Mumbai: ZAGG Protocol, a privacy-preserving open source blockchain platform is all set to introduce technologies to revolutionize enterprise commerce market.
It empowers the enterprises to execute transactions on public blockchain with required privacy and confidentiality. This protocol will help both enterprises and the developers to leverage the common public ledger, privacy frameworks to innovate and develop new applications that drive customer value and brand revenues.
With an aim to take blockchain mainstream, ZAGG Protocol’s first target applications are in B2B2BC centric industries that can leverage ZAGG infrastructure as a fully decentralized clearing and settlement infrastructure.
Enterprises are increasingly looking at innovative ways to engage, retain and grow their customers acquired directly or through the channel and ZAGG Blockchain is the ideal platform for enterprises to issue, manage and provide a trading platform for enterprises backed assets/currencies.
High transaction speeds, low latency, in-built privacy and smart contracts on a public blockchain provide flexibility issuance, redemption, and tradability of enterprise currencies. Target applications are in industries ranging from financial services like insurance, bank rewards to commerce businesses such as gift cards, loyalty etc.
“ZAGG Protocol is designed to leverage the blockchain technology to efficiently use for payments & trade digital assets for the enterprises on a public ledger and yet maintain privacy. ZAGG Blockchain which started as an application level project to solve the inconsistencies in the enterprise payment market soon discovered an unmet need in the market for an enterprise friendly privacy-preserving public blockchain,” said Ram Gollamudi, CEO – ZAGG Protocol.
“We have a team of technocrats from IITs, top-tier MBA grads and Fintech experts, who have a complete understanding of our markets, technology, and business processes. Through ZAGG Protocol technology we have realized that the privacy on a public ledger problem is at a more fundamental level across a wide range of industries. The protocol infrastructure technology solution developed by our researchers is designed to solve the real world problems faced by the industries,” added Gollamundi.