The founder of Waves says that Asian markets are much friendlier for corporate blockchain adoption.
The new step of the popular altcoin
Waves Enterprise acquired Tokenomika Pte Ltd., a Singapore-based fintech company, as a hybrid public-private blockchain operator. Tokenomika will operate the Waves Enterprise general permits network from March.
The expansion comes as part of a strategy change for Waves Enterprise, with a greater focus on hybrid networks that can interface with public blockchains such as Ethereum.
In Gartner’s report titled “The Twitter cycle for blockchain”, the analytics firm predicts that the corporate world will gradually move from purely private networks to hybrid and even fully public options.
Waves Enterprise is investing in this area, focusing on building networks that can interface with the wider blockchain world, especially in the context of tokens. Waves founder Sasha Ivanov said:
“There are no fully functioning corporate or formal blockchain ecosystems yet; I can say that the market is still looking for a minimally viable ecosystem model. But in any case, you have to start with something small. This is the only way to create a sustainable ecosystem. ”
Ivanov said companies like Hedera Hashgraph have attempted to introduce a hybrid model, but he sees the offer from Waves more broadly. According to Ivanov, although market demand for hybrid solutions is still small, this could change over a three to five-year perspective. Meanwhile, the Singapore operator will focus on promoting ready-made products such as Waves’ blockchain voting platform.
Singapore and Waves
Singapore provides an excellent jurisdiction to advance Waves’ vision.
“Singapore has one of the most advanced crypto and blockchain regulations in the world,” said Sasha Ivanov, founder of Waves. It offers a neutral regime for the growth of crypto and digital asset transactions. All of this has allowed Singapore to emerge as the crypto center in Asia. Such a legal space is essential for creating next-generation ecosystems and disruptive economic models. ” using the expression.
According to Ivanov, Waves Enterprise’s hybrid model occupies a place that other projects have yet to fill. Its architecture is configurable and adaptable to local cryptography standards and has “language independent smart contracts”. The ability to implement custom cryptography has also been used by the Russian government in its recent blockchain e-voting pilot.