Speaking at the European Blockchain Convention Virtual 2020, Gilbert Verdian, CEO and founder of the Quant Network, made a big announcement. He shared that the team will collaborate with the Massachusetts Institute of Technology. The team will be working on a Multi-DLT protocol along with MIT Media Lab’s Digital Currency Initiative. It was the biggest news of the day for Quant Network!
According to Gilbert, the protocol being developed along with MIT will act as a bridge between multiple distributed ledger platforms. Therefore, it will play a pivotal role in establishing interoperability. Furthermore, the protocol will be published with the International Engineering Task Force (IETF) as a Request For Comments (RFC). IETF is a body that defines standard Internet operating protocols such as the TCP/IP protocol.
Since its inception, Quant Network has been aiming to build a hyperconnected network of blockchains. To address the interoperability gap, it rolled out Overledger. This is an operating system that connects blockchains. Furthermore, it also offers mApps to connect the traditional network to the blockchain.
The collaboration with MIT will expedite Quant’s aim to achieve interoperability. Along with that, it will help set standards for the same. Addressing the panelists at EBCV 2020, Gilbert Verdian emphasized that it’s important to collaborate and contribute to keep moving ahead.
— Jeff (@BornQuamfy) September 23, 2020
Partnered with SWIFT-organized event
Quant Network has partnered with the world’s premier financial services event, Sibos. SWIFT organizes this financial event. Precisely, it connects close to 8,000 executives, thought leaders, and decision-makers across the industry. Quant joins big giants like Accenture, AWS, Bank of America, Deutsche Bank, Infosys, and more as a Sibos partner.
Mayor of London honors
Business London selected Quant Network to join Cohort 17 of the Mayor’s International Business Programme. This 12-month program will provide world-class support to Quant Network. Furthermore, it will help Quant Network achieve international success. Along with that, the program might bring live leads from territories like North America, Europe, China, and India to Quant Network.
Scale evolution of CBDC
At EBCV, Gilbert Verdian also shared that phenomenal progress is being made in Central Bank Digital Currencies (CBDC) across the globe. According to him, 2021 might see the evolution and birth of CBDCs at scale. To support the same, Quant Network is working to standardize interoperable CBDCs.
Quant Network has also been discussing CBDCs with The Federal Reserve Bank of Boston (Boston Fed).
Great discussion today on our work, Digital Assets and #CBDC.
Here’s a recent paper from the Fed highlighting their thinking https://t.co/Q8NNPpUk7E
Watch this space! pic.twitter.com/ti00VWouHU
— Gilbert Verdian (@gverdian) January 27, 2020
In the month of September, MIT DCI started helping the Boston Fed to build a CBDC. Furthermore, the CBDC can be scaled for consumer use. There could be a possibility that with the MIT DCI collaboration, Quant might also help Boston Fed in its CBDC initiative.
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