Dutch blockchain technology company, Quantoz has revealed to Allcoinsnews that it has been selected as one of the winners of the Bird & Bird ‘Disruptive Technology Challenge’ for this year. Quantoz has developed software and apps based on blockchain technology and has spawned spin-off companies including Nexus, Happycoins exchange and QuantozPool liquidity service. Last month it reported good progress on two of its blockchain-based solutions, Quasar, a digital currency solution that delivers rapid payment and transaction infrastructure, and SPUR, a protocol that makes electronic payments possible to devices that are not connected to the Internet.
Areas of the Quasar digital cash solution were highly praised, in particular the ‘technology approach’ and the ‘innovative aspects’, which were both rated ‘excellent’. His means that Quantoz will be participating in the Bird & Bird mentorship program and will be presenting Quasar at the CeBIT in Hannover and the Bird & Bird Annual Tech Day in London in 2016.
In addition to this news, Quantoz also mentioned the release of a report by co-founder and CTO Gaston Hendriks, entitled ‘How micro-payment technology enables the circular economy’ stated that we live in an unsustainable linear economy where we use and discard a great number of things; however, a circular economy would be viable. Circular economy has products that are designed to be waste free, sustainable and recyclable but currently no feasible method of running a pay-per-use model for micro-services. The combination of mobile payment options with blockchain and digital currency will allow companies to provide products that are rarely used for the average household or company to be rented out cheaply enough to be used and still make a profit for the owning company.