Watr Unveils Collaboration with Parity Technologies as It Brings Its Ethical Commodites Platform to the Polkadot Ecosystem – CoinCheckup Blog

• Watr, a blockchain protocol specialised for funding and investing ethical commodities, is collaborating with Parity Technologies
• Watr’s platform is built applying the Substrate framework, and the task is planning to link the system to Polkadot as a parachain
• Parity Technologies will assist Watr with growth of the protocol and other R&D initiatives

Watr announces collaboration with Parity Technologies

Watr, a blockchain protocol specialized for the financing and trading of moral commodities, has introduced a collaboration with distinguished blockchain enhancement firm Parity Technologies. Watr is leveraging blockchain engineering in an hard work to make liable source chains more economically viable.

According to a press release from Watr, Parity Technologies with guide them in creating the Watr protocol and vital programs built on top of it. The two will also be doing work on investigate and advancement initiatives to build bespoke features for the commodities industry. 

Some of the applications that are staying worked on for the Watr ecosystem involve decentralized id and KYC (know your shopper) solutions, provenance tracing for the uses of ESG (environmental, social and company governance), tokenization of assets, and additional.

Parity Systems first manufactured its identify as just one of the biggest developers in the Ethereum ecosystem, but their emphasis has because shifted about to Polkadot and the Substrate framework that underpins it. The founder of Parity Labs is Gavin Wood, who is also the creator of Polkadot. 

Watr and Parity Systems are a pure match for a collaboration considering the fact that the Watr blockchain is built on the Substrate protocol. It also sporting activities compatibility with the EVM (Ethereum Digital Equipment), offering a acquainted natural environment for smart contracts and decentralized software development, which has generally been centered close to the Ethereum ecosystem. 

The Watr venture plans to join the Polkadot community as a parachain in the foreseeable future. Parachains are specialized blockchains created with the Substrate framework that profit from the safety of the Polkadot Relay Chain, and can interoperate with all the other parachains linked to the network. The project will be connecting to Rococo, a testnet for Polkadot, by early September. 

Maryam Ayati, the president of the Watr Basis Council, commented on the project’s collaboration with Parity Technologies:

“The opportunity to build new classes of ethical commodities and traded provide chains is tremendous. We are thrilled to have the legendary crew at Parity sign up for us and our present associates in enabling commodities’ transition to World wide web3 small business products and liquidity when safeguarding the security and decentralized ethos of a general public blockchain servicing equally retail and controlled institutional users.”

Meanwhile, Parity Technologies’ head of ecosystem expansion and enterprise advancement Omar Elassar highlighted the collaboration as a stage ahead for the adoption of Website3 in the commodities business:

“This collaboration will bring Watr’s deep commodities’ skills to the Polkadot ecosystem and kick-commence a system for World-wide-web3-enabled alternatives that resolve urgent business concerns. This is a large initial phase on the path toward greater adoption of Web3 within just a enormous industry that’s crucial to the world economic climate.”

Edward is a finance qualified that experienced the 2007 stock current market crash initially hand. In 2010, he learned Bitcoin and has been a cryptocurrency advocate ever considering the fact that.