Source: Media Outreach
ZUG, SWITZERLAND – Media OutReach – 10 June 2020 – Recent years have seen countries continuously research and explore new information technologies such as big data, blockchain, and artificial intelligence. However, marketing and integration of these have become a problem in many countries.
International institution Cordata Academy (International Blockchain Lab) is a non-profit subsidiary of Cordata Association that’s committed to exploring these new technologies (big data, blockchain and artificial intelligence), proposing solutions for cross-chain issues involving blockchain.
Chaired by Mr. Urs Bolt, the mission of Cordata Academy (International Blockchain Laboratory) is to transform research into innovative applications that help small and medium enterprises (SMEs) overcome the challenges of digital transformation through the application of big data, blockchain, artificial intelligence, and other related technologies.
The academy’s research focuses on areas such as safe and efficient cross-chain technology, next-generation consensus algorithms, multi-party secure computing, homomorphic encryption technology, secure data sharing, and edge computing in the finance, supply chain, smart city, and e-commerce markets.
“We realize the development of new technologies such as big data, blockchain and AI is very important, governments and the public are actually very concerned about these new technologies. They value them and fear them at the same time. Take blockchain for example, governments of all countries are actively deploying this technology, but what’s happening now is a “balkanization”. “Balkanization” means that we have many blockchain ecosystems running on their own islands, and there is no data communication with compatible communication protocols or standards. Hence the need for “cross-chain technology”.”- Urs Bolt
Most current blockchain projects are isolated within their own varied ecosystems, hash algorithms, consensus mechanisms, communities, etc. Mr. Bolt believes it is necessary to connect the current fragmented blockchain systems to transfer information and business value between the various blockchains; If each blockchain project can break the “isolated” state and synchronize with each other, it will rapidly accelerate growth for these projects.
In order to solve this problem, research and development into providing faster, safer and more convenient cross-chain technical and business solutions are needed for consortium chains. Ideally, the development of a “cross-chain hub” with supporting mechanisms for the exchange of different encrypted token values will bridge different blockchain ecosystems so they may leverage on each other’s user traffic. Our collaboration with WOLOT Foundation of Singapore focuses on this aspect.
– Published and distributed with permission of Media-Outreach.com.