[ad_1]
SEOUL, South Korea, November 19, 2020 / PRNewswire / – Blockchain Labs announced the launch of InfraBlockchain, highlighting its flexibility of implementation to provide both a stable public blockchain and a scalable blockchain with authorization. The announcement offers a promising prospect for building more blockchain-based services in the real world.
According to Blockchain Labs, InfraBlockchain’s patented consensus mechanism allows the network to be designed as an authorized blockchain for internal use, a consortium blockchain for limited group uses, or a completely public blockchain that openly invites anyone to participate. Furthermore, due to its consensus mechanism, InfraBlockchain supports a flexible transition from one network project to another, even after the network is up and running. In order to solve the inborn problem of blockchain technology of all publicly recorded and shared data, InfraBlockchain also offers a selective anonymity feature that securely protects sensitive data, such as personal information, while maintaining the level of data integrity that only blockchain technology can provide. Above all, InfraBlockchain was designed from the start not to involve any cryptocurrency (such as Bitcoin, Ethereum, Ripple, etc.). This is celebratory news for many public sectors and businesses, interested in blockchain technology but concerned about the regulatory and accounting issues traditionally related to cryptocurrencies.
Since 2016, Blockchain Labs has been providing blockchain solutions to many services, including Yosemite Card (a fee-free payment service for UC Berkeley students and local businesses in Berkeley, California), Godivart (an online art exchange platform) and Comake (blockchain-based eContract service), to make the new technology more widely accepted and used. However, recognizing the limitations of existing technologies, Blockchain Labs has developed their own InfraBlockchain to address the technical issues that have hindered the mass adoption of the blockchain.
Conrad Um, the CEO of Blockchain Labs, commented: “Blockchain technology has many characteristics similar to those of our company’s infrastructure, such as roads and power grids. To build such an underlying service platform that can benefit the infinite number of users, it would take an initial investment of time, money and social consensus before we can see the effectiveness of the technology. However, just as other infrastructures do in our society, InfraBlockchain will bring great benefits to companies and organizations across all sectors, starting with the reduction of database management costs “.
Recently, Blockchain Labs was selected as a blockchain partner for the new South Korean National Government project to develop a blockchain-based management and tracking system for a medical hemp production. Having already provided the blockchain solution for the RV sharing platform for Seoul City earlier this year, Blockchain Labs looks to continue its expansion to bring more blockchain-based services.
ABOUT BLOCKCHAIN LABS
Blockchain Labs – based in Seoul, South Korea – is a parent company of Californiabased on Yosemite X, and helps customers around the world reinvigorate existing products or enhance new business offerings using its patented blockchain technology. For more information on Blockchain Labs, visit infrablockchain.com
Contact with the media:
Bryan Jin
[email protected]
SOURCE Blockchain Labs
.[ad_2]Source link
