Home > Tech Trends > Blockchain / Crypto > AOI Becomes First Luxembourgish Corporate To Join Tezos Blockchain Network

AOI Becomes First Luxembourgish Corporate To Join Tezos Blockchain Network

Autonomous Open Innovation (AOI) became the first Luxembourg-based company to join the Tezos ecosystem as a corporate baker, Tezos’ equivalent of proof-of-staking. AIO joins Ubisoft and others in validating transactions on the Tezos Blockchain.

Image credits: Shutterstock

Although the crypto craze has slowed down, blockchain platforms and technologies appear to be as alive as ever.

Tezos is one of these platforms. While its market cap of US$7.33 Billion does not make it the most valuable altcoin, Tezos has been steadily generating buzz since its ICO in 2017. It markets itself as an open-source platform which aims to address key barriers facing wider blockchain adoption for assets and applications.

This, along with some of its other defining characteristics, has drawn the attention of Luxembourg-based “think-tank and innovation programme” AOI. As the offspring of the professional services provider PARTNRS and the consulting company INNO, AOI aims to expand the range of solutions it offers to its clients – with a special focus on blockchain, tokenization, sustainable finance and AI.

“Open-source innovations, such as participating in the governance of the Tezos network, are not only a compelling concept, but are also a robust business case as reflected in our decision to become the first Tezos corporate baker in Luxembourg,” says Wesley Deglise, Director of AOI and INNO representative.

The Tezos Ecosystem

What differentiates Tezos from the gazillion other altcoins out there is its democratic governance structure. Whereas most other altcoins have to engage in hard forks when going through updates, Tezos on-chain governance system is built more efficiently. Indeed, by relying on a system where participants can vote on improvements, Tezos minimizes network disruptions and guarantees a smoother experience.

Having gone through seven network upgrades already, Tezos has managed to reduce gas fees by 70%, improve token standards and increase transaction speeds. For AOI, these benefits, as well as its accessible applications and products, are a real bonus.

Committed to launching more services in the near future, AOI is eager to become a pro-active participant in the Tezos ecosystem, joining brands such as Red Bull Racing Honda, McLaren Racing and Ubisoft.

You may also like
Proptech And Tech Legal Issues
Scorechain Raises €2M To Accelerate Global Growth
Infrachain Summit 2021: Decrypting New Blockchain Use Cases
Talkwalker Acquires Reviewbox And Expands Its Reach