Quant Network, The Network Of All Networks

For the mass adoption of any technology, interoperability is essentially as it allows systems to work within each other in an ecosystem. As opposed to multiple separate networks that can’t communicate with each other.

Summary

The problem Quant Network is trying to solve is universal interoperability to all blockchains and enterprise technologies. They have created an operating system to run on top of all existing blockchains to connect the world’s current networks. The team at Quant Network has built the blockchain agnostic operating system Overledger to complete this task, Overledger will be the system which their multi chain applications will run on. Universal interoperability will allow for different blockchains, DLT’s and API’s, made possible using the blockchain standard ISO/TC307, this blockchain standard will be the equivalent to what TCP/IP is for the internet. Without interoperability a iPhone using Verizon network would only be able to send and receive emails, calls and texts from other iPhones using Verizon network.

By utilizing three simple lines of code and an API Gateway for DLT’s, universal interoperability can be achieved allowing for any system or network to communicate. Quant Network aims to target their services towards enterprises as a solution to connect and work with other companies’ networks, even if they were built on different systems. As this not only benefits the entire crypto ecosystem but also many financial and big tech institutions would be interested to work with the newfound solution Quant has discovered.

Quant Network believes the future of blockchain and crypto assets won’t live on a single chain, but rather multiple blockchains. In order to scale and for globalization, separate blockchains and DLT’s, other chains need to communicate and cooperate together, similar to how websites on the Internet can be connected together. In today’s society, we’re more connected economically, socially, and culturally together thanks to the power of technology. Yet there are still barriers to universally connect. With current distributed ledger technology, our boundaries are extended, but still lack simplicity and interoperability to connect across other DLT’s and systems.

Utility

In the early days of the Internet, the internet was divided into networks across different parts of the world, and without interoperability users could only access networks within the limits of their own jurisdictions. It wasn’t until TCP/IP was discovered that networks were able to connect to any network around the world without needing to understand or reside within the boundaries of the other network. Looking back from today, people would wonder how they even manage to go about their daily lives with a fragment of the internet like this.

Current blockchain and DLT technology is at a similar point in development, with most chains unable to connect to other native blockchains or systems without going through unnecessary steps. ISO/TC307 will allow for these networks to all connect and interoperate with each other. Meaning someone could hypothetically build their own multi-chain application, using the security from Bitcoin, while it lives on the Ethereum blockchain, with the speed and scalability of Cardano, as they access this network from the Hyperledger blockchain. The possibilities of combinations are endless with universal interoperability, allowing for enterprises and entrepreneurs to build systems and blockchains while picking out good qualities from pre-existing networks to implement into their own.

Quant currently offers multiple services for enterprises and startups with options such as, Multi Ledger Tokens for minting multi DLT stablecoins from fiat funds. This service is geared towards financial institutions, supply chain industries and fintech firms, allowing these firms to lock up funds in escrow and mint tokens of equivalent value. These tokens can then be utilized upon any other DLT, public or private. End to End DLT is another service Quant offers and is targeted towards supply chain and companies using multiple DLT’s. Procurement, logistics, provenance, and customs all require different DLT’s that cannot communicate with each other, Overledger solves this through a single API that allows for convenient app developments that allow all DLT’s to be utilized in unison. Overledger has also built Distributed Ledger Networks for users to build on other networks, with their current options for Bitcoin, Ethereum and Ripple, with the option to also build on top of non crypto blockchains such as Oracle, Corda, and Hyperledger. Participants of the Quant ecosystem can build projects on one of these networks and purchase a standard API for their desired network, cutting out the requirement for users to have nodes or experience in interfacing and cryptography.

Contrast to most other crypto projects, and for a project attempting to connect all networks and blockchains. Quant ironically does not have its own blockchain, rather the operating system Quant has built, Overledger is the reason why so many firms are seeing potential in this start-up. As there are already hundreds, if not thousands of native blockchains that currently exist. As there are currently blockchains that banks and financial institutions use, government utilized blockchains, along with blockchains in the crypto space.

All these chains are limited to only grow and scale within their ecosystem without interoperability, meaning a bank based blockchain, JPMorgan for example may wish to access the DeFi ecosystem within Ethereum for their clients asset managements, they wouldn’t be able to do so without going through the process of swapping between tokens or wrapping tokens to integrate into Ethereum. The process to wrap and swap between coins can not only be inefficient and time consuming, but would eventually add up in hefty amounts of transaction fees over time.

Initially the idea for Quant Network began when one the founders was working within the health industry in Australia in 2015, and faced the struggles and frustrations of being unable to organize and group together patient records across multiple operating systems into one. The clear solution was to create a platform to build on top of all blockchains and systems to enable blockchains to work within each other. With the potential Overledger has, Quant Network aims to build their project to accelerate the world’s current technological limits. Through the ability to bridge existing networks into blockchain technology.

Team

The founder and CEO of Quant Network is Gilbert Verdian, who also happens to be the founder of the ISO/TC307 standard that brings the idea of Overledger to life. Gilbert arguably has the ideal resume to bring a project like Quant to the world of business and technology. Prior to beginning his journey in the crypto space, Gilbert has had years of previous experience working within areas of authority with accolades to show for. From 2009–2011 Gilbert worked as the CSO and Deputy CTO of Her Majesty’s Treasury, the HM Treasury is responsible for the planning and execution of government financial and economic policies. Gilbert then moved on to work as the security lead with the Ministry of Justice in the United Kingdoms from 2012–2013. Starting in 2014 Gilbert began working within the health industry as a chair member and CIO/CISO for NSW, Australia’s largest state level ministry of health. Vocalink, a Mastercard company utilized for payment systems, was another company Gilbert had worked with as the CISO for two years. From 2016–2018, Gilbert joined the Bank of England as a member of the cybersecurity and resilience group.

In 2016 Gilbert had also discovered and founded the blockchain and DLT standard ISO/TC307. Through 2018 Gilbert began to expand his work experience into North America through working with the US Federal Reserve for two years in the Secure Payments task force along with the Fed Payments improvement committee. Gilbert then began officially working within blockchain when he became a member of the EU Blockchain Observatory, working to build the proper policies and frameworks in the blockchain industry. Some other accolades under Gilberts belt include, being a member of the Digital Pound Foundation is a team put together to tokenize the British Pound, and being appointed as the Chair for DLT and UK Standardization Delegation of ISO/TC307.

Lara Verdian serves as the COO of Quant Network, Lara has had previous experience working as a director and consulting for companies such as director at Deloitte for nearly four years, medical affairs consultant at Pfizer for two years, and nearly seven years as senior manager and associates director at Eisai.

Peter Marirosans is the CTO of Quant, Peter has quite a strong tech background having worked as the Director for IT at Online Direct Limited, UK’s leading business energy aggregator, a B2B service for other energy businesses to scale and run their companies at the most efficient rate. Peter has also held a previous role as CTO at Mayfourth Holdings, an energy trading focused firm.

Luke Riley is the head of innovation at Quant, responsible for investigating and creating new features to add to Overledger. Similar to Peter, Luke has a tech oriented background fit for this position with working as a research associate at King’s College before being promoted to DLT Module Co-Leader. Luke then worked for Resilience Partners as CTO and DLT Advisor for three years before working at Quant. Neil Smith was the former CEO of Comcast Cable, where he helped develop the company to become one of the leading cable and broadband providers in the nation, will be serving as a board director for Quant.

Quant has built an overall very strong tech heavy team, as they will likely need all the knowledge in tech and finance they’ve gathered to fulfill their mission of universal interoperability down the line, as the idea to connect all networks into blockchains for enterprises and startups to utilize Overledgers limitless potential of building out multi chain application will not be a walk in the park.

Tokenomics

The $QNT token is regulated and acquired approval from FINMA to be registered as a utility token to provide access to digital products and services. $QNT will be the token that powers the functionality of Overledger, as to utilize the multi chain apps on the platform, users will be required to hold $QNT along with a license. To access Overledger, individuals and firms will have to pay a licensing fee that is payable in $QNT or fiat, but will be a fixed fiat amount. Developers who wish to build on Overledger will also need to purchase a developers license. The fees paid towards licenses are either paid in or will be converted into $QNT, and locked out of circulation into the treasury or smart contracts until the license expires. The $QNT treasury will automate the process of licensing, expenditure and distribution. As $QNT will be the medium of exchange in the ecosystem, each wallet containing $QNT also carries a digital identity of the user. Additionally, every transaction that takes place on Overledger will be secured and validated by $QNT tokens, as each transaction will be linked to their wallets digital identity.

While most cryptocurrencies have a means of reward through staking tokens to validators to secure the given network. Quant has designed the staking mechanism for $QNT differently through running gateways. To run a gateway, users will have to pay an annual fee fixed in fiat. Users can then run gateways to process and validate transactions, additionally, users can stake their $QNT tokens to increase the gateway capacity, allowing for more transactions that gateway will be able to process and validate, and in return more $QNT tokens.

While there were a total of 45.4 million $QNT during their May of 2018, they were unfortunately unable to sell most of the tokens offered due to a lack of interest. Thus, Quant eventually burnt the remaining tokens down to a current total supply of 14.6 million $QNT, with approximately 12 million $QNT out in circulation.

Partners

Quant is currently only allowed to announce partnerships approved by the other party, and due to this, a majority of their partners are under NDA. Though sources have claimed these NDA’s are from multinational authoritative entities across the world.

Perhaps Quant’s biggest public partnership is with SIA, the largest European financial network provider with their clients being over 550 banks and having managed over 51 billion financial transactions in 2018. This partnership will enable Overledger into the SIAchain network, thus allowing all of SIA clients to have access to blockchain and interoperability between different DLT’s. Quant is also joined by SIA in being a founding member of the INATBA, the International Association for Blockchain Applications. An organization for public and private developers to discuss and interact with regulators to promote the adoption of blockchain and DLT.

Quant has also partnered with Hyperledger, another member of the INATBA. An open sourced enterprise based blockchain project. Hyperledger is currently utilized by over 270 large enterprises and corporations for industry specific applications. Since the initial inception of Quant Network in 2018, they have had a connector for Hyperledger Fabric. This partnership will further allow Hyperledger’s DLT and blockchains to access Overledger into other enterprise or crypto systems. LACChain is a global alliance led by the Inter American Development Bank with the mission to accelerate the growth and adoption of regional based DLT networks. This partnership will play a role in development within the Digital Pound Foundation. The main goal of this partnership is for LACChain to access Overledger to build an interoperable system for fast and convenient cross border payments and settlements throughout the region by the tokenization of currency and assets.

Oracle is the global leader in software and data management and has decided to add Quant Network to their Global Start-Up Ecosystem. Being added into Oracle’s startup ecosystem gives Quant the opportunity to learn from the best in the industry, from offering software systems and products to mentorship. Additionally, Quant will be responsible for facilitating Oracle’s drive cloud based innovation for Oracle and their clients. As Oracle is currently the largest software and data management enterprise, this partnership will bring Quant the marketing and exposure to over 430 thousand clients. AWS, Amazon’s Web Services has also partnered with Quant to allow for customers the ease of interoperable blockchains while bringing Quant the exposure of the AWS market at over 1 million customers.

There are also crypto projects Quant has chosen to partner with. Some of these projects include AllianceBlock, Unizen, and Constellation Network. AllianceBlock is aiming to be the world’s first compliant and globally decentralized capital market and has partnered with Quant Network to allow a solution to the current limitations between chains by creating multi chain applications for swaps between multiple chains.

As Gilbert is on the advisory board for Unizen, the project has also seem to drawn his attention as Quant will be partnered with Unizen to utilize their Zen X Incubator for support and development for multi chain applications on Overledger along with setting up a gateway interface between the Unizen exchange and Overledger, this will provide compliant sources of deep liquidity and ease of access into the ecosystem from authoritative figures, and large enterprises.

Constellation Network is a Layer 0 platform aiming disrupt the current data industry, by allowing data to flow through blockchain and their Hypergraph for scalability and security. Constellation’s partnership with Quant to leverage the ability for clients to build interoperable cross platform big data, IOT, and AI.

Additionally Quant and Constellation will be working together to build interconnected cities. By interconnecting cities into one system, scenarios such as improved energy distribution, syncing all live and real world events into a system that updates in real time, and connecting all autonomous vehicles to communicate within a single system.

Potential

By allowing universal interoperability between not only blockchains, but any existing system or network, along with already working with enterprises and large corporations on such ambitious projects, such as SIA, Oracle and the Digital Pound Foundation. There is a very likely chance Quant could be as large to the development of our future as how Apple was in the last decade.

Currently Quant has the first mover advantage to not only building true universal interoperability, but also to begin working with large enterprises such as SIA and Oracle. It is likely these large firms see the technological potential and barriers Overledger would open up. With SIA’s robust ecosystem along with Oracle and Amazon’s customers, the adoption to utilize and integrate Overledger into existing and new systems being built within finance or technology could be rapid once enterprises realize the potential with interoperable DLT’s and connecting systems. The total addressable market for Quant and their system Overledger, can essentially reach out to as far as all of the technological sector. Hypothetically, as Overledger can host any number of clients at a single time utilizing Kubernetes to scale infinitely, while multi chain applications would remove the issues of cross border issues. Quant has already begun working with large financial authorities such as the FED, ECB, BIS and FCA to collaborate and build the foundation and railways for CBDC’s. Quant has already been announced as a guarantor for Pay.UK, the largest payment network in the UK, and Quant will be helping build the payment ecosystem along with adopting the New Payment Architecture. The utility of Overledger could range from multi chain applications within the finance industry, to interoperable DLT’s in supply chain industries, to interoperable systems and databases in the health care sector, while interconnecting cities and cars with IOT, and building decentralized social networks that are connected to current social networks.

As nearly everybody knows, Bitcoin is the clear “store of value” due to its mechanics of a 21 million cap and the narrative of digital gold, as Bitcoin seems superior to gold in every requirement for a store of value in terms of security, transferability, and holding value, as Bitcoin has statistically gone up 200% annually since inception. But what if there was something more scarce, and with more utility?

While Quant may not have the current network effect and adoption due to the simplicity of understanding of the network as Bitcoin currently does. At a total supply of 14 million and no inflation mechanism, the $QNT token has about 33% less supply than Bitcoin does. Accounting for the fact $QNT will be locked up from payments from developers along with being staked on gateways, the scarcity and supply shock seem like extremely likely possibilities that would begin driving the value upwards.

As a blockchain agnostic project, it provides enterprise grade DLT and network interoperability in an ecosystem where all users are incentivized to strengthen the network as it grows. Quant could potentially be the network of all networks, through connecting any isolated network into their evergrowing ecosystem of networks. Quant brings endless possibilities towards the future of all technology. As such authoritative entities are working with Quant along with the background of networks Gilbert has, issues with regulations are less of a worry to Quant than more traditional crypto projects. As time goes on and Quant begins to become more recognized for the utility Overledger can offer and more firms begin working with Quant to solve the issue of interoperability between systems along with the freedom and convenience of implementing their own chains.

If we take the approach of Metcalfe’s Law, where “the value of a network is proportional to the square of the number of its users”. Then account for the fact Quant isn’t simply connecting one part of technology, but rather every single system and network into a single system so they can interoperate and work within each other. Then according to Metcalfe’s Law, since Quant connects quite literally everything technology related together, the value of Quant Network should technically be infinite as new networks will continue to grow and need to be added within the system to communicate with other networks through Overledgers use cases.With the solutions for not only interoperability, but the freedom to build and create without limits, making Quant truly the network of all networks.

*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*

About Me

Hey, thanks for taking the time to read my work. I’m your average 20 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!

If there are any projects you’d wish to suggest me take a look into, I’m always available on Twitter