With the rising interest in both digital currencies and Central Bank Digital Currencies (CBDCs), platforms like Concordium offer a high-speed, scalable, and secure blockchain that can be trusted.
Bybit 9 key point overview:
- About Concordium
- The creators of Concordium
- Key features of Concordium
- Concordium Tokenomics
- How to buy GTU
- Top 3 GTU wallets
- What we like about Concordium
👉 A major shift in banking infrastructure could be the reason that banks need to start using innovative enterprise solutions like Concordium.
👉 Although blockchain is on the rise, corporate adoption of distributed ledger technology (DLT) has been slow because the systems are not compliant with regulatory requirements due to being anonymous.
👉 Given this fresh approach to blockchain technology that conforms to more rule-based global business demands, especially in regulatory compliance, Concordium aims to spark more widespread corporate endorsement with its network, while being fully regulated.
👉 Combined with a secure, high-throughput, low-cost architecture, services like data sharing, storage, and transaction management are capable of meeting the demands of enterprises, making it easier for businesses to adopt this technology.
👉 Concordium is the first non-permission-based public blockchain that international businesses can trust and is designed to be compliant with enterprise regulatory frameworks.
👉 Having close relationships with international companies like Volvo, Ikea, and Saxo Bank adds to the credibility of Concordium and gives it a competitive advantage in the market.
👉 Concordium recently launched its fourth testnet, and a mainnet release is due soon.
👉 This Zug-based platform utilizes zero-knowledge proofs to preserve user privacy while also offering the ability to revoke anonymity, which keeps regulators happy while protecting the identities and privacy of users.
👉 The platform utilizes smart contracts with use-cases in multiple sectors and industries, from IoT to supply chain.
👉 Concordium prioritizes scalability, security and decentralization to satisfy regulatory requirements and to enable trillions of blockchain-based business transactions.
The creators of Concordium
👉 Lars Seier Christensen is the Founder of the Swiss non-profit Concordium Foundation and has more than 30 years of experience across the banking and financial sector.
👉 He is a global pioneer in FX and derivatives trading and co-founded Saxo Bank in 1992, which is a regulated, bank-licensed online trading and investment platform.
Key features of Concordium
➡️️ Regulatory compliance by design
➡️️ Privacy and verification of the users’ identity
➡️️ Fast transactions and high throughput for global scale
➡️️ Provable and fast finality – Finality as a Service (FaaS)
➡️️ Future-proof and focused on interoperability
➡️️ White Label Production Architecture and Sharding
➡️️ Easy-to-deploy smart contracts
➡️️ Fixed transaction fees
👉 GTU is a Global Transaction Unit that is used on Concordium.
👉 It was designed by macroeconomists and currency-protocol experts.
👉 Its core objective is to create a self-sustaining payment model, aiming to provide enterprises with a fully compliant, scalable, usable and private payment token.
👉 It seems unclear whether GTU can be bought from any of the popular exchanges at this stage, but Concrdium plans to publish a list of supporting exchanges which will hopefully clarify the process of obtaining GTU tokens for individuals who are not minting.
👉 It seems that the only GTU wallet that is currently available is Concordium’s proprietary web-based wallet.
👉 A wallet can be created by navigating to the official Concordium website where a secure download link can be used.
👉 The Concordium desktop wallet can be used in combination with a Ledger Nano S hardware device to generate and store keys and sign transactions securely.
What we like about Concordium
👉 Concordium delivers a rule-based system that appeals to international enterprises, safeguarding their interests through increased transparency, improved governance, and guaranteed privacy.
👉 Concordium offers low and stable transaction fees in Euro terms, using a stabilized transaction price mechanism.
👉 New users are onboarded through a built-in user identification system at the protocol level, ensuring that an individual’s identity is confirmed, kept private, and verifiable in transactions.
👉 Users of Concordium can trust the identity of the people using the network and they can trust that Concordium will deliver all the capacity and security that they need.
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