Blockchain Australia Solutions Partners Up With Algorand

January 09, 2021, 7:00 AM AEST - 10 months ago

Almost 3 months ago, Ralph Kalsi – an Australian blockchain enthusiast and investor became one of Algorand’s brand ambassadors.

Since then, his company Blockchain Australia Solutions has also become an official member of Algorand’s global partner program.

Only Regional Partner

For now, Blockchain Australia Solutions (BAS) is the only official partner of Algorand in the Australia and New Zealand (ANZ) region. BAS was brought into the partnership by Ralph Kalsi himself and Nadeem Shaikh (CTO) and Mohammed Naquib (CIO).

The Algorand blockchain — and it’s cryptocurrency, named Algo —  ensures true decentralization by using a Byzantine Agreement Protocol – also known in this case as a Pure-Proof-of-Stake consensus mechanism. The Algorand blockchain is also immune to forking.

Byzantine fault-tolerant protocols are algorithms that are immune to arbitrary types of failures in distributed algorithms. Due to the omnipresence of the Internet, there has been a need to develop decentralized algorithms that are immune to malfunctions.

Algo provides immediate blockchain transaction assurance by using high-speed block finalization. This quality alone makes Algorand highly useful to any business that was  — up until now — heavily dependent on the chain of intermediaries that support and secure transactions to a wide array of customers and employees.  

Algo’s ultra-rapid transaction delivery makes it scalable to billions of users, making it a potentially valuable tool in the banking industry. Expect to see the use of Algorand’s blockchain used by banks both decentralized and traditional within the following years. No matter how many Algo users there will be, the transaction speed will never fall below 4.5 seconds.

Blockchain Australia Solutions brings to the table a strong focus on research into blockchain technology and its applications — such as quality assurance, eco-friendly housing, and much more.

BAS is also a partner of Fintech Australia — which may provide the Algorand Foundation with plenty of networking power in Australia and New Zealand.

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