Blockchain organization Elastos has been boosted by the news that it has been inducted into the Global Innovators Community of the World Economic Forum (WEF). In doing so, Elastos joins an exclusive group of blockchain projects, namely Hedera Hashgraph and Consensys.
The introduction of Elastos signals the WEF’s intent to accelerate blockchain adoption to effect positive global change using emerging technology.
And Then There Were Three
Elastos now joins the duo, where the project will join other innovators looking to engineer solutions to current crises and ward off future challenges that will threaten society in the decades to come. That’s a big ask, but if any team is capable of assisting – on the tech front, if not the humanitarian one – it’s Elastos.
Founded in 2017 as an open source blockchain platform, Elastos has evolved into a network that’s purpose-built for powering the smart web. This means enabling fast data propagation and communication between networked devices, both people and machines.
The project’s architecture includes an Ethereum sidechain, to enable asset transfer from the leading defi ecosystem, which connects to Elastos’ own Delegated Proof-of-Stake blockchain complete with a decentralized ID system for digital assets.
Elastos Hails WEF Induction
“I am thrilled for the Elastos Foundation and for our global community to join the World Economic Forum’s Global Innovators Community,” enthused founder Rong Chen. “Elastos and the WEF share the common purpose of creating an equitable and ethical future for data. As data ethics have been at the heart of my life’s work, it is a pleasure to bring my perspective to an elite group of organizations and governments, which I hope will benefit from the innovative approach to internet architecture that we have at…