Multi-Blockchain Token in Works by Non-Profit
The non-profit Internet of Coins, a technology development organization, is working on a new token that allows digital transfers without the need for updating source code.
Call “Hybrid Asset,” the new token is envisioned as an inter-systemic, cross-blockchain token that enables transfer of value between blockchain systems without updates or adaptation of existing cryptocurrency source code. The development project was unveiled at an industry conference in Europe.
When fully functional, the Hybrid Asset would allegedly spread the risk from holding any value on a single blockchain by storing assets on multiple chains. This, developers claim, would mitigate any technical risk and hedge against volatility in any one cryptocurrency.
“With this system, we aim to make everyone an exchange,” said Robert de Groot, the co-founder of Internet of Coins. He went on to say that the Hybrid Asset would make exchanging value “as easy as swapping files. We aim for Internet of Coins to become the Bittorrent of cryptocurrencies and asset systems.”
The project also announced Coinstorm, described as a launch campaign that will seek collaborations outside the Internet of Coins organization on the Hybrid Asset development. As part of that, there will be a crowdsource fundraiser on March 21. The platform has early-bird options available for investors, and is offering a five percent discount during the crowdsale.
