Singapore, Singapore , May 17, 2022 (GLOBE NEWSWIRE) -- As part of its network buildout and project expansion, Rubix has entered into a partnership with Assets International to stimulate application development on the Rubix Proofchain and promote both institutional and private adoption of the Rubix network in a multitude of industry verticals.
Rubix uses an innovative protocol called “Proofchains” and introduces the concept of “Proof of Pledge” that, together, address network challenges pertaining to scale, cost, and privacy that restrict the efficacy of other blockchains (such as the Bitcoin and Ethereum blockchains) for powering real-world commerce at a significant scale on a decentralized network.
Rubix Partners with Assets International
“Today’s leading blockchains do not support the scale, speed, or cost needed to power transactions and commerce at a global level,” according to KC Reddy, the Founder/Chief Architect of Rubix. “With the rapid expansion of blockchain-based solutions in everything from healthcare and gaming to real estate and finance, Rubix was designed to overcome those issues. We are pleased to partner with Assets International to bring the Rubix chain to new institutional players in a wide range of industries and are excited about the new narrative that our developers, partners, and users are writing in the blockchain space.”
The Rubix network is built on a sequentially organized chain of global transactions and processes transactions in an asynchronous parallel manner, thereby bypassing the costs and overheads associated with energy-intensive mining (as used in Proof of Work) and large stakes of locked tokens (as used in Proof of Stake). This new protocol, called Proof of Pledge, is green and is less carbon intensive, which makes it a favorable alternative to other solutions that consume thousands of times more power per transaction. For comparison, 100,000 Visa transactions consume 148.63 kWh and 1 Ethereum transaction consumes 136.35 kWh, while 100,000 Rubix transactions consume only 0.174 kWh.
Rubix will leverage the capital and advisory services of Assets International to connect players, participants, and stakeholders across the digital asset landscape with the Rubix network. The partnership will be critical to the success of Rubix’s global expansion.
“At Assets International, we focus on turbocharging promising new blockchain projects and initiatives that have the potential to meaningfully impact the digital asset landscape,” said Jean-Luc Gustave, Partner at Assets International. “We are excited about bringing Rubix into our broad network of capital partners, industry experts, and entrepreneurs to provide Rubix with the institutional capital it needs to ramp up and help it implement the safe, secure, efficient, and environmentally sustainable Rubix blockchain solution that the industry desperately needs today.”
According to project insiders, the Rubix network has an addressable market of over $1.6 trillion and has rich applications in the spaces of ESG (environmental, social, and governance), supply chain networks, NFT/Metaverse (overcoming issues pertaining to high gas fees and a lack of security), transportation (smart toll management solutions for fraud prevention), real estate (tokenizing property in the metaverse), CBDCs/stablecoins (building secure CBDC subnets and stablecoins to power instant global settlement with zero gas fees), food tech (building global provenance and traceability solutions), payments, identity management, and more.
About Rubix
Rubix is a Layer 1 blockchain protocol for peer-to-peer data transfer & transactions. With operations in Singapore, India, the United Kingdom, United Arab Emirates and the United States, Rubix is a Web scale protocol with Zero transaction fees, minimal infrastructure costs, high security & privacy. With less than 1 kWh per transaction, Rubix has one of the lowest energy consumptions among all computing networks. Rubix software can be freely downloaded on any PC or virtual machine. The Rubix community has more than 12,500 validators. https://rubix.net/
About Assets International
Assets International provides digital asset companies with access to growth capital, as well as advisory services that help stakeholders navigate the digital asset landscape. Specifically, Assets International helps digital asset networks with public offerings of network tokens on blockchain exchanges or of their equity in public. Assets International’s broad network is composed of capital partners, industry experts, and entrepreneurs with an unparalleled level of experience with blockchain technology. Assets International has worked with some of the largest blockchain projects in the world and helped get them access to institutional capital.
Contacts
Hardy Spire
hardy.spire@antennagroup.com
KISSPR News - Media Contact: Az@kisspr.com
