Deep Dive & Behind the Scenes with Quant Network
Quant Network has solved blockchain interoperability to a universal scale through their operating system Overledger. This solution allows any distributed ledger, network, or system, while building their $QNT token at the centre of utilizing the network. Gaining the interest from corporations around the world from multiple sectors to utilize this solution.
The team at Quant understands that for the mass adoption of blockchain and distributed ledger technology, there isn’t just going to be one blockchain. It’ll be a multi chain world to suit an endless world of preferences & specific needs. Quant’s operating system, Overledger is able to open new doors to those preferences through their solution.
Additionally, Overledger is allowing the new creation of mDapps. Which are essentially the conventional decentralized applications we all know & love, Quant has augmented this concept to the next level through creating multi chain applications, so that an application no longer needs to be bound to a single blockchain. This further expands the ethos of a multi chain world in there will be multiple chains that come out of the infancies of this space successfully.
Through their solution of gateways to not only open more doors to other networks to be interoperated, but to also further decentralize the Overledger Network as anybody with a license is now valid to set up their gateway and partake in securing the network while being incentivized in $QNT tokens to do so.
Distributed Ledger Technology
Distributed ledger technology or DLT has been a growing term in industries across the world over the past few years, especially in the crypto ecosystem. But what exactly are distributed ledgers & whats all the attraction built up behind it?
A distributed ledger is essentially a decentralized database of all data and transactions thats all synchronized and spread out across multiple sites, or institutions regardless of the geographic location, the information stored on these ledgers are all distributed & often publicly viewable. Where each node in these distributed ledger networks are responsible of maintaining the consensus of their respective network.
Contrary to centralized ledgers that have a single point of failure at the centre control point. Since these decentralized ledgers are spread out and secured all throughout the world, not only is there no single point of failure but anybody who meets the requirements to join as a node operator can do so and be incentivized for their good deeds on the network.
In 2020 the estimated value of this new technology was valued at around $3 billion, but by 2025 its expected to exponentially grow to $39 billion. Thats a 12x in growth over 5 years. But thats only off predictions that these distributed ledgers remain the same with little to no further breakthroughs. This is where Quant believes they can not only provide infinitely more value to DLT, but also provide perhaps one of the most essential solutions to any technology with various networks. Universal Interoperability.
As stated before Overledger isn’t a blockchain, dApp, or a DAG, nor is it even a distributed ledger, they’re a DLT gateway. The solutions of a DLT gateway is similar to that of API gateways which have seen massive growth in use cases and adoption over the past few years in the world of both businesses and retail.
Overledger will be able to provide API access into endpoints of all types of distributed ledgers both public & private. The interoperability solutions of Overledger can even tackle the issues of single chain smart contracts, through the use of their patented solution of a cross-DLT solutions. This solution becomes especially more attractive to businesses and consortiums that are looking to integrate DLT’s into their operations but have differing opinions into which blockchain to use with the abundance of chains and respective features of each chain to choose from.
Through being interoperable with both DLT & non-DLT compatible systems through a common communication language. Overledger is capable of having applications built on their OS the ability to utilized data and information across different distributed ledgers, this again further opens up the potential to not just Overledger, but the entire crypto asset industry as a whole. As these chains and applications are now able to work in one aggregate ecosystem of distributed ledgers rather than all living on separate chains in an abundance of individual ecosystems that can essentially be viewed as each chain being its own segregated island.
The solutions of universal interoperability at the scale of every existing network & system is something that is heavily in demand by corporations and institutions around the world. From financial services companies, to tech giants, to even the health industry, and of there the entire crypto ecosystem as these networks all fundamentally consist of distributed ledgers.
While Quant’s currently got over 80 partners under NDA (Non-Disclosure Agreement), there are many public ones that have displayed the true scale of what Overledger is capable of. Additionally, we’ll be connecting the dots to some of these potential NDA partnerships.
What is SIA?
SIA is one of the European leaders in the Fintech and payment services industry. Their clients consist of financial institutions, card & merchants, digital payments, capital markets, and over 570 banks, settling over 16 billion transactions in 2019 alone. Essentially, they’re the backbone for the European financial sector.
But SIA doesn’t just start and end in Europe. They’ve also got working clients and connections in over 50 countries, with some notable features such as working with the Bank of Canada and over 100+ Tier 1 Banks.
SIA has built their network, SIAChain as the private infrastructure to integrate distributed ledgers and blockchains into the financial system through real world business applications. Additionally, SIA is partnered with popular enterprise technology provider, R3 to further advance the development and adoption of this newfound disruptive technology.
How does Quant fit?
SIA and Quant announced their partnership together in the summer of 2019 with the mission to provide interoperability for financial institutions within the SIA ecosystem. With the initial tests of building interoperability solutions out on R3 Corda & private Ethereum blockchain platforms.
Through integrating SIAChain into Overledger, this will see Overledger providing distributed ledger communication and interoperability into multiple distributed ledger protocols. SIAChain has been responsible for building out some of the largest blockchain projects with real world application. One of these is the project titled Spunta, where they have worked to create a fully interoperable system of automated reconciliation of transactions throughout the various distributed ledgers utilized in the Spunta organization. This project consists of the entire Italian banking system and are continuing to add on more.
What is Oracle?
I’m sure most of you have heard of Oracle before, but to summarize it up their best known for their SaaS (software as a service) solutions along with a focus on cloud computing. They’re arguably one of the largest tech & software companies in the world today valued at roughly $250 billion.
On top of that, Oracle has worked to expand their solutions & services into every sector of the technological world. From big data analytics, cloud storage and databases, all the way to even machine learning & AI. Oracle has been a market leader in providing both retail and enterprise software solutions for years now and has become quite a household name in various countries across the world.
Throughout the years, Oracle has built up a strong foundation and solid ecosystem of partnerships and consortiums that they participate and offer insights into. From covering an endless array of industries such as healthcare, retail, manufacturing and more. While some of the partnerships and organizations they’ve joined consist of. The Hyperledger Foundation, KPMG, Accenture, Deloitte and many others.
How does Quant fit?
What initially started out as Oracle taking notice of Quant and adding them into their Oracle For Startup program, where Quant would have the mentorship and tools provided by the team at Oracle to further develop Overledger, has since accelerated and evolved into Quant and Oracle actually working closely together and having Overledger become the official interoperability solution for Oracles blockchain platform.
Oracle is the leader in FinTech for a majority of the largest banks in the world. So it is quite easy to see why the solutions of Overledger of interoperability in addition to an ever scaling and decentralized operating system would attract not just all these financial institutions, but also tech giants like Oracle who could utilize Overledger to further advance and build out their business solutions in the financial and tech sector.
What is Lacchain?
Lacchain is a global alliance that was started up by the Inter American Development Bank created with the purpose and vision to accelerate and build out a blockchain and distributed ledger infrastructure into the Latin American and Caribbean economies.
The Lacchain alliance also has two other main initiatives on their checklist they aim to solve such as promoting the development and adoption of interoperable & scalable standards. While also building and finding economical solutions that could be solved through the integration of distributed ledger technology.
The Lacchain alliance consists of some large name entities such as; Consensys, the IDB, LegalBlock, and more.
How does Quant fit?
Quant and Lacchain have partnered together in a mission to further accelerate the capabilities of this distributed ledgers, but now bringing in the capabilities of universal interoperability. This will see Lacchain able to bring the Latin American and Caribbean geographic multi ledger cooperative payments, in addition to opening doors to new capabilities by integrating resources across other distributed ledger networks.
Perhaps the biggest part of this partnership is Quant announcing that they’re working with Lacchain to help build out the Latin American dollar. This is a huge step in terms of regulatory compliance and recognition, as there are many countries working with other blockchains to either build out wallets or CBDCs. But no blockchain project or even legacy company has worked to build out a new currency for a region.
What is Pay.UK?
Pay.UK is the leading retail payments authority in the UK, being responsible for moving over £17.5 billion in payments every single day. From paying bills, to paycheques, anything online banking in the UK, Pay.UK is likely the ones doing the work behind the scenes.
Covering areas from Bacs, Direct Debit, and the Image Clearing System in order to process cheque deposits and payments more efficiently. As the predominant retail payment processor, Pay.UK undergoes countless transactions every second with little to no room for error. In 2020 they processed over £7.2 trillion of transactions.
They understand the transitioning of payments thats occurring around the world with technological disruption and are assisting to offering the knowledge and insights they have to provide and create a more open and economically inclusive Payments Architecture to further enable the inclusion of digital payments to those in more unfortunate situations.
How does Quant fit?
Pay.UK and Quant will be collaborating together in hopes to assist in building out their vision of improving the UK financial economy. As a guarantor of PayUK, Quant will be responsible for holding accountability for their progression and integrity of this project along with the right to attend and vote for certain resolutions within their annual meetings, along with the proposition and acceptance of certain events that happen such as new Board of Directors, and auditors.
Quant has also partnered with multiple projects that are building within the crypto space such as, the enterprise grade exchange LCX, the new layer of the internet Constellation, the global financial capital AllianceBlock, the network of ecosystems Unizen, and some others.
LCX- Quant and LCX will be working together to build and develop an interoperable CBDC solution. As both the Monty (LCX CEO) and Gilbert have been a part of some high level organizations, they have likely been chosen by those said organizations to be the ones to build out something of this scale.
Additionally, this partnership will see LCX running a Quant gateway to bring interoperability into the LCX exchange platform by allowing other systems into their ecosystem, potentially like other payment railways or integrating other distributed ledger networks.
Constellation- Quant has chosen to partner with Constellation, which has built the first official layer 0 in the crypto world in addition to the Internet for big data titled, Hypergraph. This partnership will see Quant and Constellation collaborating together to build out sandbox environments to test out developing smart and interconnected cities through automated IoT and AI integration.
Through the creation of an automated and augmented Internet with more robust security and interoperability features. Quant and Constellation are two crypto projects each with their own respective interoperability features in which their technological potential could take our human civilization further into the next step of digitization.
Consortiums & Organizations
Quants connections in this space expand much further than just partnerships. Quant along with the team are also part of some high level organizations responsible for monitoring and building out certain laws and standards within this digital asset space.
INATBA- The International Association for Trusted Blockchain Applications is a consortia that allows both public and private developers in this space at the global scale to collaborate and discuss with regulators and policymakers to optimally advance and develop both the technologies and applications to be global adoption ready. Bridging together the finance, law and educational aspects of this space into one working group.
Quant is actually a founding member of this organization along with 104 other household names such as IBM, ConsenSys, IOTA, R3, Ripple Labs and many more. Since then this organization has been joined by countless other projects within this space in addition to others working to integrate blockchain technology into their respective industries or companies that are working with the infrastructure of developing distributed ledger technology for either B2B or B2C application.
MOBI- Mobile Open Blockchain Initiative (MOBI) is a consortium that is working to find a solution of integrating distributed ledger technologies to be utilized in autonomous vehicles for aspects such as autonomous data sharing, through creating standards for creating such a vision to decentralize, automate and improve our world of both public and private commuting and transportation in terms of both sustainability and efficiency.
MOBI is a consortium made up of over 100 blockchain and car manufacturing companies, organizations and academias from across the world. With some households names like BMW, Honda, Toyota, and Ford from the manufacturing side, along with R3, IOTA, IBM, and Ocean on the blockchain side. Some of the organizations that make up of MOBI include the World Economic Forum, European Commission, Hyperledger, and the Swedish Blockchain Association.
Digital Pound Foundation- The DPF is what it sounds to be, they’re an organization working together to tokenize the British Pound as a CBDC like token. They’re an independant working organization in which both public and private sector entities will collaborate together in order to build an optimally viable Digital Pound for the citizens of the United Kingdom and many other European countries to utilize in their daily lives.
Quant is one of the foundational members of this organization in addition to Ripple, Billion Group and Electroneum. Accenture, a powerhouse in the digital product and service sector has also joined as a member along with popular Layer 1 Avalanche and their association Ava Labs.
Hyperledger- Hyperledger can be considered like an umbrella project made of a multitude of open source blockchains that initially started off from the Linux Foundation back in 2015. It is utilized across multiple sectors and industries for specific needs which distributed ledger technologies can offer as a solution. From working with projects in the crypto space, to some larger legacy household names. The Hyperledger Foundation is made up of only the best and most reliable entities out there.
On top of allowing interoperability solutions into some of Hyperledgers products such as Besu and Fabric. Quant is part of the Hyperledger foundation, putting them in the same organization as some huge names such as IBM, Swift, Splunk, Visa, Walmart, the list goes on.
Linux- The Linux Foundation as stated previously, is responsible for the creation of the Hyperledger foundation. This is a non profit technology consortium that was founded in 2000 when both Open Software Development and the Free Standards Group merged and formed the Linux Foundation. Their goal is to assist with open source technology and promote the decentralization of developing these projects to advance our world of technology.
Quant has been a member of the Linux Foundation since 2019 and is joined by some high level members such as Intel, Microsoft, Meta, Oracle, Google and many others.
InterOpen- One of Quants earlier organizations that they’ve joined. They’re a consortia to work and develop interoperability in the health and social care industries.
Ironically enough Gilbert had started the idea of Quant through his frustrations while working in the health industry in New Southern Wales.
Medical data is the most important and vulnerable data out on the black markets, as its essentially irreplaceable. If someone steals your cards, you can change your bank number, if someone gets ahold of your health data your only option is to change your DNA. Quant and Interopen will be collaborating to find solutions in the medical field of data validation, data exchange & governance of the protocol.
Now for my favorite part. Connect the dots to form speculative connections that get us excited!
So we all know Quant is perhaps one of the most regulated crypto projects out there and in return, has seen both interest and demand from some high level organizations and companies as we were discussing. But now the IMF has drawn its eyes onto Quant at being the interoperability solution for multi ledger CBDC’s. While there have been countless financial institutions, consortiums, and global organizations of all levels that have stated theres a need for a multi layer interoperability solution for this aggregate blockchain and distributed ledger innovations to really draw in real world application, and in return mass adoption.
This is an organization formed by the United Nations we’re talking about, this isn’t just some small local organization consisting of small countries. The International Money Fund is organized by over 196 different countries that work together to monitor global monetary cooperation and along with the entire stability of our financial system. Global trading, financial security, microeconomic growth, decreasing global poverty and more.
While no actual mention of Quant Network or Gilbert Verdian mentions anywhere in this document. There are some traces of and connections that could potentially lead to Quant. For one, Monty Metzger the CEO of LCX is currently a member of the World Economic Forum, a crypto project that Quant has been working quite closely with over the past year.
Additionally, they’ve collaborated certain segments of this paper featuring the BIS and IMF, and as mentioned before, Quant and the IMF are supposedly working together to build a solution for an interoperable CBDC. The whitepaper also has multiple mentions of an mCBDC. Where the “m” stands for multi ledger, something thats been unique to Quant with their mDapps where they augment your usual decentralized application to be a decentralized application, thats accessible and thus cooperative or interoperable into multiple distributed ledgers. So while this could potentially just all be coincidence, but connecting the dots does make it seem like Overledger is utilized or at least subtly hinted at for this proposal of interoperability.
In the Open Digital Asset Protocol proposal, Quant collaborated with some large name companies & the highest ranked academia, Massachusetts Institute of Technology. They discussed a protocol that was able to keep track of the status of all other distributed ledgers in an interoperable manner. In which digital assets are transferred through two gateways communicating to connect separate distributed ledgers and networks that previously couldn’t communicate before.
Working with MIT along with these other large companies to build out standards and lay the foundation is this space is what really makes Quant unique in respects to not just its competition, but to being “regulatory resistant”.
ODAP has drawn recognition from the likes of even Visa as referenced in their proposal for interoperable digital currencies. Through the use of each distributed ledger going through a gateway and plugging into a common API to communicate, they’ve enabled the ability to allow two blockchains with no connection or bridge whatsoever, to find a common communication language, in return opening an ever growing amount of new possibilites.
So HSBC & IBM have stated they’ve made an interoperable multi ledger CBDC. Now both these corporations each have a respective blockchain that they’re known to utilize. HSBC utilizes R3’s Corda, and IBM uses Quorum which is essentially Ethereum for enterprises. Neither Corda nor Quorum have an interoperability solution in its own. Corda does have a DASL bridge to bring Xin Fin’s $XDC token to be the settlement token.
Interestingly enough as SIA is also working with R3, and during Quant’s initial collaboration with SIA it was stated they’ve successfully successfully used Overledger in a full program of tests for interoperability on R3, private Ethereum platforms, and SIAChain itself.
Additionally Quant, IBM, HSBC, and R3 are all in multiple organization together that work with creating the infrastructure layer of the standards of blockchain and distributed ledger technology. So it’s not too crazy to think that some of these companies in these organizations like HSBC, had reached out to Quant to collaborate with their interoperable solutions thanks to Overledger. So could this be a potential NDA we discovered? Who knows.
To summarize, R3 does technically now have a solution to full interoperability as SIA’s work with Quant has indirectly allowed Quant and R3 to integrate Overledger gateways into their platform, and its likely HSBC being one of the most known Corda enterprise users have discovered a solution to interoperable CBDCs.
So at the front layer of all these partnerships we can recognize that Quant has been making some substantial moves with the bigger players in this space, being global alliance organizations and some Fortune 500 companies. But the deeper you dive into their ecosystem the more potential connections that are between the lines there are. (Keep in mind these are “speculative” connections.)
Quant has two advisors on their board which really seem to stand out for joining into this space.
Theres Guy Dietrich, who joined Quant in around Q2 of 2019. Guys got over two and a half decades of experience as a managing direction for one the largest investment banks in the world, Goldman Sachs. Along with spending a few years at Rockefeller Capital Management as their managing director, this management group is the same notorious and historic Rockefeller Capital dating back to the late 1800’s, where John Rockefeller was the richest man of all time, totalling up an estimated individual net worth of nearly $500 billion.
There is no doubt that Guy has built up connections with organizations and entities that we’ll likely never hear about, but as an advisor for Quant with his level of experience, thats a perfect choice.
Neil Smit is the other advisor on Quants team. Neil is the former Co Chairman and CEO of Comcast Network from 2005 up until 2017, where he helped grow Comcast out to become one of the largest telecommunications network in the United States. So Neil has some experience in building out networks and knowledge on letting the network effects play out.
Both Guy and Neil have both had ridiculously successful careers already and are technically approaching the latter end of their relative careers, with both Guy and Neil in their early to mid 60’s. They could have easily retired or had the option to advise at an ever growing list of other startups that would’ve loved to have their experience on their board. Yet they chose a project in the crypto space that wasn’t even in the top 100 at the time.
It really makes you think, these guys higher up on the ladders probably know some things about Quant that we have no idea about yet.
The Mastercard connection with Quant dates way back to while Quant was still just an idea of Gilberts, where the Quants current Chief Product Officer, Martin Hargreaves spent over twelve years working at climbing the ropes to technical architect, all the way up to Vice President. At the same time Gilbert had would Chief Information Security Officer of the Year in 2016 during their time at Vocalink, a Mastercard payments company.
Additionally Mastercard is also one of the many members joining Quant in the members of The Linux Foundation.
The International Organization for Standardization (ISO), is a global organization formed in 1947 that works to create standards across multiple industries across the world and is a council consisting of 165 countries as members. From G20 countries like the United States, Canada, even China. To some lesser developed countries like Cameroon, El Salvador, and Egypt, the ISO Standards are a universally respected and accepted organization for the implementation of building out frameworks and standards.
ISO Standard TC307 is the universal standard for interoperability and communication between blockchains and distributed ledgers that was founded by none other than the founder of Quant, Gilbert Verdian.
Being a founder of an ISO Standard is something only a handful of organizations and working groups could have on their resumes, let alone an individual. This ISO standard has seen the support and acceptance from over 45 different countries and 12 other ISO Standards underdevelopment in response to further build out the scale of developing this standard for global adoption, such as ISO 23257, the ISO Standard for reference architecture in blockchain and distributed ledgers.
Watching Gilbert go from building out the standard of interoperability in this space, to now building out the operating system that will bring what he envisioned to a reality, seems to become more realistic as we begin connecting these dots.
So the golden question everyones been waiting for….” How will this effect the $QNT token, and specifically the price?”
As Quant is currently working heavily within the enterprise side, once their Overledger Mainnet launches its likely there will be more growth in demand for $QNT as it’ll be required across not just retail users but even institutions as a core function of the network.
The network growth of Overledger is indirectly tied to QNT, as the more network demand there is, the more tokens get locked up as a converted license fees. In return, the supply of QNT becomes more scarce than it currently is, and in return a supply shock from the demand growth.
As with their Overledger Mainnet, Gateway hosting and staking will further provide another layer of supply shocks, where users can now stake their QNT onto their gateways for extra throughput at verifying transactions in their respective gateways.
With QNT being a regulated token by FINMA for digital products and services, I feel comfort holding QNT even with regulations around the corner due to the fact they’re ironically part of the regulators themselves, while also working with some of the highest level organizations to advance the development of this innovative technology to further improve economic inclusion and cybersecurity.
Quant definitely has a lot more going on behind the scenes than what they appear to have on the surface within the general public. From working legally with regulators to advance the development and adoption of distributed ledgers through organizations like LacChain, Linux, and the Digital Pound Foundation.
With solutions also regarding raw data and technology through their partnerships with Oracle to Overledger to become their primary interoperability solution on their Blockchain Platform, and Constellation’s Hypergraph collaborating with Overledger to create new possibilites with smart automated IoT technology.
While there are some speculative ideas in this article, what remains certain is that Quant has been recognized by some of the largest names in the world, and has proven so by being accepted and utilized in countless consortiums along with individual companies partnering with Quant.
*None of the information listed is financial or investment advice and should only be taken as entertainment or educational as I’m not a financial advisor*
Hey, thanks for taking the time to read my work. I’m your average 21 year old, currently in school for Economics and Finance. Some of my hobbies consist of sports, working out and staring at price charts.
I initially began interested in the crypto space after frustrations with legacy markets. From the second I read about the Ethereum ecosystem, I fell in love. An entire ecosystem built on one platform that anybody can access? Unheard of, until now.
With how fast this space is developing, I try and find projects within this industry that show promise and potential to disrupt our modern world. All this fundamental analysis not only helps me better understand these projects better, but hopefully gives you guys some newfound information!