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The blockchain solution for the challenges of the 21st century

The blockchain solution for the challenges of the 21st century

DELIVERING ON THE PROMISE OF BLOCKCHAIN

Blockchain is a monumental innovation embedding much more potential than just being a host for cryptocurrencies. It promises to deliver where the internet failed: democratising business rather than building monopolies, including the unbanked in economic opportunities, providing security, trust and transparency while boosting economic development. Despite of these major opportunities, we have not seen any successful large scale integrated blockchain implementations. The reason for this can be narrowed down to the following five challenges that have remained unsolved as of yet.

iov42 has solved the challenges to finally deliver on the promise of blockchain

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Scalability

Since current consensus mechanisms require blockchain to verify a transaction, the total number of transactions is extremely limited. At iov42, we scale blockchain like the internet. Nodes scale out to data centres with unlimited storage and speed, enabling a minimum of 20,000 trx/sec per region with instant settlement.

Usability

iov42’s blockchain is designed for enterprise readiness. Our open APIs allow organisations around the world to create their applications, for any use case.

Interoperability

Today’s permissioned blockchain technologies create silos. iov42 enables global interoperability between blockchains through its „Network of Networks“ architecture and supports interconnectivity with all major existing standards and blockchain / DLT systems.
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Regulation

Current blockchain platforms are heavily challenged by regulators. iov42’s „Multi-Blockchain Architecture“ allows for adoption of local laws and regulations.

Energy efficiency

Current public blockchain system’s immense energy consumption is prohibitive for their broad adoption. At iov42, a novel consensus algorithm enables high performance with low energy consumption.
Having addressed these key challenges, iov42 has set out on a mission to build the global blockchain operating platform for businesses, governments and organisations. Following two years of development, we have released parts of our platform and started working with a select group of partners for our initial products: identity solutions and regulated and unregulated exchange platforms.

In the second quarter of 2019, we will be ready to introduce our full stack iov42 blockchain platform. Thereby, we will enable enterprises, governments, service providers, independent software vendors, leading system integrators and consultants to run and operate all types of use cases and applications on our platform.

We are on a mission to deliver on the promise of blockchain. If you would like to dive deeper into the world of iov42 and discover how you could benefit from a cooperation with us,
GET IN TOUCH WITH US HERE.

OUR BLOCKCHAIN BELIEFS

Building on the existing regulatory framework

We believe that there is no need for new regulations to match blockchain as a novel technology, but rather that blockchain technology has to be created to fit existing regulations. Globally available blockchains are incapable of complying with differences in regional legislation. Within our Network of Networks architecture, regions are physically separate blockchain networks that can be configured to match local regulatory compliance requirements and therefore allow for an elegant adoption of local laws and regulations.

Establishing a platform around identities

We believe that in order to be able to combine public and private blockchains while ensuring full data ownership and security, a blockchain platform has to be built around identities. While most existing blockchain platforms are built around cryptocurrencies, at iov42, each participant in our network must be registered through an identity which is authorised by its own unique cryptographic keys. This forms an identity centric ecosystem supporting multi-assets.

Breaking free from technological debt

We believe that existing orthodox notions about blockchain have been holding back the development of the technology. In order to achieve true progress, it is necessary to break free from technological debt and therefore, we have independently created a system from scratch.

Creating a new blockchain category

We believe that open-source blockchain and tools existing today do not present a long-term solution for global trustful digital transactions. Currently, we see libertarian community-owned and available systems like Bitcoin versus orthodox private-permissive technology. We believe the gap, between those two extremes, makes up the unexplored blockchain market potential. In order to be able to fill this gap we have come up with a managed public permissive blockchain solution as a service.

Scaling blockchain like the Internet

We believe that in order for blockchain technology to be universally applicable by all industries it needs to be able to scale like the internet scales. Our development from ground up, not following the heritage of traditional blockchain concepts, resulted in a fresh software stack that is built to scale like the internet itself in terms of speed, latency and storage capacities. Global scalability is achieved through a highly efficient and open ecosystem.

Ensuring trust through regulated transparency

We believe that regulated transparency is the key to authentic and universal trust in blockchain technology. iov42 provides technology as a platform that blockchain applications can be run on. We anticipate significant regulatory endorsement, as iov42 blockchains provide transparency, KYCed participants, flexible regulatory configuration, and reporting. This is a major USP compared to traditional blockchain systems. Any application on the iov42 platform will benefit from these attributes and those applications that are currently being blocked by regulation finally have the potential of becoming endorsed once ported onto iov42.

Taking care of the environment

We believe that blockchain technology can change the world for the better without harming the environment, therefore our novel consensus mechanism is focused on low energy consumption. By combining our consensus algorithm Distributed Random Master Election (DRME) and data protection algorithm Hauberk we are replacing the energy-hungry Proof-of-Work. This is the first known working replacement, since many experts still doubt that other replacements e.g. Proof-of-Stake might ever work.

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Address

iov42 Limited
The Gherkin
30 St. Mary Axe
London EC3A 8BF

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