The Wall Street Blockchain Alliance has just welcomed Algorand as a new member. The proof-of-stake crypto platform joins the ranks of WSBA as a corporate member. Lately, Algorand has been making quite the waves, whether it is blockchain developments or industry partnerships.
Very proud to announce that @Algorand is the latest corporate member to join @WallStreetBTC ! Looking forward to working with them to help #financialmarkets realize full power and potential of #blockchain ! Check out our press release: https://t.co/aQmLFp0ede
— Wall Street Blockchain Alliance (@WallStreetBTC) April 23, 2020
As per the WSBA official announcement, Algorand is already working with the various firms associated with the WSBA. The newly-formed alliance aims to boost innovation in the blockchain solutions that focus on financial markets. Their goal is to expand the blockchain-based financial technologies ranging from trading solutions to custody services.
Wall Street Blockchain Alliance to boost blockchain adoption in the financial sphere
Chairman of the Wall Street Blockchain Alliance, Ron Quaranta, said that the new alliance is mutually beneficial to both the entities. He adds that the solutions provided by Algorand are precisely what the Wall Street Blockchain Alliance appreciates and wishes to promote. Algorand technologies are well suited to be developed for blockchain adoption across monetary markets.
He further heaps praises on Algorand founder Silvio Micali stating that his excellent work is renowned in the cryptographic world. Algorand represents a pure proof-of-stake that will be extremely helpful in creating the next-gen decentralized economies. Algorand’s W. Sean Ford also echoes similar sentiments and says that WSBA’s unique approach is an ideal platform for industry leaders to achieve a more potent financial industry related to blockchain solutions.
Algorand emerging as a leader in blockchain solutions
Ford added that Algorand is providing solutions that accelerate blockchain adoption in the financial sector. The firm is well-positioned to leverage the next-gen initiatives in the crypto sector and brings a fresh perspective to the Wall Street Blockchain Alliance.
Lately, the Algorand brand has earned good respect from the blockchain community. In March 2020, blockchain finance firm Eterna and Borderless Capital joined hands together to work on ‘Eterna Borderless Venture Studio,’ which gives support to Algorand platform projects.