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THE blockchain revolution is struggling. The much-vaunted technology behind bitcoin promises to enable trusted transactions without intermediaries, so why have the overwhelming majority of new blockchain projects failed? One problem is that there is no longer a single blockchain: the past few years have seen an explosion of different proprietary versions.

Now a London start-up is adding yet another to the pile – but unlike its predecessors, this one is meant to connect them all. The creators of this meta-blockchain think it could restart the blockchain revolution.

Over the past few years, groups from governments to supermarkets have tried to make good on the promise of the blockchain. A real estate start-up recently completed the first home purchase on the blockchain and US supermarket Walmart is beginning to use it to verify the provenance of its groceries.

Last month, science and technology magazine New Scientist covered the Overledger project in a story titled, "The Blockchain to Fix All Blockchains." The story emphasizes the need for data interoperability technology across different blockchains that could play a role similar to TCP/IP, which enabled the internet to thrive.

London-based Quant Network has created cross-blockchain data interoperability technology, dubbed Overledger.

Last month, science and technology magazine New Scientist covered the Overledger project in a story titled, “The Blockchain to Fix All Blockchains.” The story emphasizes the need for data interoperability technology across different blockchains that could play a role similar to TCP/IP, which enabled the internet to thrive.

“[Overledger] seems to be a straightforward extension of the original atomic swap idea,” said Cornell University cryptocurrency expert Emin Gun Sirer, as reported by New Scientist. But instead of only supporting currencies as atomic swaps do, the Overledger works for any data that can be put on the blockchain.

Last month, science and technology magazine New Scientist covered the Overledger project in a story titled, "The Blockchain to Fix All Blockchains." The story emphasizes the need for data interoperability technology across different blockchains that could play a role similar to TCP/IP, which enabled the internet to thrive.

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Quant Network unveils Whitepaper for Overledger – the first blockchain operating system that facilitates the development of multi-chain applications

By | Media
  • Overledger to address major limitations of single-chain technology – lack of interoperability; single ledger dependence, and increase risk to business
  • Overledger is the only platform that facilitates internet-scale development of decentralized, multi-chain applications
  • Quant Network team to host a one-hour live Online Engagement event for investors and developers on Wednesday 21 Feb 2pm GMT to crowd source feedback from valued stakeholders

Quant Network – London-based technology start-up – this week unveiled the first iteration of its highly anticipated Overledger Whitepaper 0.1 that outlines their plan for developing the blockchain operating system that will address major limitations of single-ledger technology including interoperability and single-ledger dependence.

Not since the internet itself has a technology shown such promise and elicited such excitement than blockchain technology. While the potential of blockchain technology might seem endless – there are certain limitations.

“One of the major limitations of current single-ledger technology that Overledger will address is the inability of blockchains to communicate and working with one another otherwise known as interoperability,” explained Gilbert Verdian, Quant Network CEO and founder of the Blockchain ISO Standard TC307. “In order to unlock the true potential of blockchain technology, we need to enable seamless communication across multiple blockchains as well as the recognition of transaction across blockchains.”

The Overledger Whitepaper V0.1 outlines an innovative solution to the problem of single-ledger dependency with the new Overledger technology which can be applied for the design, deployment and execution of multi-chain applications.

“Enabling the development build multi-chain applications will be a true game-changer for blockchain technology,” said Colin Paterson, Quant Network CTO and co-founder.

“It signals a new era of increased security, privacy, and efficiency of data that will not only empower businesses but offer individuals a level of control over their personal data that we’ve not yet experienced.”

“Overledger is an agnostic platform that connects the world’s networks to blockchains and ensures you’re not limited to any single a vendor or technology,” explained Quant Network, Chief Strategist, Paolo Tasca. “This unlocks exciting opportunities for businesses by giving them the flexibility to expand and migrate to new technologies; increase their resilience by operating across different technologies and manage ledger fees.”

The team also announced they will be kicking-off a monthly, hour-long online engagement events where they will open the floor to feedback, new ideas and suggestions from investors and developers on Wednesdays 21 February 2018 2PM GMT via Facebook Live .

The Overledger operating systems has been designed over the last 12 months by the Quant Network team composed of industry experts – Colin Paterson, Gilbert Verdian and Paolo Tasca.

The whitepaper was the result a year-long effort by the team who joined forces in 2016 to bring their vision of the blockchain operating system of the future to life. Their combined expertise and in-depth knowledge of this space is unparalleled.

  • CEO – Gilbert Verdian has been working in Cybersecurity for 20 years at CIO/CTO/CISO level in Financial Services, Governments, Consulting and Industry. He’s also the founder of the Blockchain ISO Standard TC307 where 40 countries are working together to develop the Standard.
  • Chief Strategist – Paolo Tasca heads up the world’s largest Blockchain Centre at UCL, The Centre of Blockchain Technologies and is a Digital Economist with an economics background in central banks
  • CTO – Colin Paterson is a technology innovator with a 20 year background in Information, Cybersecurity and AI working in Financial Services, Government and Industry.

The team at Quant is committed to collaborating and forming strategic partnerships that address the challenges that hinder the potential of blockchain technology.  As such they have recently joined the Accord Project well as formed a partnership with the HUW Humberg University to address the evolution of smart contracts to cross-chain contract treaties which are key, as we move away of single-ledger dependency.

To learn more about Quant visit www.quant.network or join our Telegram community http://telegram.quant.network

END RELEASE

ABOUT OVERLEDGER:

We’ve been hard at work on the idea for Overledger for a long time now.

Quant Network CEO & Co-Founder Gilbert Verdian joined forces in 2016 with leading experts – technology innovator Colin Paterson and digital economist Dr. Paolo Tasca to form an unparalleled team who share vision and are dedicated to developing the block chain operating system of the future that provides a secure network with appropriate levels of controls which allowed for levels of trust between parties and entities.

Vision:

  • Create Overledger to enable interoperability of blockchains and existing networks
  • Create an ecosystem of community and enterprise driven multi-chain applications and users
  • Connect the Internet to Blockchain through Overledger

We’re excited on what the future holds and what we can create together. The end state is the ability to facilitate human-to-human and machine-to-machine trust to transact with each other securely and safely.

CONTACTS:

Media: Loucineh Mardirossian

E: [email protected]

P: +61476288180

[email protected]

 

Quant Network announces new cross-chain treaty contracts partnership with HAW Hamburg University at Unlock 2018, Dubai

By | Media

Quant Network announces new cross-chain treaty contracts partnership with HAW Hamburg University at Unlock 2018, Dubai

  • This follows on from partnership with the Accord Project international working groups dedicated to establish standardisation of smart contracts 
  • Quant Network team edge closer to their highly anticipated blockchain operating system – Overledger. 

Monday 15 January 2018, 9AM GMT  

Quant Network – international, innovation technology company – today announced a new partnership with HAW Hamburg University to create the framework of cross-chain treaty contracts to be launched in conjunction with their highly anticipated blockchain operating system, Overledger. 

This also follows on from the Quant Network team also joining the Accord Project’s international working groups dedicated to establishing standardisation, of smart contracts or using Overledger. 

“One of the principles of Overledger is to foster innovation by creating true multi-chain applications and this partnership with HAW Hamburg University will ensure we will help us achieve this,” said Quant CEO and co-founder and founder of ISO Standard TC307, the Blockchain ISO Standard, Gilbert Verdian.

A major limitation of modern-day blockchain technology that both Verdian and co-founder, Executive Director, UCL Centre for Blockchain Technologies, Dr. Paolo Tasca, identified early on has been the limitation of smart contracts to be recognised on multiple blockchains. 

“We asked ourselves – why a smart contract executed on Ethereum can’t be recognized by the Hyperledger blockchain? Additionally why can’t the smart contract include code executed on other blockchains as part of its process?” explained Tasca at the Unlock 2018 conference in Dubai.

“The answer didn’t easily present itself and any comparisons made to existing UK and EU contract laws and regulations for cross-border transactions proved futile as most revert back to a local law or court. However, we were able to draw parallels from more international conventions or treaties such Berne Convention of 1886 for the protection of literary and artistic works.”

Executing smart contracts across multiple block-chains is a complex challenge and explains why Verdian and Tasca prefer the term ‘Treaty Contracts’ in place of smart contracts. The complexity and challenges are also why the team have partnered with Prof. Dr.Ing.Volker Skwarek from HAW Hamburg University to not only create the framework of cross-chain Treaty contracts to be part of Overledger but to empower blockchains with an algorithmic constitution which supports legal frameworks in contractual agreements.

The underlying operating system of Overledger will allow the transferability, recognition and execution of smart contracts from one blockchain to another. The Overledger operating systems has been designed during the last 12 months by the Quant Network team composed of Colin Paterson, Gaetano Mondelli, Gilbert Verdian and Paolo Tasca.

The technical white paper will be release to the public in January 2018.

To learn more about Quant visit www.quant.network or join our Telegram community http://t.me/quantnetwork

 

END RELEASE

ABOUT OVERLEDGER:

We’ve been hard at work on the idea for Overledger for a long time now.

Quant Network CEO & Co-Founder Gilbert Verdian joined forces in 2016 with leading experts – technology innovator Colin Paterson and digital economist Dr. Paolo Tasca to form an unparalleled team who share vision and are dedicated to developing the block chain operating system of the future that provides a secure network with appropriate levels of controls which allowed for levels of trust between parties and entities.

Vision:

  • Create Overledger to enable interoperability of blockchains and existing networks
  • Create an ecosystem of community and enterprise driven multi-chain applications and users
  • Connect the Internet to Blockchain through Overledger

We’re excited on what the future holds and what we can create together. The end state is the ability to facilitate human-to-human and machine-to-machine trust to transact with each other securely and safely.

CONTACTS:

Media: Loucineh Mardirossian

E: [email protected]

P: +61476288180

[email protected]