Blockchain Founders Group partners with Concordium to promote a more secure and trustworthy future

Blockchain Founders Group and Concordium have entered into a partnership. Concordium is a permissionless Layer 1 that balances privacy with accountability, providing a fast, secure, and high-scale blockchain platform to build a safer tomorrow. - Author: Albert Sugiharto

Why we partnered with Concordium

Concordium is a Layer 1, science-backed blockchain, that balances privacy and accountability, placing a strong emphasis on data security and user-controlled personal information. It leverages zero-knowledge proofs to ensure privacy while utilizing third-party verification services for identity validation, keeping sensitive ID data off-chain and bolstering security. This distinctive approach positions Concordium as a public blockchain with private blockchain advantages, offering a high-speed, secure, and highly scalable platform. It facilitates the seamless development of use cases and dApps, ensuring verified IDs, instant finality, high throughput, and low transaction fees pegged to fiat. Concordium's commitment to safety and compliance, backed by a team of experienced professionals including software engineers, cryptographers, researchers, and business leaders, underscores its dedication to building a responsible and transformative blockchain solution that addresses real-world challenges.

Concordium is the only blockchain with ID ingrained at its protocol layer. The versatility of Concordium Smart Contracts extends across various sectors and industries, encompassing IoT, supply chain, finance, and interoperability solutions between diverse platforms and blockchains. Concordium is designed to prioritize speed, security, and cost-efficiency. CCD, the native token of Concordium, is the payment token that can be used for a variety of purposes on the Concordium platform. This includes payment for the execution of smart contracts, payments between users, and payments for commercial transactions. A total of 10 billion CCD have been created in the genesis block, with further creation of CCD possible through the minting process.

Led by a team of experts from a variety of disciplines and industries, Concordium is scaling the chain to its extensive network of the world's biggest enterprises to ensure its ecosystem continues to develop according to the needs of its users and with democracy at the core. Furthermore, Concordium is supported by the Concordium Foundation, a non-profit entity aiming to construct the world's leading open-source, permissionless, and decentralized blockchain. By prioritizing the needs of its users and embracing a democratic ethos, the foundation ensures the continuous development and evolution of the Concordium ecosystem.

“Incubators and accelerators are the backbone of the ever-evolving landscape of Web3. Concordium is thrilled to enter this partnership and journey toward a more decentralized future.”

—Robin Gonzalez Kristensen (Communications Manager, Concordium)

What the benefits are for BFG portfolio companies

BFG portfolio companies building on top of Concordium will be able to tap into the various benefits of the platform, including low stable transaction fees, reduced environmental impact, extensive ecosystem support, and fast finalization without rollbacks. Transaction costs pegged to the Euro ensure predictability and stability, driving adoption and facilitating business forecasting. The blockchain's proof of stake mechanism minimizes environmental impact and maintains a low carbon footprint, aligning with sustainability objectives.

Through this partnership, BFG and Concordium will work together to promote the growth of Concordium’s blockchain ecosystem. The partnership will benefit BFG’s portfolio companies interested in building on top of Concordium to have access to the people behind the technology, ensuring them in building various use cases while maintaining safety and trustworthiness. Learn more about Concordium on their Website, LinkedIn, and Twitter, or join the Concordium community on Telegram, Reddit, GitHub, and Discord.

“We're excited to partner with Concordium, aligning our vision for a transparent and secure digital future. This collaboration amplifies our dedication to building startups on the Concordium Ecosystem.”

— Max Zheng (Director of Investments, Blockchain Founders Group)

About Blockchain Founders Group

Blockchain Founders Group (BFG) is the driving force behind web3 innovation. As a company builder, we bring together a team of blockchain visionaries, experienced entrepreneurs, and industry experts, all committed to nurturing emerging talent. Our BFG acceleration programs serve as your springboard for launching blockchain startups, transforming concepts into reality in just 2-3 months. Each cohort develops 5-8 unique web3 ideas, and selected projects will be financially supported with 70,000 - 100,000 EUR, along with access to our extensive network. Join us in shaping the future of web3!

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Contact: Max Zheng, Director of Investments, max.zheng@blockchain-founders.io