NeuroChain Expands and Delivers
With the scheduled release date of the main NeuroNet is just around the corner, NeuroChain is progressing considerably by forming key partnerships and expanding their global presence. NeuroChain is led by Frédéric Goujon, CEO, and Dr. Billal Chouli, CTO, and is supported by a team of dedicated advisors and industry experts who are working to develop the NeuroChain protocol and prepare for its imminent launch. The NeuroChain headquarters, located on Avenue des Champs-Élysées in Paris, France, is at the forefront of the next generation of the blockchain. Apparent issues with the current state of the blockchain have prompted the innovation of the NeuroChain protocol.
“The current generation of blockchain still has three major issues,” Bruno Delahaye, the company’s Chief Growth Officer, explains in an interview. The current blockchain consumes too much energy, takes too long to validate transactions, and has limited agility or scalability. “It’s now time to come out with a new generation” Delahaye continues “by integrating artificial intelligence and machine learning to recreate the way blockchain is deployed and implemented.” The NeuroChain protocol will consume less energy, validate transactions nearly instantaneously, and be scalable to work across world-wide systems.
The Current Market Situation
It is a well-known fact that the crypto market is filled with uncertainty and volatility. The sudden 65% drop in the price of Ethereum two weeks ago has investors scrambling for answers. However, the current downward trend in token prices is not necessarily a negative sign, Delahaye points out. The price drop is the way that the market naturally cleanses itself from undisciplined companies and companies that do not present value to investors. Companies who have inappropriately dispensed ICO funds will suffer, while companies who have demonstrated financial discipline will persevere through this temporary downturn.
NeuroChain’s Chief Financial Officer, Guillaume Bailly, has taken a disciplined, strategic approach since the beginning. NeuroChain’s current financial model accounts for market volatility, and the company is still on track to deliver value to its clients. In accordance with the company’s whitepaper, which lays out a clear, achievable roadmap, NeuroChain plans to release the first test net in October to power initial business applications. The NeuroNet is still planned in January 2019. Furthermore, NeuroChain’s ongoing business development efforts have resulted in two new partnerships.
Tai Cloud Corporation
Tai Cloud Corporation Technology Co. Ltd. is a major Chinese-based organization promoting the blockchain throughout Asia and Africa, and it has strong relationships with municipal governments throughout the People’s Republic of China. Since the overall power and utility of the NeuroChain protocol is derived from the large number of nodes connected to the system, partnering with Tai Cloud Corp. is a strategic move aimed at expanding NeuroChain’s presence in Asia. The chairman of Tai Cloud Corporation, Mr. Deng, who was also the head of the China Blockchain delegation in DAVOS 2018, stated:
Blockchain can bring the most urgently needed information infrastructure and industrial transformation to upgrade the Chinese economy. The biggest application area of blockchain in China is to rebuild trust and traceability with smart applications. They can greatly reduce transaction costs, improve the efficiency of business operations, and enable Chinese-made brands to access world markets. The Cooperation with NeuroChain will expand the standards and the nodes available to scale faster.
There is currently a lack of supply chain transparency affecting China and throughout the world. Suppliers are falsifying the origin of products to mark up the price. By simply changing out the tags and claiming that the product was imported from a more prestigious location, retailers double the cost of fraudulent goods. The end consumer is often fooled and has no way of authenticating the product’s origin. Tai Cloud Corp. has developed blockchain use cases to address the supply chain traceability issue. NeuroChain will team with Tai Cloud Corp. to make these use cases a reality.
One of the problems with the current blockchain is that it is not scalable and is unable to easily interact with different blockchain protocols. Since Tai Cloud Corp. does not run on the same blockchain protocol as NeuroChain, the NeuroChain protocol will be interoperable and able to work with other protocols. By combining data from several different blockchains, the NeuroChain protocol will be able to validate data with greater certainty than the Ethereum protocol.
Morpheus Labs is a full stack Blockchain-Platform-as-a-Service (BPaaS) for enterprises and will allow NeuroChain to be quickly deployed at the heart of their clients’ systems. Morpheus Labs provides blockchain platforms to businesses and offers blockchain applications to be applied to their client’s systems. As a result, NeuroChain will be able to offer its NeuroNet in the marketplace following its launch in January. Additionally, companies will be able to easily prototype NeuroChain-based applications to validate use cases.
Morpheus Labs Director and Co-Founder, Mr. Branson Lee, stated:
“With the adoption of NeuroChain, we are building highly scalable blockchain platforms and applications to support the entire ecosystem in blockchain era, to resolve complex real-world issues while serving enterprises and government sectors across regions.”
The NeuroChain protocol is scalable, Delahaye explains, Morpheus Labs will quickly deploy the NeuroChain protocol and enable the protocol to scale between businesses. This will ultimately create a competitive advantage as NeuroChain will be one of the first blockchains to facilitate business-to-business systems.
Despite the volatile market, it is evident that the NeuroChain team is on track – forming strategic partnerships, and expanding its influence to Asia. The alliance with Tai Cloud Corp. secures NeuroChain’s expansion into Asia and Africa and demonstrates the interoperability of the NeuroNet. By partnering with Morpheus Labs, NeuroChain will be easily deployable in business systems. NeuroChain is projected to launch the test-net in October 2018, followed by the main NeuroNet in January 2019.
Featured image courtesy of Shutterstock.