Aelf Innovation Alliance is set to launch a project known as the Innovation Alliance, whose core objective is to advocate for the mass adoption of blockchain technology in the corporate world. The incentive will be run alongside major players in the blockchain industry, though the next-gen cloud computing distributed ledger network (aelf) maintains the supervisory position.
The Innovation Alliance aims to achieve its goals by availing all the necessary resources to enterprise looking to embrace blockchain technology, regardless of the institution’s size. These resources will include an in-depth expert analysis of the industry as well as advice on how to make blockchain technology applicable in their field of work. Initially, this program will target the gaming, banking and supply chain sectors, as these are yet to feel the impact of adopting distributed ledger technology.
Besides aelf, other notable stakeholders of the Innovation Alliance project include; Signum Capital, a Singapore-based and the country’s most influential digital fund, FBG Capital, an Asian blockchain hedge fund, Roland Berger, a German strategy consultancy company, Huobi labs, a subsidiary of Huobi, and Michael Arrington, the creator of TechCrunch who is also a Silicon Valley impresario.
During the launch, Zhuling Chen, a cofounder at Aelf, noted that blockchain technology is often intimidating to startups, and to some extent, even the established businesses. The Innovation Alliance aims to ease this fear by invited all enterprises to an open discussion where they will share the knowledge they have amassed in the numerous years they have been in the industry. This move is in alignment with Aelf’s vision of promoting peer-to-peer connections over an open-source blockchain network.
Michael Arrington stated that the project’s founders are aware of the disruptive potential that blockchain technology holds, and further admitted that the real challenge is advocating for its adoption. He added that while the will is there, the market currently lacks adequate educational programs to inform businesses on how to adopt this nascent technology.
Under the proposed system, aelf will provide the blockchain on which commercial enterprise will build their decentralized applications. This saves on the expenses that would have otherwise been used in the creation of individual distributed ledgers. The aelf ecosystem is equipped with advanced features that ensure the performance of the member applications remains fast and reliable, irrespective of the number of users.
The Innovation Alliance was inaugurated at the famous World Digital Assets Summit in Singapore, an event organized by FBG Capital. This annual convention brings together leading institutions in the blockchain sector to discuss on trends, impacts and best use cases of the technology.