Quant Network announced that it is now a supplier on the G-Cloud 12 framework of the UK government. The framework is part of the government’s Crown Commercial Service.
With this integration, the UK government has easy access to the powerful technology that Quant Network possesses.
Quant is delighted to be named a supplier on @GOVUK Crown Commercial Service’s G-Cloud 12 framework.
UK Gov now has access to Quant’s powerful technology that helps enterprises and governments to unlock the true value of distributed ledger technologies.https://t.co/W9p16Qbm0f pic.twitter.com/uP2JymhC32
— Quant (@quant_network) September 28, 2020
This technology helps governments and businesses to gain deeper insight concerning distributed ledger technologies (DLT). The government has chosen this network due to its features and benefits. The UK government also rolled out a full report which looked at the overview of the network and its capabilities.
The UK’s Crown Commercial Service recently entered into an agreement with G-Cloud 12. The overall goal is to provide UK customers with the ability to seek out and purchase cloud computing services.
About Quant Network
Quant Network is a technology that activates the trust functions that exist between several blockchains. Quant can be able to do this through the help of the Overledger operating system. Overledger is the first operating system to be built for connecting blockchains and networks globally, without tampering with their interoperability. It can also connect networks that provide financial services, healthcare, and many others, making it a great choice for governmental activities.
As a cloud-based enterprise OS, Overledger can also connect to multiple DLTs and other API-based systems.
Through a single API, Overledger can expose the collective functionality of the connected systems. This means business processes and coordinated transactions can be allowed to occur across all the connected DLTs and API-based systems. In this way, Quant also achieves its goal of building an “Internet of Trust.”
Features of Quant Network
The UK government notes the benefits and useful features of Quant Network. The platform makes use of the Overledger which supports multi-DLT applications (mApps) that are powerful. It also contains a Quant ID, which is an interoperable multi-chain meta-identity. The connector framework can be connected to any DLT or traditional system.
Additional features include cross-chain atomic swaps and treaty contracts. Treaty contracts refer to multi-chain smart contracts that are also available on DLTs. With its zero-knowledge proof, data can be safely protected on public networks.
Benefits of Quant Network
With just three lines of code, one can start using the blockchain in less than eight minutes. It can be operated by using existing technical resources and skills and is compliant with current regulations and security. The network avoids the necessity of purchasing additional infrastructure and is highly flexible and interoperable.
The deployment model of the Quant Network on the UK government’s G-Cloud 12 framework cuts across different cloud models, including the public cloud, community cloud, private cloud, and hybrid cloud.
Speaking at the European Blockchain Convention Virtual 2020, Gilbert Verdian, CEO and founder of the Quant Network, announced that the team will collaborate with the Massachusetts Institute of Technology.