Algorand latest two Partnerships recap; Verady & Rhovit
Algorand relentless domination of the blockchain space with its two latest partnerships – Verady and RHOVIT. Algorand is a one-of-a-kind pure proof-of-stake blockchain protocol that allows developers to create scalable blockchain-native solutions for real-world use cases. Created by Turing Award-winner Silvio Micali, Algorand aims to remove friction from financial exchange and boost DeFi evolution by enabling the creation and transference of value, building new financial tools and services, bring assets on-chain, and provide responsible privacy models.
Verady provides cryptocurrency tax, accounting, and audit technology products through its “Ledgible” platform. Ledgible has several exciting product and service offerings, like its professional-grade accounting, which leverages blockchain technology to spur mainstream adoption.
Kell Canty, co-founder and CEO of Verady, said about Verday’s ambitions:
“Ledgible” platform. Ledgible has several exciting product and service offerings, like its professional-grade accounting, which leverages blockchain technology to spur mainstream adoption.
Algorand will leverage Ledgible for internal accounting and auditing. Ledgible will also integrate the ALGO tokens into its software to give all Algorand holders integrated accounting.
Speaking on the partnership, Algorand COO W.Sean Ford said:
”One of Algorand’s goals is to enable enterprises to easily embrace the opportunity that blockchain provides. Broadly applicable financial reporting tools like Ledgible Accounting further that goal. We’re excited to partner with Verady to not only account for our own assets, but to provide Ledgible Accounting to our partners who are helping to develop and grow the Algorand blockchain.”
RHOVIT is a Los Angeles-based, dual currency content platform that allows mining through micropayments made to content creators. It is currently in open beta and the full version of the RHOVIT Platform will release Q3 of 2020.
Matt McCullough, Co-Founder and CEO of RHOVIT said about the company’s vision:
“We are on a mission to scale RHOVIT as quickly as possible. Right now the world is facing economic hardship but one of the few bright spots has been content streaming. We offer a solution for viewers to make passive income while enjoying content and Algorand will help us deliver on that promise now and in the future.”
RHOVIT wants to build on Algorand to leverage its high-quality underlying tech and benefit from enterprise-grade scalability and tools. RHOVIT was originally built on the NEM protocol, but they will switch over their native “Rbit” token to Algorand soon. RHOVIT will also use Algorand to develop its own platform game extension RHOAM.
Sean Ford chimed in about the partnership:
“At Algorand, we provide technology that is scalable, secure, and decentralized to organizations building out inclusive and new economic models in their industries. We are excited that RHOVIT is taking a new approach to gaming and leveraging Algorand to scale its business.”
RHOVIT and Verady are both valuable partnerships for Algorand and it looks like everyone involved is going to be benefiting tremendously from it. Verady’s Ledgible platform brings in accounting and auditing while RHOVIT brings in more utility into the platform. It will be exciting to see what Algorand does next in the partnerships front.