Concordium is a public-permissionless layer one blockchain with leadership from Volvo, IKEA, Credit Suisse, and more. To date, it has raised 52M EUR, and partnered with Geely, a global automaker and co-owner of Volvo Cars, Volvo AB, and Daimler.
Concordium embeds encrypted ID into every on-chain transaction, making it part of ID credentials available to smart contracts, whilst preserving privacy. But why does ID even matter? In the next decade, every person and company will use decentralised services in order to verify almost everything on the blockchain. Modern pioneers are trying to build for this mass adoption of Web3, however, they need trust to make it all work. Whether we are online dating, gaming, or trading, we need to know who the other person is. With a built-in ID layer, people and companies will be able to verify one another in confidence, while remaining private, to conduct safe transactions on the first blockchain that will unlock a global, multi-trillion-dollar economy. By leveraging zero-knowledge proofs, Concordium is able to provide users complete privacy while using the blockchain, and ensure accountability. With a unique finality layer, Concordium makes it impossible for rollbacks to happen.
The platform’s native coin, CCD, is used for paying transaction fees, staking, rewards for node operators, and as a collateral/settlement medium for Concordium’s DeFi landscape. The team consists of key leadership with significant experience that have both built and worked at some of the largest companies in the banking, finance, and crypto industry, and are now scaling the chain to their extensive network of the world’s biggest enterprises.
