Archethic Technologies, a new divine blockchain after the FTX scandal

While Nobel Prize in Economics Paul Krugman predicts the end of blockchains, Archethic Technologies launches a new blockchain, why?

At the risk of contradicting the Nobel Prize winner, I predict on the contrary that it is the Internet, as we know it, that is living its last days. There is an element of disconnection in not noticing it.

The Internet as it is built today is a powerful tool, it has enabled great developments, but it is becoming obsolete. Internet technology is more than 30 years old. Whether it is the environmental impact, the lack of protection of our personal data or the monopoly situation of Gafam, the current Internet is undoubtedly a failure. This is why we decided, almost 5 years ago together with several cybersecurity and banking players, to create the foundations of a new decentralized Internet based on blockchain technology. Archethic blockchain is the first step.

There are already hundreds of blockchains, what will make the Archethic blockchain unique?

Our blockchain emphasizes safety. With the biometric identification we do, user data is unverifiable and inviolable. Moreover, in the era of the centralized Internet, if a server encounters a problem like what happened with the OVH servers, you risk losing your data. In the age of the decentralized Archethic blockchain, this is simply impossible. Our technology is also the greenest available. It is 42,000 times better than any other blockchain. Finally, unlike other blockchains, Archethic has a universal reach and wants to be accessible to everyone so that citizens can take back control of the technology: our blockchain does not require prior computer skills. You can make it your own right away.

Your blockchain is the culmination of several years of research and the adoption of numerous patents. What are your links to the CNRS in this project?

We have worked closely with the CNRS and specific researchers in building the ARCH consensus at the base of our blockchain. It ensures maximum security by fighting external attacks.

In addition, our work is based on 12 patents filed worldwide. 5 of them aim to work on replacing all passwords with tamper-proof biometric identification, 5 others are based on the Archethic blockchain and the last 2 cover the migration of existing applications (emails, websites, marketplaces, etc.) on our new network.

What are the main use cases that can be developed with your blockchain?

Our blockchain represents a great opportunity to debureaucratize everyday life.

With smart contracts, our blockchain simplifies transactions. We are working, for example, on interbank KYC (Know Your Customer), which will allow banks to validate data between them without you having to send the same information several times. Ditto for e-commerce platforms where it will be easier for you to sell your products and services.

You say you want to found a new universal internet of trust, explain to us.

Think of the number of passwords you have to remember for each website! We decided to develop a new offer, which is a decompartmentalized, interoperable internet, in one word: great. Starting from the blockchain, i.e. from decentralized and inviolable blocks, we ensure transparency
increased, guaranteed certification, in other words, the return of confidence in the Internet.

For all these reasons, we have included in the genesis block of our blockchain the Universal Declaration of Human Rights to which we have added the 31st article that provides for Internet neutrality and the fundamental freedoms of women and men. This article corresponds to our philosophy and it is important for us to engrave it in the marble of our blockchain.

What are the next steps for this project?

From next January, we will launch the bridge, an operation to connect our blockchain to the rest of the ecosystem. We also aim to raise funds to continue and accelerate the deployment of the Archethic ecosystem and biometrics in particular.

Leave a Reply

Your email address will not be published. Required fields are marked *