Wanchain, the distributed financial infrastructure powered by cross-blockchain smart contracts with privacy protection, announced the deployment of their Mainnet at BTC Miami, the North American Bitcoin Conference that unites major industry parties from the crypto space.
Based on Ethereum’s codebase with Monero-style privacy protection and cross-chain capabilities, Wanchain’s vision is to rebuild the financial services industry using digital assets.
“Tokenization of assets is at its inflection point. With crypto currencies now worth over $700 billion, the digital economy is growing wildly, but there is a problem,” Wanchain founder Jack Lu said. “Digital assets are isolated in their respective blockchains. Wanchain is the first and only platform to unlock the real potential of global digital assets by placing them on a single blockchain. Mainnet is the fundamental first step towards the digital asset hub of tomorrow.”
“Digital assets will forever change the financial services industry,” Wanchain president Dustin Byington said. “When we digitized photographs, we saw soon thereafter the digitization of the camera itself when it became an application on your phone. Now that we have digitized assets, the next step is to digitize the banks themselves by building them as smart contract applications that run on Wanchain.”
Novel cross blockchain technology unites global blockchains and digital assets
Combining the world’s digital assets on one programmable blockchain enables future banking applications like decentralized exchanges, lending platforms and asset management tools to run as simple, smart contract applications on Wanchain.
Examples of verticals and use cases Wanchain will support:
- Decentralized exchanges
- Asset management tools
- Payments and lending applications
- Digital asset issuance (ICOs + security token offerings)
- Supply chain finance
- Digital asset index funds
- Digital asset derivatives
With the 1.0 Mainnet release, Wanchain will combine the smart contract functionality of Ethereum with Monero-style privacy protection. Wanchain 2.0 will launch Q3 2018 and incorporate cross-chain transactions with the Ethereum blockchain. Additional public and private blockchains will be connected throughout 2018 and 2019.