In New York City at a major Blockchain conference held in bustling Times Square, it was announced that potential Blockchain giants, Aion, ICON Foundation and Wanchain would be joining forces. In Blockchain land, it’s not uncommon for specific projects to compliment each other for further expansion. Icon, which is based in Korea, is aiming to build one of the largest decentralized networks in the world. Aion is “A multi-tier blockchain system designed to address unsolved questions of scalability, privacy, and interoperability in blockchain networks” and Wanchain, seeking to create a new distributed financial infrastructure, connecting different blockchain networks together to exchange value. A lot of Blockchain investors were calling Wanchain the “Asian Ripple” and even calling ICON the “Korean NEO” which created massive hype and ultimately a very successful ICO (Initial Coin Offering). For those who are newer to Blockchain world, Ripple “connects banks, payment providers, digital asset exchanges and corporates via RippleNet to provide one frictionless experience to send money globally”. NEO is a Blockchain network similar to Ethereum and currently one of the top Blockchain projects in existence. It can be confusing to try and understand all of these different projects but keep in mind, many projects are launched by people from different nations, so we may see multiple projects doing the same thing but in different countries, like any other business.
The president of Wanchain Dustin Byington said “The Blockchain Interoperability Alliance will play a crucial role in increasing the connectivity of our digital assets and our lives.” Some of the features of Wanchain are Digital multi-currency payments and settlements, digital asset transactions, digital asset investing and financing, Cryptocurrency loans, a Cryptocurrency exchange, and a distributed cross-blockchain transaction mechanism.
“ICON already boasts communities comprised of reputable institutions – banks, securities, insurance, hospitals, universities, and more. ICON’s decentralized applications (DAPPs), including Blockchain ID and Payment & Exchange, can benefit current and future communities.” Another positive for investors about ICON is that they are partnering with a major bank in Korea and they have developed AI called ‘DAVinCI’. A this point, all of these projects are speculative. Investors are expecting to see results in December 2017 and January 2018. The roadmap ahead seems exciting, and we are all anticipating the growth of these 3 projects.