Swiss Cordata Association sets up international blockchain laboratory to support the development of cross-chain ecosystems
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.
News Source: MediaOutreach