Bytom and Other Public Blockchains Join Forces to Serve Businesses
Several public blockchains have come together to form a coalition called the Public Chain Technology Alliance (PCTA). The group will attempt to foster collaboration between public blockchain platforms and will enable its members to better serve business partners. According to the press release:
“The blockchain industry currently faces difficult challenges in developing real-world applications for traditional business industries. BVP aims to resolve this by bridging traditional industry sectors and blockchain. PCTA represents another step in this direction.”
The PCTA will improve standardization, facilitate communication between developers and ecosystems, and provide technical support to enterprises and partner projects. Several notable public blockchains have already joined the project.
The alliance will also complement its parent group, the Bitsclub Vision Program (BVP), which is primarily sponsored by Hitters Xu, the founder of Antshares (NEO) and Nebulas. BVP has the broader goal of connecting blockchain technology with the “classical industry,” while the PCTA will focus specifically on the efforts of public chains.
The PCTA features several public blockchains as members. The most prominent is Bytom, a blockchain that can be used to tokenize various types of real-world and digital assets. It currently ranks #42 by market cap, meaning that the PCTA has brought on board quite a noteworthy platform.
Several other platforms are also part of the coalition: the list includes Nebulas, PCHAIN, HPB, NULS, XMAX, YouDeal, and the Atlas Protocol. Each platform has its own focus and unique use case. These platforms have a wide range of capabilities, offering everything from atomic transfers and fast transactions, to entertainment ecosystems and advertising layers.
Mission and Goals
PCTA members will perform at least two roles. First, they will share their public chain technology with the Bitsclub Vision Program in order to facilitate on-chain application development. Second, they will provide technical support to BVP’s partner projects and enterprises. These actions will make public chain platforms much more accessible to clients who can make use of the technology.
Although the number of public blockchain platforms is growing, intense competition between major platforms like Ethereum and EOS can distract attention from relatively minor but useful platforms, including the members of the PCTA.
Meanwhile, private chain and enterprise platforms such as R3 Corda and IBM Hyperledger have long been successful at attracting business clients, possibly to the detriment of public blockchains.
If it is successful, the PCTA will increase cooperation between its members and improve the public blockchain experience for many users and clients. PCTA has set the ambitious goal of bringing 100 million new users to the blockchain through its efforts.
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