Leading blockchain protocols and application developers Constellation, COTI, ORBS, Wanchain, BXB Capital and Mido Play announced today the formation of the Scalable Protocol Alliance (SPA), a consortium of leading companies that are building next-generation Distributed Ledger Technologies (DLT) for business intelligence and real-world solutions. Relying on industry specialists, protocols and applications, SPA will focus on accelerating the adoption of DLT business applications and integrations across protocols.
“Scalability, stability, and security are all needed for the real world application of distributed ledger technology,” commented COTI CEO Shahaf Bar-Geffen. “COTI is pleased to be a part of the SPA alliance, which is working towards turning this mission into a reality to encourage the widespread adoption of crypto for everyday, mainstream use.”
DLT has emerged as a secure and scalable alternative to the current blockchain model, and part of the SPA mission is to raise awareness of the technology and address the skepticism that many have towards the blockchain and cryptocurrency industries.
“SPA will serve as a bridge towards real-world DLT implementation by conveying a message of stability, scalability, and accountability,” said Ben Jorgensen, CEO, Constellation. “We are using the technology to solve real-world problems, focusing on delivering enterprise-ready integrations across platforms capable of supporting consumer applications.”
Alongside this broader mission, the SPA consortium has set a number of specific goals in 2019: a cross-network integration, a shared application build, and protocol measurement whitepaper. These deliverables will be worked on across a series of quarterly seminars and working groups, consisting of the technical and business leads of each project.
“In order to reach mass consumer and enterprise adoption of blockchain, groups like SPA must collaborate to find the best solutions for the industry’s greatest challenges, including scalability and interoperability,”said Jack Lu, Founder, and CEO of Wanchain. “Wanchain is excited to join forces with the other companies in SPA. We look forward to technical shared learning across teams, integration and co-development opportunities, and dev-focused events.”
“Black Edge Capital recognizes that for crypto to be successful in the long term, scalability and interoperability are two major concerns that need to be addressed,” said Evan Hall, Founder of Black Edge Capital. “By joining the SPA, our primary goal is in the promotion of these objectives to the wider crypto community by collectively providing the necessary tools, resources and education that will help fuel mass adoption of crypto by the mainstream.”
For more information about SPA and its founding members, please visit scalableprotocols.com.
Official SPA Twitter account: https://twitter.com/SPA_Consortium
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