Concordium

Bitcoin was launched to the world in 2008, and to this point, it has captured the creativeness of thousands and thousands of crypto fanatics globally. From 1 cryptocurrency in 2008 to over 10,000 in 2021, the cryptocurrency trade has come a great distance. Again in 2010, Bitcoin’s market cap was a meager $170,000, and right this moment, it stands at over $618 billion, whereas the market cap of your complete cryptocurrency trade has crossed a determine of $1.51 trillion. Such astounding progress has caught the eye of economic regulators worldwide.

With the rising demand for cryptocurrencies, authorities are underneath stress to manage the crypto trade. In spite of everything, there are 106 million cryptocurrency customers worldwide, and the worldwide monetary regulators will need to shield them. However is the crypto trade prepared for rules? Many crypto initiatives would reply in constructive. However the reality is {that a} majority of cryptocurrencies in circulation right this moment are irregulatable.

The Launch of Concordium

There’s a lack of cryptocurrencies & blockchain platforms that may meet the necessities of end-users, builders, and regulators. However lastly, a blockchain platform and a cryptocurrency are arriving on the scene that meets all of the checkboxes. On June 9, Concordium Blockchain and its native cryptocurrency GTU are making their mainnet debut.

The crypto trade is incomes a foul rep due to a number of dangerous apples utilizing cryptocurrencies for unlawful functions. Resulting from this dangerous status, many customers are selecting to not be a part of the crypto bandwagon, which is impacting crypto companies and delaying the expansion of your complete trade.

Thus, it was in regards to the time when a crypto challenge met the necessities of authorities, builders, and end-users. Concordium capitalized on the chance and commenced improvement in 2018 itself.

Talking in regards to the upcoming launch of Concordium Blockchain, Lars Seier Christensen, Chief Government of Concordium, stated:

“The time has come for the blockchain trade to respect the overall guidelines of society. With the launch of Concordium Blockchain, the period of anonymity, opacity, and lack of transparency has come to an finish”

What’s Concordium?

Based in 2018, Concordium is a decentralized and sustainable public blockchain backed by a number of the most revered trade veterans and lecturers. It’s the brainchild of Lars Seier Christensen, who can be recognized for his stint at Saxo Financial institution, which he co-founded in 1992. Earlier this 12 months, realizing the excessive upside potential of Concordium, a number of the main buyers combinedly invested $41 million in Concordium in a non-public and strategic sale valuing the corporate at $4.45 billion.

Leveraging a novel set of options and expertise, together with built-in consumer identification and Zero-Information-Proofs, Concordium ensures privateness to its customers with out anonymity. To make sure privateness, Concordium helps encrypted funds. It additionally permits customers to confirm the identification of the counterparty earlier than sending them funds. Regulators, then again, can establish the origin of a transaction inside the Concordium community. It means Concordium hits three targets with one arrow.

Lone Fonss Schroder, Chief Government of Concordium, sums up the spotlight of the privateness characteristic on Concordium by saying, “Privateness, however not anonymity.” Concordium actually believes that by assembly the necessities of regulators, end-users, and builders, the blockchain trade will quickly notice its true potential, resulting in mainstream adoption of blockchain expertise and cryptocurrencies. Each builders and Concordium customers could have entry to a totally regulatable and clear blockchain platform from June 9.

How is Concordium Completely different?

In contrast to different blockchain & cryptocurrency platforms, customers don’t have to decide on between governance and transparency or privateness when utilizing Concordium. Additionally, each transaction within the Concordium community is identifiable and trackable, which can result in belief between regulators and the crypto trade.

Concordium has additionally constructed strategic partnerships with each trade and scientific analysis leaders & establishments. Within the scientific analysis area, Concordium has a partnership with Aarhus College, ETH Zurich, Indian Institute of Science, and Concordium Blockchain Analysis middle Aarhus.

General, Concordium is leveraging cutting-edge expertise and a revolutionary idea to vary the blockchain trade for good.

 

Picture by ar130405 from Pixabay

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