​Year in review

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Our CEO Gilbert Verdian reflects on 2021’s achievements and looks ahead to significant plans for next year and beyond. 

London, 17 December 2021- As I look back at this year full of exciting steps closer to our goal of unlocking the power of blockchain for everyone, I realise that our successes come from a fertile combination of experienced people, breakthrough technology and global collaboration. 

Expertise 

Our amazing team has grown by 43%. Adding even more experienced and talented business, product, and engineering specialists to our business units and supported by world-class operations professionals in functions like HR, legal and marketing. 

I rely on a team of seasoned executives with financial and technology corporate backgrounds and we’re fortunate to be guided by a strong Board - including Neil Smit, Vice Chairman of Comcast

Technology 

Development on our suite of solutions, products and networks continued apace this year. In January, we launched Overledger 1.5, taking us into full live production. Then in May, we announced the full release of version 2.0, working as a Universal Translator for enterprise and enabling our community of developers and users to benefit from using a simple and standard interface to access all supported DLTs – including Ethereum, XRP, and Bitcoin Mainnets. We set the standard in blockchain technology, rapidly releasing updates and milestones every 2 weeks which is attune to capable companies like Google. 

This was followed in September by the 2021 technology milestone I’m most proud of: the launch of Overledger Network. Since launching our testbed network in 2020, we have listened to our community and taken on board their recommendations. As a result, we created an architecture that’s more robust, scalable, and user friendly. 

Collaboration 

We are fortunate to work with some of the most accomplished and well connected partners in the financial industry. Our joining the Digital Pound Foundation this year is a case in point. We share the foundation’s conviction that a digital Pound will be the first step in creating a digital infrastructure that will underpin the next generation of the UK’s economy and society. 

Our belief in the power of central bank digital currencies was also the drive behind our partnership with regulated trading platform LCX announced in April. By collaborating on research and development and integrating our respective technologies, we expect to make significant strides toward the implementation and settlement of CBDCs. 

Another hugely promising partnership is the work we began with LACChain, a global alliance led by the Inter-American Development Bank’s IDB Lab. By providing secure and seamless interoperability, we’re supporting LACChain in driving the growth and development of the blockchain ecosystem in Latin America and the Caribbean. And – just last month – our work with Oracle culminated in Overledger being certified to deliver interoperability for the Oracle Blockchain Platform. We’re now collaborating closely to roll out cross-ledger production-ready solutions for clients and sectors.

Plans for 2022 

Next year promises to be just as busy as 2021. We have exciting plans that I’m looking forward to sharing with you. They include broadening our suite of solutions, bolstering our product and network layers and forging some new partnerships with enormous potential. 

Thank you 

Neither the future we envision nor the milestones we have already achieved would be possible without some truly remarkable people. So, I’d like to conclude by thanking the team here at Quant who show up every day with a fierce determination to deliver extraordinary work, the growing army of clever, innovative developers building solutions of their own on our network, and finally the partners helping us unlock the power of blockchain for financial institutions and large companies worldwide. 

We’ve achieved a great deal, and yet I feel we’re only just getting started… 

Feature

Overledger 2.x

Overledger 1.x

Authentication

OAuth 2.0 standard (allowing SSO)

Proprietary (BPI Keys)

Functionality

In API, seamless updates

In SDK, re-download for updates

Standardisation

Full abstraction across all DLTs

Partial, DLT-specific edge cases

RCG Framework

REST / JSON APIs from OVL Core

Proprietary P2P (experimental)

Time to Deploy

32 minutes (CI / CD pipelines)

1-2 weeks

QNT Utility Token / Treasury

Optimised, audited smart contracts

Experimental smart contracts

Microservices

Optimised to scale fast – 23 Microservices

Hardened proof of concept
– 9 Microservices

Transaction Routing Algorithm

6 factor, game theory optimised

Experimental P2P emergent

Databases

Cloud native (scaling / resilience)

Standalone DB deployments

Cross-DLT Implementation

REST API calls direct to OVL, integrated smart contract back end

SDK-based Javascript 
apps call smart contract functions
via OVL

2021 Achievements

50% Quant team has grown by over 50% and will continue to do so 

OVL1.0 to 2.0 Release schedule accelerated, moved to much more frequent automated updates
– Previously, last major update was seven months, then in early 2021 moved to three months (Jan and March)
and then to monthly (April and May). We’re now moving to fortnightly releases. 

2.5X Overledger is now 2.5x bigger (April)  

2.0 Re-engineered the entire 2.0 architecture

Open API 3.0 for easy integration into developer workflows

OAuth 2.0 for single sign on for enterprise customers    

Cloud Native Scalable and resilient already, now deployable automatically 

New OVN API 
Subscribe  
Native Transactions 
Payments     

OVL 2.0 Developer portal 2.0