Identity Focused Blockchain Concordium Announces Mainnet Launch

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

With the rising demand for cryptocurrencies, authorities are below strain to manage the crypto business. After all, there are 106 million cryptocurrency customers worldwide, and the worldwide monetary regulators will wish to shield them. But is the crypto business prepared for rules? Many crypto tasks would reply in constructive. But the reality is {that a} majority of cryptocurrencies in circulation immediately are irregulatable.

The Launch of Concordium

There is an absence of cryptocurrencies & blockchain platforms that may meet the necessities of end-users, builders, and regulators. But 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 business is incomes a nasty rep due to a couple of dangerous apples utilizing cryptocurrencies for unlawful functions. Due to this dangerous fame, many customers are selecting to not be part of the crypto bandwagon, which is impacting crypto companies and delaying the expansion of your entire business.

Thus, it was concerning the time when a crypto mission met the necessities of authorities, builders, and end-users. Concordium capitalized on the chance and started growth in 2018 itself.

Speaking concerning the upcoming launch of Concordium Blockchain, Lars Seier Christensen, Chief Executive of Concordium, mentioned:

“The time has come for the blockchain industry to respect the general rules of society. With the launch of Concordium Blockchain, the era of anonymity, opacity, and lack of transparency has come to an end”

What is Concordium?

Founded in 2018, Concordium is a decentralized and sustainable public blockchain backed by a few of the most revered business veterans and teachers. It is the brainchild of Lars Seier Christensen, who can be recognized for his stint at Saxo Bank, which he co-founded in 1992. Earlier this 12 months, realizing the excessive upside potential of Concordium, a few of the main traders 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 know-how, together with built-in person identification and Zero-Knowledge-Proofs, Concordium ensures privateness to its customers with out anonymity. To guarantee privateness, Concordium helps encrypted funds. It additionally permits customers to confirm the id of the counterparty earlier than sending them funds. Regulators, however, can determine the origin of a transaction throughout the Concordium community. It means Concordium hits three targets with one arrow.

Lone Fonss Schroder, Chief Executive of Concordium, sums up the spotlight of the privateness function on Concordium by saying, “Privacy, but not anonymity.” Concordium really believes that by assembly the necessities of regulators, end-users, and builders, the blockchain business will quickly understand its true potential, resulting in mainstream adoption of blockchain know-how and cryptocurrencies. Both builders and Concordium customers can have entry to a completely regulatable and clear blockchain platform from June 9.

How is Concordium Different?

Unlike different blockchain & cryptocurrency platforms, customers wouldn’t have to decide on between governance and transparency or privateness when utilizing Concordium. Also, each transaction within the Concordium community is identifiable and trackable, which is able to result in belief between regulators and the crypto business.

Concordium has additionally constructed strategic partnerships with each business and scientific analysis leaders & establishments. In the scientific analysis house, Concordium has a partnership with Aarhus University, ETH Zurich, Indian Institute of Science, and Concordium Blockchain Research middle Aarhus.

Overall, Concordium is leveraging cutting-edge know-how and a revolutionary idea to vary the blockchain business for good.


Image by ar130405 from Pixabay

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