Mid-Year Recap: List of Algorand (ALGO) Partnerships and Collaborations
Algorand is a pure proof-of-stake protocol created by Turing Award-winning cryptographer Silvio Micali. It allows developers to build scalable blockchain-native solutions for real-world use cases and aims to remove friction from financial exchange and boost DeFi adoption. Algorand has made a lot of noise over the last year because of the sheer number of high-value partnerships it has snapped up. In this article, let’s take a closer look at these partnerships.
AssetBlock will partner up with Algorand to bring in positive disruption to the real estate space by using the latter’s secure and scalable blockchain technology. They will do so by launching a tokenized investment platform on Algorand’s platform. In the near future, investors will be able to get a share in the properties in exchange of ALGO tokens.
Blockchain Education Network
Blockchain Education Network (BEN) aims to spur blockchain adoption by fostering a spirit of learning among individuals and companies. BEN will collaborate with Algorand in its mission to educate a growing community of blockchain enthusiasts.
Caratan will be building financial tools and products on the Algorand blockchain. It aims to promote fintech adoption at an institutional level.
Flipside Crypto studies crypto user behavior to drive growth in blockchain organizations. It partnered with Algorand to provide a dApp analytics toolset for developers. The toolset will allow Algorand developers to annotate their dapp addresses; monitor the number of active addresses, incoming transactions, and outgoing transactions; compare their dapp’s activity to other DApps, etc.
The International Blockchain Monetary Reserve (IBMR.io) aims to create new decentralized macroeconomic development structures that improve the conditions of the urban working class. IBMR has collaborated with Algorand to launch the Southeast Asia Microfinance Platform and the Asia Reserve Currency Coin (ARCC) on Algorand 2.0.
The tokenomics of the stablecoin has two major components:
- Increasing and preserving the liquidity of ARCC, via a licensed hedge fund.
- Enable people to earn ARCC by reporting various things like corruption, traffic jams, barriers to commerce, power outages, utility bills, etc.
International Swaps and Derivatives Association (ISDA)
The ISDA is tirelessly working to make the global derivatives markets safer and more efficient. In essence, it’s a trade organization of participants for OTC derivatives. By becoming a member of the ISDA, it will be able to expand the number of possible transaction classes through advanced financial instruments on the blockchain. ISDA-Algorand partnership allows financial organizations to create decentralized financial instruments with ease.
Monerium issues regulated e-money on blockchains. It aims to make digital currencies and blockchain technology mainstream by making them accessible, secure, and simple to transact online. Monerium plans on issuing a fully programmable and redeemable e-money on the Algorand protocol.
PlanetWatch is an environmental monitoring service and was the first blockchain company to spin out of the partnership by CERN. PlanetWatch is integrating the Algorand blockchain and IoT technologies to create the world’s first immutable air quality ledger. Algorand aims to capture crowd-sourced data regarding air pollution and store them on its ledger. Helpful data contributions will be rewarded with PLANET tokens.
PureStake provides blockchain infrastructure, APIs, and validator services of proof-of-stake networks like Algorand and Polkadot. They have released an API-as-a-service in partnership with Algorand. Developers who want to use this service can also communicate with each other through Algorand’s network.
Realio is a real estate private equity firm that offers end-to-end digital asset issuance and peer-to-peer trading platform. Realio launched an Algorand-powered token sale. Realio’s native RST token, which aims to be the first-ever hybrid security/utility token, has the following features:
- Offer ownership, profit-share, staking, voting, and governance rights.
- Designed for interoperability with other supported blockchains.
Republic will use the Algorand blockchain to build a digital security on top of it. Republic’s crowdfunding and private syndication arm have raised funds for over 170 startups in just three years, with around $67.5 million over the last year alone.
It is hoped that this partnership will bring about a sense of excitement and energy to the digital security space and introduce more people to Republic.
Runtime Verification design models for high-value application domains. It develops products and services that are focussed on the correctness and security of software systems. Algorand has collaborated with Runtime Verification to verify the correctness of its consensus mechanism. Along with that, Runtime Verification also verified Algorand’s safety guarantee and also mathematically proved that the Algorand blockchain could never fork.
SFB Technologies is a blockchain technology provider that will provide the infra for SOV – the Marshall Islands CBDC – in partnership with Algorand. SOV keeps its inflation in check by growing at a fixed rate of 4% annually.
Shyft Network is a public blockchain protocol that layers context to turn raw data into meaningful information. Algorand has partnered up with them to further the evolution of online trust applications. Shyft will act as a contextual identity layer on top of Algorand.
SIAE (Italian Society of Authors and Publishers) aims to:
- Explore potential disruptive technology.
- Bring in more efficiency and transparency into their operations.
- Partner up with major innovative companies.
SIAE has collaborated with Algorand to achieve these goals. The partnership will create copyright management tools and services.
Syncsort is a giant in big data software with over 7000 customers, including 84 Fortune 100 companies and has 800 employees worldwide. It organizes data everywhere to empower companies to extract value from it quickly. The Algorand-Syncsort partnership allows the latter to evaluate the potential of Algorand.
Tether (USDT) is the largest stablecoin in the world and it will soon go live on Algorand 2.0. Tether will use the ASA (Algorand Standard Asset) technology for different functions like – instant confirmation of transactions, performing micropayments, and automatic wallet support.
World Chess is a London-based media company and a commercial partner of the World Chess Federation (FIDE). Algorand has partnered with World Series to be an official partner of the FIDE Grand Prix series.
As you can see, Algorand has managed to partner up with some high-value companies/firms. With Algorand getting more and more mainstream exposure, it won’t be surprising to see them lock up even more high-value partnerships in the near future.