2
1
EMURGO Ventures has announced a partnership agreement with Partisia Blockchain, a layer 1 public blockchain protocol built for privacy, trust, and scalability. The Cardano-focused investment entity announced the partnership today, May 3, 2022.
The EMURGO Ventures – Partisia Blockchain partnership was reached to continue the push to make Cardano one of the best crypto platforms. According to initial reports, it will facilitate the exchange of resources to improve decentralization and on-chain privacy features on Cardano.
EMURGO Ventures is 100% owned by EMURGO Ptd. Ltd., as an investment subsidiary. EMURGO Ptd. Ltd., on the other hand, is a founding entity and the official commercial arm of the Cardano blockchain.
EMURGO Ventures was launched in 2021 as an integral part of EMURGO’s $100 million Cardano ecosystem investment fund. It is dedicated to supporting the continued development of DApps (decentralized applications) and middleware solutions.
EMURGO is mostly focused on strategic partnership. The new agreement with Partisia Blockchain is aimed at achieving the following objectives:
In addition to the key objectives, the new partnership will promote the widespread adoption of Cardano native token (ADA) and other Cardano-based tokens.
With the new strategic partnership already announced, the Partisia team is already working. It is currently working on a smart contracts programming language specifically designed for privacy-preserving ZK and MPC. The first full version is expected to be launched by the middle of this year, which implies the next month or next couple of months.
Speaking about the new partnership, EMURGO’s founder and CEO, Ken Kodama said:
“EMURGO Ventures is excited to partner with Partisia and its stellar team to bring more privacy tools for Cardano developers to utilize and add value to the Cardano ecosystem. Cardano’s Web3 development is advanced by the efforts of Cardano’s DApp developers, and this partnership serves to add more elements to their toolbox to provide services that users will demand such as privacy features.”
Expressing his excitement about the new partnership, Partisia Blockchain’s co-founder, Brian Gallagher said:
“Partisia Blockchain couldn’t be more thrilled to partner with EMURGO Ventures to deliver our first cross-chain, zero-knowledge privacy smart contracts to the Cardano ecosystem. The Cardano ecosystem is one of the biggest in the industry and we look forward to providing as much value as possible to the developers. We built Partisia Blockchain with a collaborative approach to make our privacy contracts available across all other networks and this partnership is a strong indication that we’re finding product market fit in this industry and that privacy is in demand.”
EMURGO Ventures' partnership with Partisia Blockchain is big news for DeFi. The objectives are practical. Such partnerships are needful if the realities and full potentials of web3 will be achieved.
A statement from venture capital firm, a16z portrays this point best. It reads:
“The next phase, this next decade, will be the ability to interact with anyone, anywhere, at any time – privately, without revealing one’s data, and with more control in the user’s hands. New web standards built with zero-knowledge proofs and blockchains will therefore offer users choice by introducing a new privacy layer for the web.”
A lot is already happening in the cryptocurrency space in general and DeFi in particular. Partnerships like this breed growth, and we look forward to more exciting announcements.
2
1
Manage all your crypto, NFT and DeFi from one placeSecurely connect the portfolio you’re using to start.
