The blockchain technology which is mainly built on the Bitcoin and Ethereum networks has been used to create a lot of new innovations many of which has revolutionized so many standard industries in the world of today. From the I-Chain which has revolutionized the Insurance industry to Smart contracts which is the flavor of the moment in the legal world right now, the impacts of the blockchain technology is being felt and would continually be felt in the nearest future.
Although blockchain technology is breaking new grounds and warming its ways into the hearts of people, there are still few areas where there could be improvements. If these improvements come as expected, then we could expect much more ground breaking exploits from the blockchain technology in the near future. Some of these improvements which are expected include scalability, privacy issues, decentralization issues, etc.
In a bid to solve one of the pertinent issues that draws the blockchain technology back in Europe, two massive organizations formed a consortium in Amsterdam, Netherlands in August 2018 to tackle privacy issues in blockchain technology. The two firms are:
- Dusk Foundation, which is a not for profit blockchain research organization and also the leading firm in and coordinator of the European consortium working towards developing and implementing the Dusk network technology. The dusk network gives users a platform that promotes freedom using a blockchain technology and cryptocurrency that is based on privacy.
- Kryha, a project and management company responsible for developing blockchain based products. Kryha has worked with many reputable international corporations when it comes to developing blockchain products and are experienced in reconciling the gaps between blockchain and their demand with the regulations centered on transparency.
Together, these two reputable firms aim to solve issues regarding to privacy in the blockchain technology by using their joint resources and expertise. They also plan on pursuing further partnership with reputable firms from three other countries in achieving their goals.
An Exciting Partnership Between Two Firms
When two firms of enormous capabilities such as Kryha and Dusk foundation work together, the prospects of success are truly promising and exciting. This consortium is shown such promise already. After the consortium has been confirmed, Emmanuel Francioni who is the Project and Tech lead of Dusk foundation said,
‘‘At Dusk foundation, we are embarking on an exciting journey that will surely lead to a flourishing and committed consortium of blockchain-based development partners under the aegis of the European Union’’
Tobias Disse who is the CEO of Kryha on the other hand talked up how excited they are to work in the consortium with Dusk foundation and how they plan on lending their expertise to the Dusk network technology.
Undoubtedly, the partnership between these European super powers in the blockchain technology would bear the desired fruits and help in finally putting to bed the issue of privacy in the blockchain industry.
Visit https://dusk.network/
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