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FinTech Connects… with Gilbert Verdian, CEO and Founder, Quant Network

FinTech Connect chats with Gilbert Verdian CEO and Founder of blockchain technology company Quant Network. Tasked with connecting the world’s networks to blockchain, Gilbert is building the Internet…

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FinTech Connect chats with Gilbert Verdian CEO and Founder of blockchain technology company Quant Network. Tasked with connecting the world’s networks to blockchain, Gilbert is building the Internet of Trust by converging blockchain, AI and cybersecurity. Having a keen interest in disruptive technology, Gilbert is the author behind the Blockchain ISO Standard TC307 initiative and is the Chair of the UK’s national committee on Blockchain and Distributed Ledger technologies (DLT/1) as well as the Interoperability working group for ISO. He also sits on committees in the Federal Reserve, the EU’s Blockchain Observatory, PayUK’s Cybersecurity board and UK Government’s DLT committees. 

He’s actively working to advance technology in the areas of AI, Cybersecurity, Blockchain, Fintech & Health.

Gilbert will be delivering a keynote at Blockchain Connect on December 3rd as part of this year’s FinTech Connect.

For those who are not aware, what does Quant do?

Quant solves one of the biggest pain points in FS, that is the ability to work with different technologies in blockchain. The industry loves blockchain and this technology is able to create new types of products and service offerings and it allows you to do that safely with trust.

However, the problem that everyone has is the dilemma of which blockchain technology to use. Then they have limitations so, they will be locked into a particular blockchain technology, vendor or simply don’t have the right skills to implement blockchain. Subsequently, we’ve simplified the adoption and implementation of any blockchain, allowing any Financial Services Institution and enterprise to use different types of blockchain with just three lines of code and benefit from the combined features of different technologies. Furthermore, we are working across financial infrastructure with payments and settlement, Capital Markets to move digital assets and tokenised securities in the US and starting work with Central Banks across digital assets. We’re in the middle of shaping the financial system of future.

What can you tell us about the Overledger OS?

The concept of Overledger was to solve the problem of disparate enterprise data across different systems and jurisdictions. The challenge, as an industry was that we were making the same mistakes of the past, creating technologies in isolation. We set out to solve this early on, initially tackling the problem by creating Standards, by establishing the Blockchain ISO Standard TC307 in 2015 then building our technology in 2017.

We have built the world’s first blockchain operating system which interconnects blockchains and existing enterprise platforms, solving interoperability at scale. We removed the barriers for enterprise adoption of blockchain, by giving clients the choice to use any supported blockchain without the challenges of vendor and tech lock-in, lack of interoperability and the freedom to use the best features of different chains in combination.

There has been an incredible amount of hype around blockchain over the past 5 years, where do you think the FS industry currently stands?

The industry has matured hugely in the last 2 years. We’ve moved on from the pilot and experimentation stage to actual implementation within financial systems.

We’ve seen the mass adoption of Digital Assets and the benefits of tokenization and fractionalization as well as created new opportunities and liquidity in asset classes. This is all of course, supported by regulation which has now caught up and is allowing for an environment of innovation. 

Do you think the Financial Services are at a point where it is overcoming challenges and hesitation to implement blockchain at scale?

I think in 2019 we had an inflection point in financial services. So much technology was built and implemented, passing the tests of pilots and prototypes. We’re seeing implementations of blockchain technologies within products and services, being used by customers and not having to know anything about blockchains or digital assets.

Can you tell me more on Overledger Network and its key applications you see for blockchain in financial services?

Public (Permissionless)Blockchains and the underlying nodes have been challenging to implement within enterprise networks. The core of the technology is a peer-2-peer network which anyone can connect and access all participants of the network. These were the very same challenges that plagued corporate security teams during the early 2000’s when the protocols of Napster and Bittorrent invaded their networks,

We can transform industries by creating a secure layer between them – at scale.  We want organisations to have choice and openness. Therefore, we have to focus on interoperability so that different industries can transact securely. It’s the mandatory step for technology innovation where close networks are open up and innovation happens. It was only when close proprietary internet networks and walled gardens from the likes of Compuserve and AOL were opened, resulted in the internet of today which created the Google’s and Amazons of the world. Society operates in open networks to communicate, transact and trade, this should be the same for blockchains.

The Overledger Network is the Network of Networks which allows for enterprises to safely host their own gateways to access all blockchains while complying to security and regulatory requirements and having access to new markets through the hyper-connected network.

What role does interoperability have in financial services of the future?

One of the biggest barriers for financial services has been the uncertainty of which blockchain to use and if you pick one, how do you avoid lock-in and migrate to other technologies when you need to.

Universal Interoperability is the key requirement to enable mass implementation of the technology and provide financial institutions the ability to freely trade and send financial transactions across borders and networks. This opens up the financial system, providing market access globally to gain new customers and expand products to new marketplaces.

The walled gardens of old cannot accommodate the decentralized world we are heading towards, where every stakeholder and participant can have friction access to each other to create value.

What examples of blockchain implementation are you impressed with?

We’ve seen a lot of impressive use cases in the last year. The convergence of IoT/5G, AI and Blockchain has created a world of possibilities. We’re seeing early glimpses of what is done when autonomous decisions are made by machines, transacting with value and money to better serve people. I’m impressed by the use of Blockchain for AI to securely access big data sets to authenticate and authorize plus rewarding participation. The European Space Agency have taken this approach to use blockchain to access large images datasets using blockchain.

What can we hear from your keynote?

We’re revealing real world use cases and solutions that Financial Services has been missing. We’re excited to show cross-chain atomic swaps and delivery vs payment which powers capital markets and financial infrastructure globally.

Quant Network is a technology provider enabling trusted digital interaction, helping create a secure digital future to the benefit of enterprises, regulators, governments, and individuals. Recognised for having solved interoperability through the creation of the world’s first blockchain operating system Overledger, Quant Network is leading the way for innovation and blockchain adoption across enterprise. Headquartered in London, UK, Quant Network is committed to building an internet people can trust. www.quant.network

Register for FinTech Connect on 3–4 December at ExCeL, London.

Source: https://www.fintechconnect.com/blockchain/articles/fintech-connects-with-gilbert-verdian-ceo-and-founder-quant-network

Blockchain

Axie Infinity Records Holders ATH: 420% Year to Date Growth

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Popular non-fungible token (NFT) gaming platform Axie Infinity continues to see increased adoption from users, following exponential growth in the number of wallet addresses.

Axie Sees Surge in Address Holders

According to data provided by IntoTheBlock on Tuesday (September 28, 2021), Axie Infinity Shards (AXS) ownership is on the rise, with 17,480 address holders. This figure represents a new all-time high (ATH) and a 420% increase year-to-date (YTD). Meanwhile, this growth is indicative of the rising popularity of Axie Infinity and play-to-earn non-fungible token (NFT) gaming.

Back in July, CryptoPotato reported that the value of the AXS token skyrocketed nearly 400% within one month, leading to a market capitalization of over the $1 billion mark. Later in August, AXS was among the assets listed on the major cryptocurrency exchange Coinbase Pro, which also gave it an immediate boost.

Axis Infinity, developed by Sky Mavis and released in 2018, arguably popularised the play-to-earn trend and has recorded a number of impressive milestones in recent times. Data from DappRadar revealed that the project recorded over $2 billion in NFT sales volume, solidifying Axie’s place as the most valuable NFT collection, thereby surpassing major names such as CryptoPunks, Art Blocks, and NBA Top Shot.

The data also showed that more than 600,000 users traded Axis Infinity NFTs, resulting in 4,887,645 transactions. The project currently boasts over 1.5 million daily active users.


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According to Jeff Zirlin, co-founder of Axie Infinity, half of the platform’s users got to interact with cryptocurrency and blockchain for the first time through Axie, while 25% of them did not own a bank account.

The Growth of NFT Gaming

The NFT industry is becoming popular with celebrities, major sports leagues, and companies buying digital art in whatever form, or selling them. However, blockchain-based games are seeing a special kind of attention.

A report by DeFiPrime stated that the NFT Gaming market has a total market valuation of nearly $180 billion as of August 2021, with the value estimated to rise to $196 billion. An excerpt from the report reads:

“NFT games may have the potential to become the standard for the gaming market if it sees enough attention and popularity. Already they have made major changes to games and made it much more fun for players. From there, it could be a very major change to the way people play games and could be as major as Doom was to the market or 3D was for environments.”

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Source: https://cryptopotato.com/axie-infinity-records-holders-ath-420-year-to-date-growth/

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Blockchain

Bitcoin, Ethereum will draw their market strength from this key aspect

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Bitcoin and Ethereum are currently surviving a bearish scare, with both assets just about holding a position above their immediate supports. For Bitcoin, the $41,000-level is establishing a strong bounceback range while Ethereum has managed to remain above $3000.

On the contrary, some altcoins have recorded strong recoveries, with Solana, Bitcoin Cash, and Uniswap hiking by more than 10% in one 24-hour window.

Now, these altcoins seemed to have the relative edge at press time. However, there are a couple of key metrics which may allow us to evaluate the actual strength of Bitcoin, Ethereum as the market goes forward.

How much importance should be given to utility?

Source: Sanbase

Over the past few years, market stability has been dependent on different aspects. During the bullish rally of 2017, investor sentiment was key and when major traders started to become bearish, the digital assets collapsed.

Then, it was constructive institutional inflows at the beginning of 2019. At the time, it was suggested that institutions can allow tokens such as BTC, ETH to hold higher price positions. The price fell in 2020, irrespective of rising interest.

However, one key idea missed by most speculators might be the utility side of things, which is presently one of the most important functionality. Gone are the days when astute marketing allowed assets such as TRON to climb into the top-10.

Now, according to Santiment, Bitcoin has hit a two-month high in terms of circulation. What’s more, if the chart is closely observed, the average BTC transferred has risen consistently over the month of September.

Source: Sanbase

Similarly, Ethereum hit a similar feat but its 1-day circulation index was at a 3-month high, indicative of high token utility and movement.

Ethereum’s price has dropped sharply over the course of the past few weeks, but circulation has remained high.

Bitcoin, Ethereum spaces have evolved

Now, to be fair, it is important to account for volatility and the fact the circulation isn’t as high as it was during May 2021. However, maintaining a development and transaction-intensive ecosystem, one which allows the price to be built on strong foundations, is eventually advantageous.

Now, with respect to the assets that have grown over the past few days, besides BCH, both Solana and Uniswap are extremely utilized tokens. While one is the native token of a major DEX, another asset is currently responsible for bringing better L2 solutions.

Likewise, for Bitcoin and Ethereum, higher utility and circulation should keep the asset relevant, and progressively exhibit significant recoveries over Q4 of 2021.

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Source: https://ambcrypto.com/bitcoin-ethereum-will-draw-their-market-strength-from-this-key-aspect

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Swaps.app Offering Seamless Crypto Swaps With No KYC Process

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Swaps.app Offering Seamless Crypto Swaps With No KYC Process

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Swaps.app is simplifying how users are converting Bitcoin and other cryptocurrencies by eliminating the current barriers available in the market.

The EU-regulated company is changing how people swap cryptocurrencies for money with its “swap’n’Go” approach. The platform is a user-friendly space that allows anyone around the globe to effort conduct various trading activities.  

Swaps.app has various unique features. The platform notably offers low commissions and a faster transaction experience to its users compared to many other venues in the market.

Swaps.app offers the lowest fees in the industry while at the same time offering the best buying rates. Transactions performed on the Swaps.app employ price execution from top liquidity providers. In turn, this assures that Swaps.app customers get the best price possible for their purchase.

In addition, transactions on the platform take about 3 minutes. This is because there is no Know-Your-Customer (KYC) process and allows transactions to take three minutes to complete. This is a breath of fresh hair since the registration process associated with cryptocurrency exchanges is usually lengthy and cumbersome compared to most. The process has notably caused many people not to engage in cryptocurrency trade. 

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Another notable feature is that coins get to users’ digital wallets within 15 minutes of payment approval. Swaps.app has two currencies available for purchase, including Tether (USDT) and Bitcoin (BTC). Currently, the platform is accepting two payment methods, Visa and MasterCard debit and credit cards. Users can purchase varying amounts of cryptocurrencies up to €1,000 per month.

To merchants and developers, Swaps.app provides a convenient order widget that can be integrated into any webpage with just a few clicks.

In addition to being regulated by the authorities, Swaps.app integrates a full 3-DS V2 for safe and secure transactions. Reportedly, card purchases that use PCI DSS Level 1 certification will be authorized by code and verified by Visa or Mastercard ID Check.

Swaps.app is now available to over 160 plus countries and is available 24/7 throughout the year. The platform is owned and operated by Octo Liquidity, based in Tallinn, Estonia.

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Source: https://zycrypto.com/swaps-app-offering-seamless-crypto-swaps-with-no-kyc-process/

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