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ParallelChain™ – Scalable and interoperable blockchain for everyday business

Blockchain - a technology widely recognised for its potential but few have adopted it commercially in view of its scalability and interoperability of existing blockchains.  However, ParallelChain™ has demonstrated that it can be done through their patented technology.  It is developed by a group of veterans with track records in computer networking, database, cybersecurity, and computer design disciplines from MIT, Stanford, Harvard, Carnegie Mellon, Dartmouth College, Hong Kong University of Science and Technology, Harbin Institute of Technology, and Case Western Reserve University.

 

The company behind ParallelChain™ is Digital Transaction Limited (DTL), a Hong Kong-based blockchain start-up and Cyberport Smart-Space company.  Established in February 2018, DTL specialises in permissioned blockchain. It initially targeted to raise US$21 million in Series A funding but instead over-subscribed their Series A round with US$50 million raised in total.  The funding will be used to expand its ongoing R&D efforts and to fuel its global marketing.

 

ParallelChain™ is a high performance permissioned blockchain platform that can perform at a speed of 100,000 TPS (transactions per second), which is at least 20 times faster than similar products on the market.

 

Novel and unique features are packed under the hood, including interoperability, scalability, tamper-proof records, no-data-leakage, secure access, and online transaction processing with almost immediate update within 100ms, making it perfect for multiparty transactional networks.

 

ParallelChain™ is primed for commercial and transactional applications, including finance, insurance, and healthcare. For example, ParallelChain™ can be used to manage assets, to process and settle trades, and to make cross-border payments.

 

DTL is in the process of applying for 15 US patents for its blockchain inventions. It is also planning for a global product launch in Hong Kong, Dubai, London, Shanghai, Beijing, San Francisco, and New York beginning in December 2019.

 

“We joined the Cyberport Smart-Space soon after we founded the company. Cyberport’s infrastructure in the Smart Space has been most helpful for our expanding operation and we are grateful for Cyberport’s continual support.” said by Ian Huang, DTL’s Founder, Chairman, and CEO.

 

The story of DTL will be featured in Cyberport’s mini-series “數碼港勝利攻略”.  Please stay tuned to Cyberport’s Facebook.