I/O Digital Blockchain Wins European Fintech Awards
July 2014, the team of I/O Digital launched I/O Coin and their Proof of Stake Blockchain network. Since then the I/O Digital project has evolved enormously into a full service Blockchain developing project setting new standards in the Blockchain ecosystem.
After developing the basic side projects to support I/O Coin as a digital currency they started to think about the future of digital currency and the technology basics. As of October 2014, the team defined a new project called DIONS. DIONS and the ideas behind it would change the company focus completely. Basically DIONS represents “Data on the blockchain.”
Most digital currencies focus on new wallets, public adoption and functionalities based on the coin they launched instead of focussing on the technology – the blockchain. I/O Digital feels differently and acted on Blockchain development before it even was a buzzword in de industry.
Since then the team had full focus on delivering an outstanding, secure and fast Blockchain that can support “data.”
Focussing on blockchain development and making it possible to store data in a decentralized blockchain, opens up great opportunities. Think of storing copyrights in a de-central network or create arbitrary services that use this network. Large corporations, banks and institutions are investigating or actually investing in blockchain technology.
I/O Digital has the ultimate goal to have companies use Blockchain technology for their businesses to gain competitor advantage, synergy between services and operate with less costs or even add new services to their portfolio. The Blockchain software that I/O Digital is developing is open source and usable for everybody.
Chameleon - a Blockchain ecosystem
With a limitless range of potential applications, storing all of data in a single Blockchain – even one optimized for data storage such as I/O’s – wouldn’t be practical. So to make sure to have an infrastructure that can adapt and scale to accommodate all of the services it will come to support the team has created project “Chameleon.”
Developed over a twelve-month period, Chameleon I/O is a framework which will allow for the creation of any number of unique and interoperable I/O Digital sidechains. These auxiliary (private) Blockchains will each have unique properties suited to the particular set of services and applications that they will support.
Joel Bosh - CEO I/O Digital:
"This network of Blockchains, or 'superchain,' will afford unparalleled flexibility to users, allowing any number of configurations to be seamlessly adopted depending on the use case."
Winning FinTech awards and structuring for the future
Since January 2016 the I/O Digital project has got a lot of extra attention. Not only the industry starts to understand the value of Blockchain technology, but with winning the public award at the European FinTech Awards in the Blockchain category and making it to the finals in the Bending FinTech awards gave the team and the project a lot of traction and investor interest.
I/O Digital has been approached by venture capitalists, private entities, companies, investors, community members, that want to help grow and donate or even invest to the I/O Digital project. To accommodate this, the team has decided to form an official foundation for the open source developments of I/O Coin and it’s Blockchain.
Richard Groen - COO I/O Digital:
"During many of our meetings with companies and VC we quickly learned that we needed to have a more robust structure. We also had to have in place means for the future securing of the private keys. With setting up the foundation it will make it all possible. It also ensures that the I/O Coin blockchain will stay in the hands of our Non Profit organization."
Charity by default
The team and community of I/O Digital has a big heart for charity as well. Over the past 20 months they have donated more then $10.000 to different charities. With the foundation they wil continue to do so. 10% of every donation made to the foundation will be spent on charity and the community co-decides which charity will receive a donation.
I/O Digital has a great future ahead. The Blockchain technology that they are creating is one of a kind and will definitely have the interest from investors but also companies that want to use their own (private) Blockchain in the ecosystem they are creating. The team have full focus in setting new standards for adoption in the Blockchain industry.
More information about the project can be found on www.iodigital.io
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