SciDex Announces ICO to Scale Business Smart Contracts, Partners with QuarkChain
SINGAPORE / ACCESSWIRE / August 1, 2018 / SciDex has announced the official launch of their public ICO after raising 12K ETH from investors as seed funding. The ICO launch is happening in conjunction with an exciting new partnership announcement with QuarkChain that will greatly enhance the SciDex Protocol and Decentralized Marketplace.
In their current state, smart contracts offer strength, reliability, and permanence. However, it is difficult for most traditional companies that operate outside the blockchain and cryptocurrency space to make the transition to smart contracts. SciDex was founded in order to solve this problem by making smart contracts accessible and legally compliant for organisations and businesses.
To accomplish this, SciDex developed the SciDex Protocol, which enables traditional written contracts to be easily converted to smart contracts. This transition gives businesses permanent and immutable transactional records within the blockchain while maintaining the simplicity of an easily readable, more traditional contract. Its key feature is the ability to generate adaptable and unforgeable contracts that are compliant for the parties to exchange in seconds.
The SciDex Protocol supports the SciDex MarketSpace, a customer-centric scientific data exchange designed to streamline data exchange and sharing. The MarketSpace is scalably designed to support transactional functionality through smart contracts within the scientific community. SciDex service offerings have been developed for partners such as universities, corporations, and financial institutions who need to be able to maintain compliance within their regulatory requirements and rules.
Peer to peer transactional system provider QuarkChain has also recently partnered with SciDex in order to provide compliance technology for their smart contract protocol. This will enable the more complex aspects of SciDex partner’s transactional needs to be built smoothly and will help achieve a stronger foundation for everyday companies to transfer their contractual needs into a solid, user friendly smart contract format.
According to SciDex CEO Alex Bouaziz, “TPS, Security and Compliance will be the key drivers for the adoption of blockchain technology. We are excited to partner with Quarkchain. Together with theSciDex protocol we have strong synergies and will achieve significant progress for the blockchain ecosystem.”
QuarkChain’s executive leadership also offers positive feedback about this new partnership. QuarkChain CEO Qi Zhou states, “as the Quarkchain ecosystem develops, we look to partner up with the most promising companies. We are excited to join forces with SciDex as they are set to unlock smart contract transactions for businesses for complex assets in a click of a button.”