Toda.Network Corp And YouBase Inc. Joint-Venture To Deliver On Blockchain's Promise Of Digital Sovereign Identity Management
Toda.Network Corp. and YouBase have teamed up in a joint venture to make it easier to build distributed, individual-centric applications on YouBase.
Toda.Network is the organization created to foster the growing ecosystem of blockchain companies built on the TODA protocol. YouBase is a platform enabling the use of individual-centric, private and personal life data across applications.
While the TODA protocol enables blockchain projects to deliver on security, efficiency, confidentiality, scalability and interoperability, the 5 fundamentals that define the raison d'être of blockchain technology; YouBase creates richer digital experiences by giving individuals sovereignty over their life data.
Leonard Kish, CEO of YouBase.OT said their platform accelerates distributed application development by making it simple for developers to use the tools that they already know. He said Toda.Network accelerates their goals by enabling blockchains to efficiently scale while offering true confidentiality, and most importantly, decentralization for better security.
On their part, Toda.Network supports an ecosystem of companies that are built on the TODA Protocol. The TODA protocol is a network protocol, referred to as a blockchain “layer-zero” that works as a foundational layer and serves as an evolution of TCP/IP. In a network topology, TODA would be layer 3 and 4 combined, the same as TCP/IP. This foundation enables blockchains and applications using blockchains to scale to billions of users and handle millions of on-chain transactions per second at near-zero cost.
Toufi Saliba, co-author of the TODA protocol and CEO of Toda.Network noted that TODA is a long awaited response to the exploitation on Bitcoin that began 6 years ago, which lowered the bar so drastically on expectations of the technology. TODA is an ongoing quest to bring the promises of the Blockchain to life. Traditional blockchains can either continue to use TCP/IP or realize their true potential by implementing OT.
YouBase's current investors include Eric Topol, MD, Founder and Director of the Scripps Translational Science Institute, Shawn Owen, CEO of SALT Lending, and Andrew Hoppin, the co-founder of CoverUs. The entire round of financing for the joint venture formed between Toda.Network and YouBase was raised in a single effort during a demo on Toda.Day on May 21, where 11 companies showcased their products built On TODA.
The YouBase team previously completed a pilot with two Toronto companies, Self Care Catalysts and MedChart, to build health assets. The company is now expanding that pilot. Self Care Catalysts has 50,000 users. Their goal is to reach a million users on the YouBase platform in the next year.