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The Power of Partnerships in the Blockchain Industry

Aug 31, 2021


Blockchain partnerships provide validated solutions for implementing blockchain technology and distributed ledger technology (DLT). Among other things, these partnerships ensure specialized use of blockchain and DLT to provide accountability, reliability, and security for multiparty processes and the automation of transactions. The root of blockchain lies in decentralization, immutability, and cryptography.  

Blockchain technology is commonly used to tackle two types of client needs, leveraging the power of decentralization, immutability, and cryptography. First, they relieve multiparty arrangements from relying on centralized authorities to keep a comprehensive and verifiable database of transactions. Second, they enable multiple parties to conduct autonomous, cryptographically secured, peer-to-peer transactions without the need for a formal, "trusted" intermediary.  

Consequently, blockchain technology is making our industries more efficient, transparent, autonomous, and secure while also restoring the control with business owners instead of centralized bodies of power such as governments or giant corporations. Against this backdrop, this article highlights some of the most significant partnerships within the Blockchain industry in recent times.    

● Blockchain partnerships are essential for a more transparent, efficient, and autonomous business ecosystem.

● Projects like Hyperledger, Ethereum, and Ripple, among others have been forwarding the cause of blockchain’s mass adoption through various partnerships.

● Global Digital Assets (GDA) is emerging as the most promising partnership choice for the new decade.

Famous Partnerships in the Blockchain Industry

HyperLedger

Launched in December 2015, HyperLedger is a blockchain-rooted, peer-to-peer collateral network. It offers a collaborative, shared, interoperable toolkit to create, transmit, and store verifiable digital credentials for initiatives and solutions. It is a global collaboration which is hosted by The Linux Foundation, including finance, banking, IoT, supply chain, manufacturing, and technology leaders.  

HyperLedger is an open-source collaborative effort between corporate organizations and businesses to support the development of blockchain technology. HyperLedger has over two hundred and fifty members up to date, including Accenture, IBM, Deloitte, Fujitsu, Hitachi, Huawei, Intel, Moscow Exchange, SAP, Samsung SDS, Xiaomi, Cisco, and more.

The goal of HyperLedger is to create a consortium to support the development of enterprise-grade and cross-industry applications, allowing them to use openly distributed ledger technologies. In essence, Hyperledger can be seen as an umbrella project that aims to provide the required infrastructure, protocols, and resources for building blockchain-based solutions that can successfully tackle the existing problems of interoperability and scalability.

Ethereum

Having popularized the concept of blockchain-based smart contracts, Ethereum's platform enables individual users and business owners to develop and deploy decentralized applications (DApps) with use cases across multiple industries. It is backed by a consortium known as the Ethereum Enterprise Alliance (EEA) and has over three hundred partners in its alliance.  

Since the platform's public release in July 2015, it has been joined by prominent industry names such as J.P. Morgan, Microsoft, Nuco, Banco Santander, Accenture, BlockApps, BNY Mellon, CME Group, ConsenSys, IC3, Intel,and many more.  

Moreover, following the EEA's inception in 2017, the consortium has added Deloitte, Samsung SDS, Mitsubishi UFJ, DTCC, Infosys, and the National Bank of Canada into their alliance. EEA aims to connect Fortune 500 companies, startups, and government institutions with Ethereum developers and experts.

Stellar

According to its website, Stellar "is a platform that connects banks, payments systems, and people." In doing so, it enables its partners to "move money quickly, reliably, and at almost no cost". Since the inception of Jed McCaleb and Joyce Kim's brainchild in 2014, the platform has processed over 450 million transactions and has over 4 million individual accounts.  

Over time, Stellar has collaborated with over 48 organizations, including SHIFT Markets, Lightyear, STRIPE, and Wanxiang Group. However, Stripe is Stellar's most exciting collaboration, with the payment system serving more than 100,000 businesses like OpenTable and Warby Parker.  

The continued implementation of the Stellar essential technologies is funded and driven by the Stellar Development Foundation, a U.S. based, non-profit organization. The Foundation helps to maintain the codebase of Stellar, serves engineering and business groups surrounding Stellar, and is a speaking advisor with regulators and organizations.

Ripple

Established in 2012, as a subsequent iteration of Ripplepay, Ripple has developed a decentralized payment system that surmounts other blockchains in mitigating speed and scalability challenges. Ripple aims at enterprise solutions for banks, payment providers, businesses, and digital asset exchanges, enabling all of these networks to operate on RippleNet with a fast and easy global payment network.  

Ripple is the leading initiative for partnering and establishing strategic partnerships with several banks worldwide, including the likes of CBW Bank, Commonwealth Bank of Australia, National Bank of Abu Dhabi (NBAD), Standard Chartered, National Australia Bank (NAB), Cross River Bank, Santander, UniCredit, UBS, ReiseBank, CIBC, Siam Commercial Bank, and Shanghai Huarui Bank.  

Ripple has also started to develop strong ties with payment processors, exchanges and remittance providers such as Western Union, concentrating on increasing banks' clientele.

Vechain

Vechain's official website points out their belief that "blockchain technology is a great foundation for the next IT generation, alongside emerging technologies such as AR, VR, AI, IoT, 5G and more."  

Being a Blockchain-as-a-Service (BaaS) platform, it primarily aims at enhancing supply chain management processes, streamlining these processes, enhancing their flow of information, and ultimately making them more transparent.  

Since 2015, Vechain has successfully teamed up with 24 companies, including Deloitte, Microsoft, Renault, Price water house Cooper, DB Schenker, TCL communication, China Unicom, BMW, and LV China. The project further formed a partnership with China's largest insurance company, People's Insurance Company of China  (PICC).  

Binance Coin  

Launched by Binance in 2017, one of the leading cryptocurrency exchanges and trading platforms, Binance coin has been developing and advancing. This investment conveys many benefits for those financial backers who use Binance as the essential platform for trading and exchanging crypto. This is because they can benefit from a broad scope of limits on exchange charges, exchanging expenses, thus substantially more. Furthermore, 2021 has been incredible for this coin as its worth shot up more than ever. Consequently, anticipating performing similarly significant or rather far superior in the coming years bodes well.  

Tether  

Tether is one of the best cryptocurrencies and a favourite venture for those financial backers who aren't willing to face any challenge. This is because Tether has been a steady cryptocurrency that principally targets keeping up with stable digital currency valuations across the market. Being evaluated at $1, Tether has grabbed attention from those financial backers who aren't willing to make hazardous speculations considering the instability of the cryptocurrency market. In the event that you have been very reluctant to put resources into the unpredictable cryptocurrency market, Tether is that one investment that you shouldn't pass up.  

Cardano  

Cardano – likewise alluded to as the 'green cryptocurrency' due to the deficient energy levels as against the levels devoured by the Bitcoin organization and the mining process, has seen a flood in its worth throughout some period. The increment in its worth during the most recent few months is a solid sign that the future would be similarly encouraging.

Dogecoin

After a shady past, this coin has reemerged on Elon Musk's moniker as the "Dodgemaster." Nobody expected this meme coin, made in 2013, to become legit, let alone be remembered for the top rundown of cryptocurrencies. DOGE, the coin that has ascended to prominence recently because of Elon Musk, is the least expensive digital currency to buy in 2021. Dogecoin is one of the cryptocurrencies that numerous investigators consider to be a practical investment alternative.  

The digital currency has been on a ride in recent months, returning more than 8000% so far in 2021. The disputable cryptocurrency has outperformed the Rs 50 mark, carrying its market capitalization to an untouched high of $80-billion.

Uniswap

Uniswap is an Ethereum-based DApp that empowers clients to exchange Ethereum tokens using liquidity pools. Uniswap has two principal administrations: delivering and using liquidity. Uniswap was released in the DeFi system, and the UNI coin was released in 2020. Hayden Adams, a previous Siemens mechanical engineer, established Uniswap on November 2, 2018. Utilizing smart contracts, the convention takes into account programmed transactions between cryptocurrency tokens on the Ethereum blockchain. However in its earliest stages on the lookout, the UNI coin has effectively arrived at significant achievements. It is presently one of the DeFi coins to enter the top race. However, since Uniswap was as of late positioned as the primary decentralized trade to enable margin and influence trading, market experts accept this cost is underneath its normal expected development.

Global Digital Assets — The Emerging Partner for the New Decade

GDA Capital is North America's first, vertically-integrated blockchain & digital asset-focused merchant bank with head offices in Toronto and New York City.  

In January 2020, the MLG Blockchain and Secure Digital Markets reached a formal agreement to launch their new joint venture — Global Digital Assets (GDA) Capital Corporation.  

They have also partnered with several companies ranging from family offices to HNWI, Fortune 100 firms, entrepreneurs, and global policymakers, as well as with pro-blockchain governments looking to promote the technology's acceptance in their countries.  

As per the project's official words, the "mission is to build next-generation decentralized applications using blockchains and smart contract technologies and to build digital assets that power the strongest networks of the world of tomorrow." 

GDA is flexing its far and wide reach with a solid and enduring base with promising new partnerships on the team. Entering the new decade, GDA is innovating in unusual solutions to significant pain points across industries. According to Mr. B A Barry, CEO and founder of the B A Barry Group, being highly adaptive and expansive, the platform is on track to become the preferred partnership choice, making businesses ready for the impending fourth industrial revolution. To leverage GDA's solutions and for extensive details visit https://babarry.com/ today!

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