We want to help the industry move beyond the proof-of-concept stage
Boston, MA (PRWEB) October 27, 2016
Boston-based Adjoint, Inc. was the audience favorite in the “Most Investable Startup” category at the Ernst & Young Startup Blockchain Challenge Showcase (EYSC) day event, held in London on October 19, 2016.
“It is a tremendous honor to win this award as it validates our value proposition and the market opportunity. Our team worked diligently to come up with a solution that addresses the challenges of implementing smart contracts for institutional financial applications. Receiving this award acknowledges our approach to making smart contracts secure and easy-to-use and will help the industry move beyond the proof-of-concept stage,” commented Havell Rodrigues, CEO and Co-Founder of Adjoint.
Adjoint moved its team from Boston to London to participate in the six-week EYSC program, based at Level39 in Canary Wharf, London. Adjoint was one of six startups selected for the challenge. Over the six weeks, Adjoint’s team worked with EY’s mentors and their clients to create a distributed ledger solution for Over-The-Counter (OTC) contracts for energy trading clearing and settlement. “The EY team was excellent in helping us accelerate our growth and we are also grateful for the support and feedback that we received from the EY client mentors and Level39 mentors”, added, Havell.
At the EYSC Showcase Day event, Adjoint presented to the audience their Smart Contract solution for OTC bilateral trades with a live demonstration of their interface, setting up a OTC Swing Swap contract between two parties on a private blockchain. The live demonstration highlighted the ease of use of Adjoint’s platform for using composable smart contract templates powered by Adjoint’s own smart contract language that ensures these contracts are verified, correct by construction, and can interface with standard legal documentation. Adjoint’s solution targets a large market opportunity in the institutional distributed ledger application space. The award was voted on by the audience, comprised of senior management teams at Energy Trading and Digital Rights Management firms, senior EY and FinTech industry professionals.
About Adjoint: At Adjoint, we’re building a revolutionary new messaging and consensus protocol allowing enterprises to quickly deploy, maintain, and analyze a global network of smart contracts on top of a mathematically verified, cryptoledger fabric. Adjoint’s approach is based on the latest research in cryptography, type systems and formal verification. Adjoint’s smart contract platform is being developed to work on all major distributed ledgers and is positioned to be a key player in the distributed ledger infrastructure/protocols for institutional applications. http://www.adjoint.io
For more info on the EY Startup Challenge, visit: http://www.ey.com/uk/en/services/specialty-services/ey-startup-challenge