This is Part Two in the mini-series looking at Quant Network. You can see Part One here as well as links to other articles at the bottom of this post.
Quant Network have achieved incredible levels of adoption since launching Overledger less than a year ago. Their growth strategy is to partner with multinational global organisations with huge amounts of employees to then host / implement / take Overledger to each of their own clients. So one Partnership, leads to exponentially more and is the fastest way to scale rather than trying to partner with each customer individually. This is how companies such as Oracle grew so fast and Microsoft with their Partner Network.
“ These are multinational global organisations with 100,000 + employees, this is the scale that we are working towards to take Overledger to the mass market. We can’t do it one by one in each country and sign them up but we can partner with someone that has 100 customers and they can take it to all their customers as well which helps with the adoption of our technology” — Gilbert Verdian
Let’s start with arguably the biggest partnership for any Blockchain company listed on Coinmarketcap, the leading Financial Network Provider in Europe, SIA.
- Provide the leading Financial Network in Europe with more than 100 Tier 1 banks connected, 44 Trading venues (including the main international stock markets in Milan, Rome, London, Frankfurt and New York) and other financial institutions covering the entire trading process from pre-trading to post-trading
- process 14 Billion institutional services transactions, 7.2 billion card transactions, 3 billion payments, 51.7 billion financial transactions and carried 1,204 terabytes of data on the network
- SIA in partnership with Colt and SWIFT are the only two network providers awarded a 10 year tender commissioned by the European Central Bank for the provisioning of connectivity services allowing European central and commercial banks, central depositories, automated clearing houses and other payment service providers to connect directly to Eurosystem market infrastructures through a single access interface (Eurosystem Single Market Infrastructure Gateway — ESMIG).
- SIA’s SIAchain is the leading blockchain architecture in Europe connecting 570 Banks, Central Banks, Trading Venues and other Financial Institutions using R3’s Corda, Permissioned variants of Ethereum and Hyperledger Fabric.
- SIA have Integrated Overledger into the leading blockchain architecture in Europe SIAchain so that all of the 570 banks, Central Banks, Trading venues etc can benefit from Blockchain Interoperability.
“Since the European launch of our private infrastructure SIAchain, we are at the forefront of innovation in blockchain technology with the aim of supporting financial markets with a high-performance and secure architecture and a clear governance model. We actively continue on our path of innovation and the achievement of a fully interoperable blockchain network is the foremost objective we want to reach with the collaboration of Quant Network and its disruptive vision on DLT”, says Daniele Savarè, Innovation & Business Solutions Director, SIA.
To read more see my other article which goes into more details about SIA here
Quant Network are working with AX Trading to bring more digital assets, securities and tokenised assets to their existing 800 institutional traders in an already live and connected FINRA and SEC regulated exchange. AX Trading is not just about trading securities but other digital assets such as Bitcoin, Ethereum and potentially even Quant in the Future.
- an SEC-registered broker-dealer and Alternative Trading System (ATS) Operator. They are a member of FINRA and SIPC regulated authorities.
- Have investors and sponsored brokers such as Credit Suisse, (a multinational investment Bank and Financial services company worth $27.5 billion).
- AX currently have over 800 Institutional traders (these are not individuals, but corporations such as hedge funds, banks, investment banks, pension funds, insurance companies, endowment funds etc).
- AX Trading have also partnered with Euronext, the largest Stock Exchange in Europe with a market cap of $4.65 trillion as of 2018, in the creation of Euronext Block which utilises AX Trading.
- This is a multi-trillion dollar market with huge global enterprises, traditional exchanges and global banks are all adopting DLT at a rapid pace and going into production at scale in a matter of months
Overledger a blockchain operating system, will enable universal interoperability for regulatory-compliant security tokens and digital assets to be traded on AX ATS, a regulated secondary trading market. AX intends to integrate Overledger to help foster the evolution of traditional capital markets infrastructure to facilitate the mass implementation of regulated digital assets. With the increased market adoption of digital assets and banking “coins” such as JPMorgan Coin, AX and Quant Network are at the forefront to enable the transferability and movement of digital assets
George O’Krepkie, AX CEO said: “we look forward to partnering with Quant. Their technology will allow our blockchain agnostic security token exchange to communicate seamlessly with issuers, traders, investors, and regulators across different blockchain protocols. This is a key technological breakthrough that will help us bring the benefits of security tokens to Main Street and Wall Street.”
To read more see my other article which goes into more details about Wall Street 2.0: Enabled by Quant Network’s Partnership with SEC & FINRA registered AX Trading here
- Oracle are the second largest software company in the world, second only to Microsoft and worth $174.5 billion.
- Quant Network are an Oracle Fintech Partner. Oracle are jointly going to market with Quant Network and taking Overledger directly to their 480,000 clients globally.
- On the week commencing the 23rd September 2019 Quant Network and Oracle will be showcasing Overledger at the largest Financial event of the year SIBOS. SIBOS is a very exclusive financial services only event that only institutions that are connected to SWIFT can attend. The only 2 Blockchain firms attending are Quant Network and Ripple.
At Sibos 2019 Oracle is excited to feature 10 of our fintechs that have proven they are enterprise cloud ready and span a wide range of digital transformation themes including several available on Oracle’s Open Banking API ecosystem. Discover how you can accelerate your digital banking journey with a wide range of proven Oracle fintech solutions that meet the security, performance, and compliance needs for today’s Adaptive Bank — Oracle SIBOS 2019
Blockchain Enables Trustworthy Transactions
The potential uses of blockchain technologies are seemingly endless, from providing easy access to online payments to creating connected economies. But one of blockchain’s standout promises is to automate trust by providing an incorruptible platform for transactions. Quant’s Overledger is the world’s first blockchain operating system. It’s designed to provide any network in the world with a gateway to all other blockchains, and therefore enable companies to develop new solutions by incorporating features from multiple blockchain applications. — https://blogs.oracle.com/startup/innovation-pays%3a-the-five-fintech-startups-making-money-more-interesting
- Crowdz are the leading blockchain-based trade finance company
- Headed by Cisco’s former global supply-chain leader
- In business since 2014, with 270+ beta clients
- partnered with Barclaycard, part of Barclays Bank, to integrate into their payment solutions
- Recently received $5.5 million Series A Investment from Barclays Bank and BOLD Capital Partners, with additional investments coming from TFX Capital Partners, Techstars Ventures, and First Derivatives
- In talks with the Korean Government about using their tech.
Payson Johnston, President and CEO of Crowdz, a Silicon Valley trade-finance and financial-technology company, stated that, “Although Crowdz uses the Ethereum blockchain as the foundation for our Invoice Auction Exchange, we have needed a solution that allows for invoices and other documents to be transferred from one blockchain to another — for example, among Hyperledger, Corda, and EOS. With the Overledger solution from Quant Network, it is now possible to pass data among different blockchains. Crowdz looks forward to working with Quant Network to enable the true multi-blockchain environment that our customers demand.”
You can read more about the announcement here
AuCloud and UKCloud
- UKCloudX is the UK Sovereign High assurance cloud services designed for the UK’s most sensitive and mission critical systems from Defence, National Security to wider Government requirements.
- AUCloud is Australia’s sovereign cloud Infrastructure-as-a-Service (IaaS) provider, exclusively focused on the Australian Government (Federal, State and Local) and Critical National Industry (CNI) communities.
- AuCloud integrate Overledger onto the AUCloud platform to provide highly secure and interoperable Blockchain-as-a-Service for Australian Government and Defence and the critical national industries and supply chains that serve the nation.
Scott Wilkie, Director of AUCloud stated that Australian Government, Department of Defence and major industries are using or testing blockchain to interact with their supply chain, critical infrastructure, national record keeping and financial services. These organisations require the interoperable functionality that can only come with an operating system like Overledger and the security of the leading sovereign Australian cloud platform. Without Overledger, none of these projects or systems will be able to communicate with each other or enable cross party collaboration.
Brad Bastow, CTO AUCloud (previously CTO Department of the Prime Minster & Cabinet) stated that “applying world leading blockchain technologies to enhancing the cyber security of cloud IaaS and PaaS can significantly improve the ease of adoption and reduces risks for all government users and citizens. We aim to bring the most effective and assured technologies as-a-Service and Quant Network have some of the most advanced blockchain technology in the world in this respect.”
You can read more about the announcement here
- A Cloud-based, smart-contract-as-a-service (SCaas) platform. enabling users across a variety of skill sets to implement DAPPs.
- formed from a Defense Advanced Research Projects Agency (DARPA) grant in 2017 originally developed by ITAMCO and the University of Notre Dame
- Awarded a grant from the Department of Energy to develop a platform for a blockchain solution for the solar energy market.
- Their platform is available on Azure and are Microsoft Start Up Partners with a former Microsoft Global Exec Joining SIMBA Chain.
- Some of their other partnerships include the Government Blockchain Association, Air Force Research Laboratory, Caterpillar, SAP and EY
- Recently announced they are starting to develop on Quant Network’s Overledger to enable connection to all of the blockchains currently connected through Overledger and provide interoperability between them.
- an AI-powered decentralized investment and financing ecosystem, which allows corporates to quickly, cheaply and safely raise funds, whether it be equity, debt or tokens.
- Selected as 1 of 15 Best Early-Stage startups at Money 20/20, Europe’s Largest Finetech Conference.
- Joined Kickstart Innovation, one of Europe’s largest multi-corporate accelerators.
- Joined Level39 Europe’s largest Fintech Accelerator
- Partnered with Holochain, Elastos and Portugal Finlab
- have more than 35 years combined experience in capital markets at top investment banks (Goldman, JP Morgan, Barclays…) and more than 10 years in AI, IT and software development (Barclays, VINCI, PostNL…).
“AllianceBlock will use Overledger to leverage multiple blockchains and create multi-chains token swaps. This partnership offers the possibility to open a new set of real-world applications leveraging different features from different chains. AllianceBlock is delighted about this partnership which will help blockchain projects and SMEs wield blockchain technology very easily” said Rachid Ajaja, Co-founder of AllianceBlock.
Jiangsu Huaxin Blockchain Institute
- the first state-owned research hub dedicated to exploring blockchain technology for the Chinese Ministry of Commerce with over 100 employees.
- high-tech R & D institution backed by the provincial government in Jiangsu, the second highest GDP grossing province in China
- Backed by parent company Beijing Huaxin Electronics Enterprise Group, a conglomerate that has incubated and invested in numerous IT and telecommunications companies
- China’s official institution for blockchain development, signed an agreement to collaborate on the development of innovations like distributed computing and quantum cryptography to revolutionize the next generation of distributed ledger technology (DLT) protocols.
- Quant Network have signed a MoU for a 5 year cooperation
Atlantic Power Exchange
- An Early Stage start-up developing P2P energy software enabling automated trading of green and sustainable electricity over the blockchain
- Creating an Upstream Energy exchange which interconnects existing P2P exchanges (like PowerLedger, WePower, GridSingularity etc) to multiple stakeholders, suppliers and customers in Australia.
- All Built on Overledger
Managing Director of Rockefeller Capital Joins the Board of Quant Network
- Rockefeller Capital Management is a leading independent financial services firm led by President & Chief Executive Officer Gregory J. Fleming, offering global family office, wealth management, asset management and strategic advisory services to ultra-high-net-worth individuals, families, institutions and corporations
- Rockefeller Capital Management manages over $19 Billion in Assets with the aim of expanding this to $100 billion within 5 years.
Guy Dietrich, Managing Director, Rockefeller Capital commented:
“I’m delighted to join the Board of Quant Network. This is an exceptional team of experienced professionals in the cybersecurity and blockchain industry.”
Guy Dietrich recently personally attended meetings with the UK’s Financial Conduct Authority (FCA) with Gilbert.
International Organization for Standardization (ISO)
Gilbert Verdian is the founder of ISO TC 307, the global standard for Blockchain and Distributed Ledger Technologies which 55 countries are currently working towards. Gilbert is the chairman for the TC 307 Working Group for Interoperability of blockchain and distributed ledger technology systems
European’s Union INATBA
Quant Network is a founding member in the European Union’s launch of the International Association for Trusted Blockchain Applications (INATBA). Other members of INATBA include Accenture, Accord Project, Alastria,Banco Santander, BBVA, Consensys, Enterprise Ethereum Alliance, Fujitsu, IOTA, Ledger, SAP, SIA, Swift, Telefonica, We.Trade and many more. INATBA is a collaboration of 26 EU countries to develop EU blockchain regulation and prepare the launch of EU-wide blockchain applications
- Quant Network accepted as a company guarantor of Pay.UK, the UK’s largest payment network, alongside banks and other FinTech companies
- Through this relationship, Quant Network will shape the payment ecosystem to promote competition, innovation and openness, as well as setting the strategic direction of the Payments infrastructure and adopting the New Payments Architecture (NPA).
You can read more about it here and here
- consortium for blockchain innovation in the mobility industry. The consortium was founded by leading automakers including Renault, Ford, GM, and BMW, and now represents more than 80 percent of global auto manufacturing by volume. Other members include Bosch, IBM, Cognizant, Accenture, Consensys, IOTA, R3, VeChain, Hyperledger, Ocean Protocol and Honda (Full list can be seen here)
- Overledger operating system will enable interconnectivity and interoperability of data between manufacturers, devices, transportation and autonomous vehicles
- Quant Network has joined Hyperledger where more than 270 organisations are now contributing to the growth of Hyperledger’s open source distributed ledger frameworks and tools. Some of the companies involved are Accentrue, Airbus, American Express, Baidu, Cisco, Deutsche Bank, DTCC, Fujitsu, Hitachi, IBM, Intel, J.P.Morgan, SAP, BBVA, Bosch, Deloitte, Fedex, Huawei, Lenovo, NTT Data, Oracle, PWC, R3, Ripple, Samsung, We.trade, Bank of England, Enterprise Ethereum Alliance, Federal Reserve, MOBI etc. Full list of members can be seen here.
- Working with the Hyperledger Quilt team to enhance Blockchain Interoperability capability for Hyperledger members
- The Accord Project is the organization for the development of techno-legal standards for smart legal contracts and distributed ledger applications in the legal industry
- The Project operates in collaboration with IEEE, the International Association for Contract and Commercial Management, Hyperledger, R3, Decentralized Identity Foundation, and a number of leading trade associations, industry and standards organizations, and world leading law firms.
- Quant Network have joined the Accord Project and are providing the Technology with Overledger and Treaty Contracts.
As well as many being worked on and yet to be publicly announced:
- Indian Multinational IT Service and consulting company with offices in 44 countries and 137,000+ employees
- Among the top 20 largest publicly traded companies in India with a market cap of $18.7 Billion and revenue of $9 billion.
- Customers include 250 of the Fortune 500 and 650 of the Global 2000 companies.
we are really looking at ASIA, especially around Singapore, Hong Kong and we are working with partners to go there, just yesterday we had a meeting with a $8 billion company based in the ASIA region and they want to use Overledger for their clients and they are going to help us expand to that region, once we partner with the right bigger players
2 of the Big 4 Global Consultancy Firms are taking Quant Network’s Overledger to their clients.
The Big 4 Global Consultancy firms are huge and consist of Deloitte, PwC, EY and KPMG. They offer a range of services from offering consultancy advice on what to use, assisted prototyping right through to the delivery of production-ready enterprise solutions. Previously Gilbert was the Director of Cybersecurity at PwC and a Senior Manager of Security at EY plus Lara Verdian was the director for Deloitte Access Economics at Deloitte.
Quant Network are currently working with 2 of the above 4 global consultancy firms who are taking Overledger to their clients.
As well as many other consultancy firms:
- Quant are working the Government of Armenia in Health, futureproofing the eHealth Strategy with Blockchain
- Working with huge Conglomerates to establish a new consortium in Healthcare
They are also in talks with Traditional Exchanges such as the Swiss Stock Exchange SDX Platform and others as well as Large asset management firms
As well as various Governments including the Australian Treasury with DATA61 regarding open banking and consumer data rights, the UK’s HMRC, Central Banks, Global companies in Korea, Insurance Companies, Airlines and Logistic companies.
It’s truly remarkable what they have achieved in such a short space of time, working non-stop all around the globe, working with enormous Global organisations, Leading Financial Institutions, Governments and Health. Quant Network is enabling the mass adoption of Blockchain, bridging all blockchains and offchain networks together (as well as plans to connect directly to the Internet) to achieve the true potential of this revolutionary technology.
In the last article of this mini-series I will take a closer look at the tokenomics of the QNT token and why there isn’t another utility token with as much value as QNT. With a tiny total supply of just 14.6 million QNT tokens, with no inflation, Supply reducing further as tokens are taken out circulation with licensing and strong demand / usage for the token, as well as minimum QNT holdings for wallets to benefit from Universal Interoperability.