Transaction Volume UP, Regulatory Tailwinds and New Enterprise Users



Happy May GOrillas!

Here’s the latest update on what’s going on in the GoChain ecosystem, what companies have started using GoChain and some transaction stats.

We’re seeing an uptick in enterprise customers coming on board and along with that the transaction volume on GoChain is steadily increasing.

Transaction volume

There’s been a marked increase in transaction volume this year and we expect it to continue as more enterprise customers come online.

Just last week we saw these transaction numbers:

  • Total transactions: 22,948,675
  • Last 7 days: 151,547
  • Last 24 Hours: 32,703

Very positive sign of things to come.

Remember, all the gas fees for all transactions on GoChain get burned so the GO supply decreases the more it is used.

Regulatory Tailwinds — EUDR

EUDR is a European wide regulation to prevent deforestation by only allowing “deforestation-free” products into Europe. This will affect every European country AND any company wanting to sell wood products into Europe.

The rules are in place to guarantee that the products EU citizens consume do not contribute to deforestation or forest degradation worldwide.

Being a green blockchain from day 1 (it was one of our 3 defining principles and goals), GoChain is in a prime position to offer blockchain infrastructure to companies that will have to adhere to the EUDR regulations. And that is a lot of companies.

Also, with our partnership with Chainparency who provide a solution for companies to adhere to EUDR regulations, there will be more of those companies using GoChain as well.

New companies using GoChain

GoChain is increasingly becoming a blockchain of choice for visionary organizations and enterprises globally pursuing sustainability and environmental goals. Below are examples of such leading enterprises leveraging the GoChain blockchain protocol.

Wakefield BioChar

“There is a fundamental need for credibility and transparency of the materials used in the products we all use in our daily lives. It’s a privilege to support the GoChain Foundation and its value to the supply chain. ” — Tom Marrero, President of Wakefield. “

Wakefield BioChar, an innovative manufacturer of renewable products made from wood biomass, is the latest enterprise to join the GoChain Network as a node signer. Wakefield, which was already leveraging the GoChain blockchain to help validate its biochar product claims and for GHG accounting purposes, opted to also become a node in order to play a bigger role in supporting the ecosystem. Now that’s skin in the game! Looking ahead, we expect to see more and more organizations like Wakefield that will not only utilize blockchain in day-to-day enterprise operations but also play a role in the governance of the network.

Wakefield BioChar — Better Soil. Better World

Gear Hugger

Gear Hugger produces a revolutionary line of plant-powered products that are designed for the eco garage with bio-based alternatives to toxins that deliver superior performance without harming the planet.

They are using blockchain both for proof of provenance and for their certifications.

Here’s their blockchain page where you can see their real certificates and the route of their products, all traced on GoChain.

Gear Hugger

Thompson Appalachian Hardwoods

Manufacturing the finest Appalachian hardwood products for more than 25 years, TAP Hardwoods is the source for top-quality lumber and logs. TAH is using GoChain to create an auditable blockchain record of the provenance and origination of their wood. This information will be used for both consumer information and EUDR compliance.

Thompson Appalachian Hardwoods | Quality Forest Products

GoChain is poised for long term success

We believe GoChain is in the right place at the right time, right now. They say timing is everything and the time is now for blockchain and GoChain in particular. Being an enterprise focused blockchain with a very low carbon footprint and regulatory tailwinds pushing companies in our direction, we’re poised to be the go to blockchain infrastructure for enterprise.