Fintech News Desk
A leader in digital asset technology, NSAV announced today the launch of VagaChain, a 3rd Generation Layer 1 Blockchain Solution. The new blockchain solution will tackle the most critical and urgent sustainability challenges for businesses and enable their transformation.
Why the FinTech Ecosystem Needs a Third-generation Layer 1 Blockchain Solution?
The global blockchain-as-a-service (BaaS) market size was USD 1.90 billion in 2019 and is projected to reach USD 24.94 billion by 2027, exhibiting a CAGR of 39.5% during the forecast period. With the launch of VagaChain, NSAV and Vagabond Technology Solutions, a Blockchain-as-a-Service provider (BaaS), together are strengthening their shared ecosystem.
Why Did NSAV Choose Vagabond?
NSAV and Vagabond are focused on delivering trust and efficiency in value chains, allowing businesses a seamless transition into a carbon-neutral ecosystem to protect and improve operational processes and data through a performant, green, and secure infrastructure. With this powerful collaboration between both companies, VagaChain is at the center of the growth and innovation agenda providing increased Life Cycle transparency, as well as reducing cost and risk across the entire value chain.
VagaChain is a robust, low emission, fast blockchain with industry-standard use-cases and a trusted ecosystem of people, standards, tooling, and practices for innovative green solutions:
– Life Cycle Inventory & Assessment, including Governance
– Life Cycle Management
– On-Chain Decentralized Governance (DAO)
– Byzantine-Fault-Tolerant (BFT) Proof-of-Stake (PoS) Infrastructure
– Asset Tokenization (NFTs, Phygital, Documents, etc.), Cryptocurrency (Tokens)
– Smart Contracts
VagaChain, together with Vagabond‘s Circular Economy know-how and experience enables businesses to achieve their ESG goals with efficient, transparent, and verifiable databases, on a public ledger, allowing the Circular Economy to function alongside sustainable-minded protocols that work today, tomorrow, and in the next years to come with full transparency.
Facing increasing regulatory and stakeholder demands, organizations need insights at their fingertips to innovate and embed sustainability into their value chains with a focus on providing sustainability intelligence to break down silos and provide data-led insights.
At the time of this announcement, Navid Kiani Larijani, Managing Partner of Vagabond Solutions stated, “The biggest benefit of blockchain for value chains is that even small interest groups have the opportunity to securely exchange information. Combining a high degree of transparency and trust with a sustainable solution is what VagaChain offers.”
Fintech News: Canadian InvesTech Firm Wealthsimple Raises $750 Million
Dr. Thomas Riegler, CEO of Vagabond Solutions stated, “There is a growing expectation towards businesses to play a vital role in addressing sustainability challenges. The only viable and sustainable solution is to have ESG / Green Bonds / Green Assets, but also ESG and Sustainability ratings, as well as Sustainability as such, audited by everyone on a transparent ledger instead of centralized entities.”
Dato’ Sri Desmond Lim, Interim CEO and Senior Vice President of Cryptocurrency Operations for NSAV and Silverbear Capital partner stated, “Meeting the ESG Goals will require a steady stream of innovations and the deployment of advanced digital technologies on a massive scale over a long time. Fortunately, this is precisely what we are good at.”
Vagabond is a Blockchain-as-a-Service platform that enables businesses to implement the benefits of Blockchain into their operations. We see a significant market potential that addresses the most notable challenges companies face in deploying blockchain solutions – the cost and time of implementation and adoption.
Recommended Fintech Update: Piper Sandler Expands Consumer Equity Research Group with Addition of Edward Yruma
