DECENT, developer of an open-source blockchain ecosystem, has announced a partnership with TTC Protocol, an incentivizing protocol for social fueled communities, to work together on blockchain-based source code management system and community, git.eco. DECENT will be investing its development know-how and resources to build the platform while TTC Protocol will provide TReE (TTC Reward Engine) technology for a fair distribution of the reward to all developers on git.eco.
“We believe in the power of collective intelligence, that when more people are working for the same goal, it can generate a bigger and better impact for the world,” TTC Protocol CEO Brian Cheong said.
The expansion will see DECENT set up an office in Seoul and further work to promote its brand, services and technologies. The blockchain company chose Korea, as it plays a huge role in terms of recognition in the blockchain industry and represents a significant share of the cryptocurrency market.
Together, TTC Protocol and DECENT will work with companies that wish to enhance their businesses through the use of blockchain technology, and help companies who wish to develop models based on token economies. DECENT will also work with companies that wish to launch ICOs or reverse ICOs.
Those who wish to do business with DECENT and TTC Protocol must have a business idea that will extend DECENT’s core technology, DCore – a proprietary platform based on blockchain technology.
The partnership will also aim to improve the local and global brand recognition of DECENT. Korea is the perfect spot for the company as, with 20 per cent of the total volume of cryptocurrency market based in South Korea, it is a region that is enthusiastic about blockchain technology, the company said in a release.
DECENT and TTC Protocol will work together through the use of DECENT’s DCore technology to pursue practical partnerships to solve or improve existing business structures or profit models.
Currently, the Korean government – despite shutting down cryptocurrency exchanges – looks very favourable on blockchain technology and it is expected that the blockchain ecosystem there will only grow more prominent, the company added.
“We are in good hands, having chosen TTC Protocol to take our business model to the next level,” DECENT founder and CEO Matej Michalko said. “South Korea is an exciting country right now, and one which really understands blockchain technology. Seeking out opportunities here and growing as a company is something we are very excited about.”