Fidelity’s Center for Applied Technology Recognizes the Verus Protocol with Its ‘Inspiration Award’
Earlier this month in Ireland, Dogpatch and FCAT hosted Future Horizons, a new TED Talk style event designed to ignite emerging ideas and propel Fidelity into the future. The Verus Protocol was selected as 1 of 7 finalists invited to present at the event after Fidelity and Dogpatch conducted a deep analysis of over 200 disruptors from every corner of Europe under the themes ‘Future Money & Assets’, ‘Web3’, ‘Post-Pandemic Impacts’ and ‘Zero Interfaces’.
Michael Toutonghi, the lead developer of the Verus Protocol, presented an overview of the Verus Protocol and how it creates an opportunity for people to collaborate worldwide in ways that haven’t been possible before. He outlined the founding purpose of The Verus Protocol and how it’s designed to enable a truly decentralized, people-powered protocol that can be used by any person, community, organization, or government to power their economy as part of a much larger worldwide network of economies.
The growing Verus community was excited to have Fidelity and Dogpatch recognize the innovation of these efforts, which have been fully functional on the Verus testnet and are being prepared by contributors across the community for our imminent mainnet upgrade.
The Verus Protocol, currently testing and preparing its Public Blockchains as a Service (PBaaS) upgrade for mainnet release, emerged as the only community-driven, public infrastructure protocol to appear in the final seven finalists for the Future Horizons event. The Verus PBaaS upgrade will extend the Verus mainnet protocol, which currently features the first and only core primitive of a revocable, recoverable and provable yet private identity and peer to peer marketplace technology adding a decentralized, multi-chain, multi-currency protocol for launching currencies, independent and connected blockchains, and performing fully decentralized, on chain exchanges of currencies, IDs, legal contracts, and more.
History of The Verus Protocol
The Verus Protocol went live on its mainnet, which is a public, decentralized blockchain, in 2018 with a vision of Public Blockchains as a Service (PBaaS) powering scalable, autochains and applications through staking and mining, as outlined in the Verus Vision paper. The Protocol launched with no ICO, no preallocation of funds, and no development fee, or middlemen built into the protocol. The worldwide community built the Verus Protocol to offer both transparent and zero knowledge privacy, and as an improvement to the Bitcoin consensus algorithm, a more ecologically efficient consensus protocol. Verus was the first and is still the only blockchain protocol with self-sovereign, revocable, recoverable, and interoperable addresses and privacy enhanced identities built into the core.
Any individual, project, organization or community needing an easy to use, reliable, decentralized, rent-free currency or fundraising platform, voting network, automated accounting system, self-sovereign, revocable/recoverable identity, or governance model can connect to the Verus Internet of Value and get started without programming. Solutions that used to take weeks or longer to design and code with programmers can now be done by domain experts, better, faster and more securely than before.
With the Verus’s Protocol, challenges of today can be naturally solved by scaling-out as needed, whether requirements call for centralized corporate, open government, or fully decentralized applications. In addition to this new solution, disruptive even among modern blockchains, the open, community-driven model enables Verus to be the first and only credibly neutral, rent-free, decentralized financial network.
Consensus 2022
The Verus Protocol will be on display in booth 242 at the upcoming Consensus 2022 that takes place in Austin, Texas June 9 — June 12. Get a 25 percent discount on your Consensus 2022 ticket if you join the Discord channel, and ask for the discount code in #marketing.
Written by Michele, a Verus Community Member
