Concordium, a blockchain-based company, has announced its mainstream debut set for June 9, allowing any developer or user to access the Concordium platform.
After the launch, the company will offer the world first-time access to a safe, transparent, and regulated blockchain and cryptocurrency.
While commenting on Concordium going Mainstream, Lars Seier Christensen, Concordium’s chairman, stated:
“The time has come for the blockchain industry to respect the general rules of society. With the launch of Concordium Blockchain, the era of anonymity, opacity, and lack of transparency has come to an end.”
The Concordium Blockchain and its cryptocurrency, the GTU, have been under development for the last three years. One notable difference the Concordium platform brings to the table is that it offers previously unseen guarantees of governance and transparency without compromising user privacy.
The platform is all about providing “privacy, but not anonymity,” explained Lone Fonss Schroder, Concordium’s chief executive. On the Concordium platform, users are identifiable, and the provenance of every transaction is trackable. This creates trust for the users in addition to enabling them to meet the needs of global regulators. Notably, these identities can be made available in response to a valid request from a government authority via established legal channels.
Ms. Fonss Schroder explains:
“This is not just an image problem, and it’s far more serious. Global business is rules-based. The sooner the blockchain and crypto industry wakes up to the need to play by the rules, the sooner the full potential of blockchain will be realized. She added: “This is the tool that global businesses have been waiting for. This industry needs to realize that without trust and acceptance, there is nothing.”
Founded in 2018, Concordium is a privacy-focused, public, and permissionless blockchain architecture. The platform is a product of a non-Swiss Foundation backed by a select group of respected academics and industry veterans. Concordium Platform offers a global, multi-jurisdictional solution to the adoption of blockchain technologies across regulatory regimes.
Concordium’s innovative identity layer provides a compliance-centric balance between anonymity and accountability. The protocol is deeply rooted in the latest scientific research developed at the Concordium Blockchain Research Center Aarhus (COBRA) in Denmark and ETH Zurich in Switzerland.
Earlier this year, it successfully raised over $41 million from private and strategic sales. In the most recent evaluation, the platform was placed at about $4.45 billion.