipal bond market. ConsenSys had acquired brokerage firm Heritage Financial Systems in an attempt to modernize the municipal bond market, which is notoriously error-prone and out-dated.

In an effort to place the traditional and inflexible municipal bonds market on the blockchain, ConsenSys intends to tokenize the $3.8 trillion municipal bonds market to allow local governments to raise funds and gain local investment more efficiently.

The company aims to tokenize municipal bonds (munis) in smaller denominations to enable local residents to invest in community projects. The tokenization will also decrease the high cost of managing, distributing, and selling mini municipal bonds.

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Algorand Protocol Stateful Smart Contract Upgrade Targets Scalable DeFi Solutions and Dapps

Algorand, the first pure proof of stake (PoS) blockchain protocol, is entering the decentralized finance (DeFI) ecosystem with its new highly scalable smart contract capabilities.

The Algorand Foundation announced the launch of the comprehensive smart contract capabilities that will purportedly enable DeFI developers to create Defi solutions and Dapps that “can scale to billions of users” while benefiting from the security of its base layer Algorand protocol.

According to the blog on Aug 19, restrictions around scale, transaction speeds and high transaction fees have been barriers to mainstream blockchain adoption. Algorand’s latest upgrade of “stateful smart contracts […] removes these barriers and enables DeFi and dApp developers to build more sophisticated solutions, scale their applications, and make the promise of a borderless economy a reality.” The layer-1 integration of stateful smart contracts join existing capabilities such as Atomic Transfers.

Algorand and Defi

Algorand’s Pure Proof-of-Stake consensus protocol was designed for enterprise-grade utility and was built to overcome what was known as the blockchain trilemma which was the issue of achieving scalability, decentralization, and security simultaneously in a blockchain, which many saw as unfeasible.

As the blockchain industry continues to approach maturity, the developer team is hoping that these latest advances in Algorand’s smart contracts could propel decentralized applications and the DeFI space to take on established financial systems.

Silvio Micali, Founder of Algorand said “DeFi gives the world access to an essentially unlimited number of financial products and services. It’s important for the new generation of dApps not to be stalled by the shortcomings of the first-generation blockchains” He added, “Algorand’s protocol serves as a solid foundation to power truly frictionless applications, and our approach to smart contracts makes them high-performing and functionally advanced enough to rival today’s existing financial services.”

CBDC in Marshall Islands

Since Algorand’s mainnet launch a year ago, nearly 400 companies have joined Algorand’s ecosystem, leveraging the platform to build an assortment of applications, from investing with Republic to supporting stablecoins like Tether and even the development of central bank digital currencies or CBDCs for the Marshall Islands.

The Republic of the Marshall Islands revealed back in March, that the blockchain for the world’s first sovereign digital currency will be built using Algorand’s technology.

Plans for the Marshallese Sovereign (SOV)were first announced in February 2018 following a vote by the nation’s parliament in favour of proceeding with the plan.

SFB Technologies is the company responsible for developing the blockchain infrastructure for the Marshall Islands. In an announcement on March 2, the technology provider shared that the initiative to implement the Algorand protocol into the Marshallese SOV’s infrastructure was necessary to bring together the digital currency and mainstream regulatory compliance.

The SOV will circulate alongside the US dollar and help the Marshall Islands efficiently operate in the global economy. According to Algorand in the statement, “The SOV supply will be algorithmically fixed to grow at 4% each year to prevent runaway inflation. The SOV will be introduced through a token pre-sale: rights to future SOV will be sold in a series of auctions as part of a time-release monetary issuance (TRMI), which is expected to begin this year.”

Max Keiser Expects Other Enterprises to Acquire Bitcoin Following MicroStrategy’s Lead

Bitcoin maximalist and prominent RT television anchor Max Keiser believes that big companies and corporations will go all-in and invest big in Bitcoin as they will follow MicroStrategy’s approach.

Max Keiser has praised MicroStrategy for turning bullish on Bitcoin and believes that other major enterprises will follow suit.

Keiser said that shareholders of other big firms and corporations will now follow suit to convert their cash reserves into Bitcoins just like billionaire-dollar public company MicroStrategy and Canadian restaurant chain Tahini’s have already converted their reserves into the world’s leading cryptocurrency.

Big Companies Find Bitcoin

MicroStrategy, the Nasdaq-listed business intelligence company, has become the first publicly-traded company to purchase Bitcoins as part of its capital allocation strategy. On August 11, the company announced that it has bought 21,454 Bitcoins worth over $250 million, an incident that made headlines in the mainstream media and crypto community. The company decided to acquire Bitcoins as a way to avoid inflation. Again, on September 15, the company announced that it purchased another 16,796 Bitcoins, adding to the 21,454 it bought last month. MicroStrategy mentioned that Bitcoin serves as the company’s primary treasury reserve asset, saying it positions Bitcoin purchase as a hedge against inflation.

Max Keiser has recently tweeted that shareholders will now demand that their companies and corporations to begin acquiring Bitcoins with their spare cash.

In fact, Keiser was commenting on a tweet posted by the Tahini’s Canadian restaurant chains that recently has already converted all of its cash reserves into Bitcoin.

On August 19, Tahini’s restaurants announced that it converted their entire fiat cash reserves into Bitcoin. The restaurant’s decision to convert its reserves into the leading cryptocurrency originated from the March’s economic crash due to the COVID-19 crisis. During that time, the Canadian government began providing assistance programs for businesses unable to operate their businesses because of the coronavirus pandemic.

Many businesses were adversely affected, including the worst-hit industries like the food and hospitality industry. Tahini’s was adversely affected, a situation that forced the restaurant to lay off a big number of its employees. Since the laid-off workers were obtaining assistance from the government than what the restaurant could pay, most of these workers did not turn up for work. The stimulus programs made employees have a lot of money on their pockets. The situation made Tahini’s owner and CEO, Omar Hamam, to think that fiat money could become worthless if everyone has cash in abundance.

With the American and Canadian governments printing money to save their economies from the COVID-19 pandemic, Omar Hamam started thinking that significant fiat currency devaluation would soon occur. Hamam, therefore, decided to embrace Bitcoin as a suitable hedge against the devaluation of fiat currencies, which is likely to follow as Fed and other central banks are increasing fiat money supplies at an unprecedented rate.

Today, Tahini’s restaurant has posted a comment on its Twitter page, saying that big companies like Google, Apple, as well as big personalities like Jeff Bezos, Elon Musk, and the pro-bitcoin Twitter CEO Jack Dorsey would follow Tahini’s and MicroStrategy in converting portions of their spare cash into Bitcoin.

Bitcoin as Inflation Hedge

High-profile investors are worried that the Coronavirus stimulus from central banks and governments would eventually drive up prices. In order to hedge against the inflation risks, several billionaire investors are acquiring Bitcoins. For example, billionaire hedge fund investor Paul Tudor Jones recently revealed that Bitcoin is part of his portfolio. Global Macro investor CEO Raoul Pal also said that he has put Bitcoin as a portion of his assets to serve as an inflation hedge. Many other investors have also invested in Bitcoin to cover themselves against inflation.

Bitcoin is now the most preferred asset to own among institutional investors. MicroStrategy has set a good example, and global companies would consequently move to acquire Bitcoin to hedge against inflation.

Block.one Launches EOSIO for Business as PwC Makes $1.76T 2030 Blockchain GDP Prediction

Block.one today announced a new suite of enterprise service offerings designed to help organizations integrate blockchain-based solutions into their operations. The announcement comes following a recent PwC report that predicts blockchain has the potential to boost global gross domestic product (GDP) by $1.76 trillion.

According to an email shared with Blockchain.News, the four new offerings will leverage Block.one’s performance-focused EOSIO software and will include Blockchain-as-a-Service (BaaS), consulting, technical support, and training and certification programs.

PwC Predicts Huge Growth For Blockchain

While blockchain is most known as the underlying infrastructure supporting cryptocurrencies, PwC experts reviewed other key advantages of the distributed ledger technology (DLT).

Five case scenarios in which blockchain could be used to drive the digital revolution forward included provenance – the tracking and tracing of products and services – payments and financial services, identity management, and the application of blockchain in contracts and dispute resolution as well as customer engagement.

Speaking about the potential ways blockchain technology could be used, Steve Davies, a Partner and Blockchain Leader at PwC UK, said:

“Blockchain technology has long been associated with cryptocurrencies such as Bitcoin, but there is so much more that it has to offer, particularly in how public and private organisations secure, share and use data.”

The analysis evaluated blockchain technology’s potential across different industries, from healthcare, government and public services to finance, logistics, retail, and more.

According to PwC analysts, Asia stands to reap the most economic benefits from blockchain technology over other continents.

In terms of countries, China and the US were designated as the ones that could potentially gain the highest net benefits from blockchain, estimated at $440 billion and $407 billion respectively, according to data from PwC. The net benefits of five countries, notably Germany, Japan, the UK, France, and India were also calculated to surpass $50 billion.

Overall, across all sectors, the public administration, healthcare, and education industry appears to be the biggest beneficiaries, with PwC expecting them to gain approximately $574 billion by 2030 through using blockchain for identity and credentials.

Blockchain Enterprise Entrance

As enterprise digital transformation continues to drive corporate growth, organizations are exploring blockchain-based solutions for more reliable, secure and transparent data infrastructure.

The accelerated interest and adoption of the technology has left a growing gap in both technical expertise and resources needed to effectively incorporate blockchain solutions. Block.one’s EOSIO for Business is focused on closing this gap with simple yet powerful solutions.

Block.one Chief Operating Officer Ted Cahall:

“Despite knowing the inherent benefits that blockchain will deliver to their business operations, many in-house product engineering teams are wary of the complexity involved in setting up and administering their own blockchain […] Our EOSIO for Business customers will be able to work directly with EOSIO experts to ensure that their implementations seamlessly integrate with existing technology, and they will also have exclusive access to the newest EOSIO features and upgrades – all of which will enable in-house teams to focus on other business priorities while still benefiting from the reliability and security of their new blockchain systems.”

The four major components of EOSIO for Business include:

EOSIO Premier Technical Support: Enables companies to easily identify support tiers that suit their needs in outsourcing troubleshooting and technical assistance in order to launch and maintain operations for an EOSIO implementation.
EOSIO BaaS: An automated blockchain platform, fully managed by Block.one, allows companies to leverage blockchain technology without having to dedicate internal resources to ongoing maintenance.
EOSIO Consulting: Offers direct access to EOSIO engineers to empower developers to better identify, architecture, and implement solutions through first-hand exposure on how to design and implement EOSIO smart contracts.
EOSIO Training and Certification: Comprehensive courses covering the foundations of EOSIO including smart contract programming, auditing and the best security practices for integrations.

Clients are already benefiting from Block.one’s enterprise support. Mythical Games, the game technology studio on the Forbes “Disruptive Technology Companies to watch” list, uses EOSIO for Business services to create digital ecosystems around player-owned economies.

Rudy Koch, Co-founder and SVP of Business Development at Mythical Games said:

“At Mythical, we are redefining game economies and creating new revenue opportunities by putting more power and ownership in the hands of players and content creators […] EOSIO is an integral part of our efforts. Leveraging Block.one’s EOSIO BaaS service enables us to continue delivering world-class game technology products to our players and partners.”

IBM and R3 to Scale Up Hybrid Cloud with Blockchain Capabilities

Tech giant IBM has teamed up with R3, an enterprise software company, to boost hybrid cloud with blockchain capabilities so that the highest levels of data privacy, compliance, and performance can be achieved.

Building blockchain solutions for enterprises in regulated fields

Through the strategic partnership, a new open beta program will integrate R3’s blockchain platform Corda Enterprise with IBM LinuxONE, enterprise Linux servers for cloud solutions, from next month. As a result, the hybrid cloud will be enhanced both on-premises and the IBM cloud.

THe hybrid cloud is an environment of mixed computing, services, and storage. It includes a public cloud, private cloud services, and on-premises infrastructure.

Enterprises are continuously seeking blockchain solutions, which offer enhanced performance as well as advanced data privacy and security features. This has been the case, especially for those in regulated industries. Therefore, this partnership intends to bridge this gap.

As per the announcement:

“For clients with highly sensitive data and workloads such as digital identity, digital assets, central bank digital currencies, tokens, payments information, or smart contracts being spread across hybrid cloud environments, IBM LinuxONE provides a highly secured platform certified to meet the highest level of security certification commercially available.”

Confidential computing abilities

The blockchain solution is expected to offer enterprises with confidential computing capabilities, such as data encryption both in-flight and at-rest, tamper protection, and ‘Keep Your Own Key’ workload isolation.

Ross Mauri, IBM Z general manager, noted:

“In keeping with IBM’s efforts to bring choice to clients in the era of hybrid cloud, we support an open ecosystem of blockchain providers. Bringing R3 to IBM LinuxONE is another exciting example of leveraging our highly secured confidential computing capabilities to help our clients of all sizes, across any industry, protect their most sensitive data across the hybrid cloud.”

Boosting scalability

The blockchain platform is expected to enhance the hybrid cloud with efficiency, security, and scalability features. As a result, enterprises will be able to run their most sensitive workloads with flexibility and transparency.

Jason Kelley, the general manager at IBM Blockchain Services, acknowledged:

“This center of excellence is being designed to innovate and incubate client-requested ideas and use cases leveraging IBM’s deep expertise in developing and standing up commercially available production-grade blockchain networks.”

IBM is continuously making notable strides in the blockchain space. Last month, it partnered with the Thailand Blockchain Community Initiative (BCI) to extend the scope and reach of a blockchain-powered electronic letter of guarantee (eLG) platform to businesses of all sizes. Since its inception in late 2019, the platform has handled guarantee letters worth nearly $300 million.

Blockchain Industry Leaders R3 and FORMS HK join Cyberport to Launch “Block AdVenture” Program

Hong Kong’s innovation hub, Cyberport has partnered with leading global enterprise blockchain platform provider R3 and pioneer of blockchain applications FORMS HK to launch the Block AdVenture program.

The Block AdVenture program is part of Cyberport’s commitment to empowering Hong Kong start-ups through the use of cutting-edge technologies and creating innovative digital solutions that meet the market’s needs. Blockchain is one of the key technology clusters promoted by Cyberport.

According to a release shared with Blockchain.News on Oct 22, the Block AdVenture, program equips local startups with a deeper knowledge of blockchain and assistance in making better use of blockchain platforms. The program has been designed to help start-ups validate their business ideas and accelerate their product-market fit through community events, workshops, mentorship from industry leaders and access to prospects and investors.

Eric Chan, Chief Public Mission Officer of Cyberport, said:

“Blockchain applications have become prevalent across different industries, helping to make the information transfer in business activities more efficient and transparent. We can see successful examples of blockchain technology being used in finance, logistics, testing and even esports and the fashion industry.”

How does it Work?

Over the three month duration of the Block AdVenture program, representatives from R3 and FORMS HK will pass on their knowledge of blockchain applications to start-ups and provide one-on-one coaching to help participants develop proofs of concept (POCs).

Marc Liew, APAC Venture Development Lead of R3, said:

“R3’s Venture Development program will serve as a gateway to the R3 ecosystem for entrepreneurs and start-ups seeking to leverage blockchain technology to accelerate their business. As the world of enterprise rapidly evolves, businesses need strong partnership networks and support to face a ‘new normal’ – and we will do everything we can to support Hong Kong’s thriving technology sector in collaboration with our partners.”

The program is open to all start-ups and other local companies that have an interest in applying blockchain technology in their business development but only ten will be shortlisted to take part in Block AdVenture based on three criteria – impacts, innovation, and technology – in the business proposal they submit.

The Block AdVenture program will end with a demo day, and the most outstanding companies will be awarded cash prizes and investment matching opportunities as well as the Corda Enterprise Development License to help deploy their solution for production. In addition, R3 will provide all participants with an extended Corda Enterprise evaluation license, free AWS cloud credit, business use case consultancy, one-on-one industry expert mentorships, and technical consultancy.

The program is free of charge. Hong Kong startups interested in taking part can apply before November 16.

In other news, R3 has also teamed up with tech giant IBM to boos Hybrid Cloud capabilities with blockchain, for enhanced data privacy, compliance and performance.

Digital Transaction announces world’s fastest web-scale blockchain and launches its utility token XPLL

Ground-breaking blockchain technology company Digital Transaction announced the fastest public blockchain in the world today, ParallelChain™, with speeds in excess of 100,000 transactions per second and real-time latencies of less than 0.003 seconds.

This game-changing blockchain’s performance is unheard of to date. ParallelChain™ is a fully public blockchain ecosystem that includes impenetrable links to private and personal blockchains, as well as seamless migration paths from Hyperledger and Ethereum.

XPLL utility token is now on pre-sale

At the same time, Digital Transaction has launched its utility token XPLL and is now giving investors the opportunity to stock up on XPLLs during its pre-sales stages; and based on the project’s Lightpaper, it could be worth your consideration. XPLL tokens can be easily purchased through a SAFT agreement and the token is set to be minted in June 2021, and is targeted to list on exchanges in August 2021.

Ian Huang, Founder and CEO of Digital Transaction, spoke to Blockchain.News:

“Introducing the XPLL token enables us to offer a marketplace for the most performant and decentralised services for our customers and partners. The pre-sales of XPLLs gives participants the opportunity to take part in the development of this revolutionary technology and secure XPLL tokens before they become publicly listed on multiple exchanges in the second half of 2021.”

XPLL will be minted as a fungible ERC-20 token and can be held in conventional ERC-20 compatible wallets, or on Digital Transaction’s crypto wallet, ParallelWallet, which is unforgettable and unhackable.

ParallelChain™ — performance matters

ParallelChain™ is powered by an algorithm called Proof-of-Immutability (PoIM) that is defined by not needing consensus at the time of record writing and guarantees ParallelChain™’s ultra-high-performance features of real-time latency, no forking, no mining, and no data-leaks. This unique algorithm achieves true finality in real-time, will work even if the internet is down and will be able to maintain security even if an attacker or malicious actor had control of the internet itself.

ParallelChain™ — the only blockchain you will ever need

For years, companies have had to experiment with low-performing blockchains that fall short of their expectations and governance protocols, leading them to too many compromises when considering blockchain technology as an upgrade. But no more.

With Digital Transaction’s ParallelChain™, the industry seems to finally have a distributed ledger technology that is able to address and solve all existing blockchain shortcomings. As a layer 1 public, personal and enterprise blockchain all-in-one, ParallelChain™ can emulate the internet “even faster” with the speeds and bandwidth needed to power any internet and native applications, including the fastest and most bandwidth-hungry ones such as corporate banks and crypto exchanges. It conceivably is the fastest, most scalable and most secure blockchain on the market today and could be a game-changer for all companies.

Ian Huang said,

“With ParallelChain™’s all-in-one model, industries are coming to the realization that they can finally deploy blockchain technology at the core of their digital transformation initiatives with zero compromises, making them more efficient and creating new revenue streams.”

As a new infrastructure capable of supporting next-gen technologies, ParallelChain™ encompasses unique features that are unmatched by other blockchains:

An industry record of over 100,000 transactions per second
Real-time updates <0.003 second latency
Seamless migration from Ethereum and Hyperledger applications
The only blockchain offering full compliance with European General Data Protection Regulation (“GDPR”)
Unlimited scalability: unlimited active partners (nodes) without any degradation in performance

Ian Huang continued:

“ParallelChain™ is the future of computing that the world has been waiting for. What is truly remarkable with ParallelChain™ is that its current baseline speed of well over 100,000 TPS is on a single platform; by combining chains, it can easily reach 200,000, 300,000, or 400,000 TPS today in a seamless configuration that offers unlimited scalability with no degradation in performance.”

A Bit about the Company

According to Digital Transaction’s CEO and Founder Ian Huang, Digital Transaction was born out of a growing market frustration, or a “promise never realized”, in the blockchain space, where existing enterprise and public blockchains are slow, lack agility, scalability and data privacy. Huang believes that until now, under-performing generation 1 and 2 enterprise blockchains have failed to live up to the performance and governance protocols that enterprises expect, and this has stalled the implementation of blockchain on a global scale.

Noticing this opportunity to establish a platform that would live up to the theoretical promises of blockchain, Huang established his company in 2018 and with his team, designed and built a blockchain from the ground up now known as ParallelChain™ — with an infrastructural framework that enables wider and faster adoption of blockchain in all industries. Digital Transaction is already working on ParallelChain™ 2.0, which will see speeds reaching more than 200,000 transactions per second by mid-2021.

To find out more about this unique blockchain, visit digital-transaction.com and view and pre-purchase XPLL utility tokens before they hit exchanges later this year.