Algorand partners with Reach, Dust and World Chess
Algorand’s organically scalable ecosystem has been lately attracting a lot of fruitful collaborations from various institutions. Companies like IDEX and AssetBlock have already collaborated with Algorand. Recently, as per multiple announcements, it looks like the company as acquired three more blockbuster partnerships. The partnerships in question are:
In this article, we will be independently looking into all these partnerships.
The Reach platform helps inexperienced developers to create decentralized applications (dApps) by removing the complexities of the blockchain. By abstracting away the complications and formally verifying the outputs of the dApp – Reach lets the developers know if their application is any good or not.
Reach recently announced their partnership with Algorand via a blog post:
“Algorand and Reach Platform have a shared vision for real-world application and adoption of blockchain through performance, developer enablement, and simple deployment for applications of the future. Together, the organizations will be working together to support efforts for faster and stronger blockchain development.”
This is great news for Algorand because it will attract many developers into its ecosystem. Reach can provide them with a sandbox within Algorand where they can safely try out their dApps without harming the ecosystem.
DUST (Diamond Unclonable Security Tag) utilizes nanoengineered diamonds to create an unclonable identity layer on any object. Built by a team of quantum physicians, nanotechnology, and cyber experts – DUST Identity is the only supply chain solution that ensures that trusted data and correct products are used and traced across their full lifecycle.
Algorand and DUST have partnered with each other to provide scalable and tested methods to authenticate physical objects and validate genuine transactions on the blockchain. Both Algorand and DUST Identity believe that the decentralization of global supply chains requires new secure, transparent, and robust authentication solutions. This partnership is looking to provide the answer to this puzzle.
Steven Kokinos, CEO at Algorand, said:
“A partnership between DUST Identity and Algorand brings together organizations focused on authenticity. A scalable blockchain merged with cutting edge security solutions will bring trust and verification in supply chain to new heights. I am excited to see DUST Identity leveraging these attributes of blockchain as part of their offerings.”
Peter Gillooly, Head of Strategic Partnerships at DUST Identity, said:
“There’s an inherent supply chain challenge when leveraging blockchain alone to provide the necessary transparency and authentication for tracking physical items. DUST Identity’s mission is to solve that challenge by creating a trusted binding for physical items and their digital identities. As we continue to broaden our partner ecosystem, we are excited to work with Algorand’s blockchain to offer commercial organizations more visibility and trust in their supply chains.”
In conjunction with World Chess, Algorand opened up the first-ever Museum of Blockchain in Hamburg, which ran from 5th November 2019 to 17th November 2019. This pop-up museum allowed visitors and participants of FIDE World Chess Grand Prix to learn more about the blockchain, cryptography, and Algorand.
World Chess is a London-based media company and the official broadcaster of the World Chess Federation events and a commercial partner of the World Chess Federation (FIDE). World Chess revolutionized chess by signing the biggest media partnerships in the history of chess. Algorand and World Chess became partners earlier in 2019. The partnership will allow Algorand to lend its technical expertise to add blockchain technology to chess and gaming in general.
Led by Turing award winner Silvio Micali, Algorand is one of the most promising projects in the crypto space. Algorand integrates ingenious cryptographic mechanisms such as the pure proof-of-stake algorithm that allows its platform to deliver high speed, security, and decentralization. These partnerships are signs of the fact that more and more companies – both in the crypto world and the “real” world – are understanding the true value proposition of Algorand.