Posts tagged with "CW8 Communications"

Woman at Computer by Mina Tocalini for 360 Magazine

Aura SaaS

The Aura Blockchain Consortium, founded by LVMH, Prada Group, Cartier, part of Richemont, and OTB Group, is pleased to announce the launch of Aura SaaS, a game-changing cloud-based SaaS solution. The Aura Blockchain Consortium currently has more than 15 million digital tokens on their private, permission-based blockchain platform which offers both upstream and downstream traceability in the supply chain which is direct-to-consumer. 

The launch of Aura SaaS is the first blockchain-based platform designed for luxury brands to help the luxury industry to embrace the blockchain in their day-to-day business operations including supply chain, customer service, marketing, manufacturing, sustainability, purchasing, logistics, and legal. Aura SaaS will allow Aura member brands to quickly and easily onboard, maximizing value focusing on the customer journey and digital innovation and allowing for both upstream and downstream traceability in the supply chain for consumers–making it one of the best direct to consumer offerings in the market.

Aura SaaS is a no-code solution that allows for a quick and hassle-free implementation. There are also lower up-front costs, as Aura SaaS users benefit from lower license and onboarding fees. The launch of Aura SaaS will make Aura more accessible to luxury brands across the globe while strengthening the industry’s response to challenges such as counterfeiting and responsible sourcing. 

With Aura SaaS, brands can easily access the Aura Blockchain directly through APIs and connect them to their own IT systems and applications. Main functionalities include:

  • Smart contract generator: no coding skills needed
  • Products registered on the blockchain
  • Product events/rich content management
  • Product history
  • Product ownership acquisition & transfer

On top of the blockchain functionalities and APIs accessibility by luxury brands, Aura SaaS will offer various white-label front-end interfaces and web pages to easily write, read and display information from the Aura Blockchain–this will be fully customized to align with the UX of each brand, requiring no technical or blockchain expertise. These web pages can be also directly accessible by luxury clients. Aura SaaS helps luxury brands to address the following topics: authenticity, ownership, warranty, transparency, and traceability targeting both upstream use cases (e.g. raw material sourcing) and downstream use cases (e.g. digital certificates of ownership and authenticity certified on the Aura Blockchain, e-warranty, transfer of ownership, etc.)

Daniela Ott, Secretary General of Aura Blockchain Consortium, said of the launch: “Our ecosystem is growing on a daily basis and Aura’s solution covers the entire lifecycle of luxury production and consumption. Aura SaaS provides a game-changing toolbox for the luxury industry with an easy onboarding, minimum costs, and without the need to manage any Cloud infrastructure and deploying any instance, thus reducing the Time-to-Market to launch new blockchain use cases. This solution is meant to last and benefit the whole value chain. Given its accessible pricing, it is a solution suitable for luxury brands of any size, for most product categories within the luxury sphere.”

Alongside the Aura SaaS solution, the Aura Blockchain Consortium is also developing a suite of turnkey tools to accelerate route to market, with smaller brands in mind. These would include simple, ready-to-use front-end tools that can provide luxury consumers with a visualization of data on the blockchain. For example, brands could offer more transparency into their sustainability credentials by providing consumers with the ability to view the provenance of materials used in the manufacturing process. Such a solution is particularly attractive to brands yet to implement their own advanced front-end but keen to offer customers more insights and interactions.

Allison Christensen for use by 360 Magazine

CosenSys Rollups

ConsenSys, the leading Ethereum software company, announced the launch of ConsenSys Rollups, to provide enterprise-grade scalability to leading financial organizations, addressing the key use case of scalable applications on the Ethereum blockchain. ConsenSys leveraged the expertise of Mastercard’s engineering team to design the ConsenSys Rollups solution. 

The creativity of projects on Ethereum is exploding in areas such as decentralized finance (DeFi), non-fungible tokens (NFT), gaming, Web 3.0 and the metaverse. Ethereum’s usage is at an all-time-high, with the number of Ethereum addresses exceeding 177 million and tens of thousands more added each day. While high network usage indicates strong adoption, it also establishes a need for scalability and privacy-enhancing solutions. 

With this in mind, ConsenSys engaged Mastercard to co-develop key building blocks to make blockchain technology scalable on the Ethereum Mainnet or for private use, providing benefits for all stakeholders in the ecosystem. 

ConsenSys Rollups is an innovative modular software solution for permissioned blockchain applications focused on providing scalability and privacy capabilities that can be connected to any Ethereum Virtual Machine (EVM)-compatible blockchain. It can be used on the Ethereum Mainnet, or on private ConsenSys Quorum networks. ConsenSys Rollups leverage zero-knowledge (ZK) proofs to protect specific transaction elements, such as account balances, sender, recipient, and amount, to prevent this important transaction data from being shared publicly across the network – significantly enhancing the privacy and confidentiality of transactions. Zero-knowledge proof technologies enable one party to verify their knowledge of something to another party without having to convey the information itself. ZK proofs can then be used to verify and certify batches of transactions without having to execute them directly on the blockchain network. Solutions built with ConsenSys Rollups can currently achieve a throughput of up to 10,000 transactions per second (TPS) on a private chain while only 300 TPS can be achieved on private chains and 15 on the Ethereum Mainnet.

Programmability on zero-knowledge rollups is designed to enable additional functionalities in the future. Even higher transaction throughputs are expected to be possible through reliance on trusted parties for data availability.

“ConsenSys Rollups enables vastly more scalability in addition to strong privacy protections to both enhance solutions for existing use-cases and enable new use-cases. This innovative solution will help accelerate the building of the future of finance”, said Madeline Murray, Global Lead of Protocol Engineering at ConsenSys. 

ConsenSys Rollups will enable more types of blockchain use cases. By increasing scalability and confidentiality for asset transfers, ConsenSys Rollups enables the implementation of new, innovative use-cases including:

  • Central Bank Digital Currencies (CBDCs): CBDCs issuance on top of a ConsenSys Rollups powered Quorum network can provide scalability and privacy capabilities for digital currency transfers among central banks, commercial banks, and retail users. 
  • Decentralized Exchanges (DEXs): DEXs built with Rollups will bring scalability to Decentralized Finance (DeFi) and NFTs, and more use cases on Ethereum that need faster settlement but the security guarantees of Ethereum.
  • Micropayments: Micro payment applications that see users pay, for example, on a per-stream or per-view basis will require high throughput to properly function as large numbers of users interact with platforms and decentralized applications (dapps). Rollups on mainnet will allow Ethereum to scale to meet the demand of new Web3 economic paradigms without network congestion, high fees, or finality challenges.
  • Private transfer and taxes: ConsenSys Rollups open a new pattern for confidentiality on the Ethereum Mainnet, or on Quorum powered networks. With partially anonymous rollups, users can transfer or swap tokens and transact with partial anonymity. Use-cases that require auditability and transparency but also maintain user confidentiality will be enabled with rollup solutions. This could remove the next barrier to entry for more DeFi or cryptocurrency users on new services.

Raj Dhamodharan, Executive Vice President of Digital Assets and Blockchain Products and Partnerships at Mastercard says,We believe there is real potential in blockchain technology helping to solve real-world problems. We’re in the early stages but are starting to see efficiencies in how permissioned and private chain product constructs use open-source technologies. Our work with partners like ConsenSys will continue to advance this space.”

ConsenSys Rollups is compatible with all tokens that follow the ERC20 standard.

About Consensys

ConsenSys is the leading Ethereum software company. We enable developers, enterprises, and people worldwide to build next-generation applications, launch modern financial infrastructure, and access the decentralized web. Our product suite, composed of Infura, Quorum, Codefi, MetaMask, Truffle, Diligence and our NFT platform, serves millions of users, supports billions of blockchain-based queries for our clients, and has handled billions of dollars in digital assets. Ethereum is the largest programmable blockchain in the world, leading in business adoption, developer community, and DeFi activity. On this trusted, open-source foundation, we are building the digital economy of tomorrow. To explore our products and solutions, click HERE.