Quantoz, the company providing professional services to explore emerging blockchain technologies and crypto-currencies, and to understand the potential impact for various industries, has announced a number of achievements that it has made over the past three months.
One of the key developments the company announced was that, after nearly a year of preparation by the teams from Syngenio AG, Crout GmbH and Quantoz, the Quasar Payment Network Consortium has been founded. QPN is based on the Quasar blockchain technology and focuses on micro-transactions for the Internet of Things. The QPN Consortium is responsible for the technical and commercial exploitation of the Quasar technology.
The Quantoz crypto-currency exchange platform HappyCoins has reported continued growth on a monthly bases and has seen the number of accounts pass the 25.000 mark as of last month.
In May, Quantoz received the grant of its first patent. Towards the end of 2015, the company submitted a patent application for its Secure Payment over Unsafe Relay or ‘SPUR’ protocol. This protocol consists of a method based on asymmetric cryptography and using technology standards for exchanging data over short and long distances. With SPUR, the purchaser’s Internet connection is used to pay a non-connected device.
In the first half of 2017, Quantoz started multiple projects with industrial partners. Amongst these was Austria-based Kapsch TrafficCom. Following the pitching of Quasar, along with 300 other startups, Quantoz was chosen to be one of the 15 finalists to join the ‘kick-off bootcamp’ of the Factory1 program located in Vienna, which Quantoz eventually won. Heinrich Schmid-Schmidsfelden, Head of Corporate Innovation at Kapsch, remarked that Quantoz had been selected as Kapsch were “fascinated by Quantoz’ capability to create a professional blockchain framework, which unlocks new opportunities for our industry as well as the whole IoT future.” The result of this will be that Quantoz will work closely with Kapsch TrafficCom in the next few months to work on a proof-of-concept to help shape the future of mobility.
Collaboration with the Munich-based Hypovereinsbank was resolved in May and culminated in a joint presentation by Gerhard Bystricki - head of Product Management Payments Germany for UniCredit - and Henri de Jong - responsible for Business Development at Quantoz. The companies worked to link digital and physical financing for IoT and management of funds.
Quantoz has also expanded its network of associate partners with the inclusion of Samarth Shekhar, the organizer of the FinTech Forum. Dditionaly, it was announced that a new investor had been on-boarded to help grow the company and prepare for the following finance round.
Shekhar stated: “When we had Quantoz participate at the 6th FinTech Forum back in 2015, they weren’t the only blockchain company on stage. However, they were one of the few that could talk about concrete use cases, pilots and implementations. They have seen growing interest from leading financial institutions as well as players in other sectors that need to move money between people and things.”