The team behind Overledger has been hard at work for quite some time now. The story actually begins back in 1998 when current CEO Gilbert Verdian came up with the vision for a secure network with the appropriate controls to allow for trust between users. Unfortunately, the technology to achieve his vision did not exist in 1998.
20 years later, Verdian still intends to deliver on his vision. He has teamed up with digital economist Paolo Tasca and technology innovator Colin Paterson at Quant Network. The three of them are dedicated to overcoming the modern-day limitations of the blockchain and unlocking its true potential.
The Overledger Vision:
- Create Overledger to enable interoperability of blockchains and existing networks
- Create an ecosystem of community and enterprise driven multi-chain applications and users
- Connect the Internet to Blockchain through Overledger.
The Overledger Approach
The Quant Network team prides themselves on taking a “Steve Jobsian-style approach” to blockcahins. Steve Jobs, who inspired all of us to dream bigger, is known for taking very complicated technologies and making them easier to use.
What Exactly is Overledger?
“Quant Network (QNT) is creating an Overledger – a cross-platform blockchain based operating system that facilitates the internet-scale development of the decentralized applications with multi-chain support.”
Overledger is a blockchain operating system designed to give blockchains the ability to interact with one another. It empowers applications to function across multiple blockchains. The team describes it as an “over layer” that sits on top of existing blockchains where applications can run. This would allow developers the ability to build multi-chain applications. If successful, this could lead to mass adoption of blockchain technology across public and private sectors.
Quant Network Overledger Website: Here
Whitepaper: Here
Why is This Significant?
Although Blockchain technology is all the rage these days, it does have major limitations. Overledger was designed to remove these limitations and unlock the true power of the technology.
Similar challenges were seen during the dawn of the internet prior to wide-scale adoption. The original creators of the internet were probably blown away by the vision of an “inter-connected” internet. If you are as old as I am then you might remember that the original internet was made up of closed commercial networks such as AOL or Compuserve. The internet as we know it today was achieved through interoperability.
Fast forward to today. Blockchain technology is the most promising thing we’ve seen since the internet. However, we are currently only creating closed blockchain networks that are being used in isolation of one another.
Sound familiar?
To truly understand the vision of Gilbert Verdian, Colin Paterson and Paolo Tasca, you need remember how the early internet evolved into what we know it as today. Blockchain technology is new, exciting, confusing, and amazing. It’s also important to remember that it is brand new. We are only at the very beginning of the journey and there will be future generations of growth and innovation.
What does Overledger mean for businesses?
- The flexibility to use all blockchains. Businesses won’t be limited to the technology of just one.
- Interact with brand new customers, markets, suppliers and vendors that are using other blockchains
- Improved ability to handle supply chain complexities.
- Spreading applications and data across chains will improve resilience and minimize risk.
Things I like about the Project:
Strong team with the necessary background to accomplish a vision as ambitious as Overledger. They have good links to Government and National agencies. The advisory board is also strong.
Quant Network is already showing a willingness and desire to create strong and meaningful partnerships. They have recently announced a partnership with the Accord Project.
This is not a flash in the pan ICO that was just thought up yesterday. The story began all the way back in 1998 and the current team has been working on Overledger since 2015.
Overledger simplifies rather than complicates. The required changes to exisiting systems in minimal.
The technology is developer friendly. Overledger will allow developers the freedom to focus on their DApps without the major compatibility concerns they have to worry about now. This could unlock a new wave of decentralized blockchain applications.
What’s Next for Overledger?
The Quant team will first focus on developing their blockchain operating system. After that they focus will shift towards launching their App Store where developers can add their multi-chain applications.
Roadmap Details
Q2 2018:
TrustTag first version release
Open Source SDK - Released v.01a
Q3 2018:
Quant SaaS Product release
Continue patent filing roadmap
File 3 supporting EU patents
File the 4 total patents in other jurisdictions
Q1 2019:
Quant App Store
Open Source SDK - Released v.01b
Q3 2019:
Quant Enterprise MApps
Treaty Contracts developed
Conclusion:
In order for mass-adoption of blockchain technology to become a reality, interoperability is critical. It is an ambitious task but I am confident in the Quant Network team to get it done.
The information provided in this article is not to be construed as financial advice in any shape or form. You are strongly advised to conduct your own research before investing. As an investor, you are solely responsible for your actions. I cannot be held liable for any losses you may make. This information is simply my view and opinion on the subject.
Username: Mark5w11