Two key players in the DeFi space, Wanchain and 0Chain, announced a strategic partnership that aims to advance the decentralized vision of the two companies. Through this partnership, both DeFi platforms hope to integrate enterprise-grade decentralized storage into multiple chains with the highest privacy and security protection.
The official announcement follows the latest statement that the Chinese State Grid Corporation is integrating Wanchain technology to automate and upgrade the national data management system.
Wanchain Vice President of Business Development and Operations Li Ni commented on the partnership:
0Chain’s standalone centralization approach is a perfect philosophical fit for Wanchain. Together we will unlock the full potential of true DeFi.
Both 0Chain and Wanchain aim to work securely across blockchains and summarized the scope of the partnership as follows:
0Chain will launch and operate a Wanchain Storeman node, starting with the fifth Storeman Group. 0Chain’s Storeman node is the first step towards bringing 0Chain’s decentralized storage to WanChain’s users and customer group.
Wanchain and 0Chain will create and provide initial liquidity for a WAN / ZCN pair in DEX Wanswap, a community-managed cross-chain. This will be added to the existing WASP / ZCN pair recently added to WanSwap.
Wanchain and 0Chain will jointly determine the feasibility of integrating 0Chain’s decentralized and distributed storage technology into Wanchain’s cross-chain infrastructure.
Interoperability has been the focus of many projects in the DeFi space, has emerged as a way to ensure the smooth processing of data, and has allowed multiple blockchains to communicate with each other. One of the most important players in the DeFi field is Polkadot, which demonstrates that it provides interoperability for financial transactions as well as computation and data transfer. Wanchain has so far focused on the financial industries, but has increasingly collaborated with various industries to cater to a wide range of applications.
The mission of the 0Chain platform is to provide decentralized storage solutions to multiple chains by eliminating commercial threats such as censorship, confidentiality obligation and data breach.
0Chain Operations Director Mo Siam commented on the future of DeFi:
We predict that the next wave in DeFi will be a wave that unlocks values from data sets; and the interoperability and decentralized storage networks that underpin this wave will be highly efficient and flexible enough to compete with officials on functionality, compatibility and cost; nevertheless, it will retain and retain data ownership and control in a secure and verifiable manner in the hands of its real owners, who create, produce or buy.