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Bitcoin digital money illustration. PHOTO/ IST
JAKARTA – The company behind platform RSK bitcoin-powered smart contracts and RSK Infrastructure Framework (RIF), IOV Labs, have announced a new ecosystem aimed at enterprises. This year, IOV Labs officially launched an online community in Indonesia.
IOV Labs’ first encounter with the Asian market was initiated through the establishment of the joint venture company IOV Asia, to promote SSR innovation in the Asian market. READ ALSO – Astronomers reveal the absurd technology used by aliens to spy on Earth
“RSK has been at the forefront of the Bitcoin Decentralized Finance (DeFi) movement. This movement is a natural extension of Bitcoin technology, which involves developing a new technological layer on top of the network. RSK enables the creation of smart contract solutions for Bitcoin users, who can transact on the network via secure bridging mechanism,” said Diego Gutierrez Zaldivar, founder and CEO of IOV Labs.
On September 30, 2020, IOV Labs and Grupo Sabra, two Argentine blockchain companies, announced their collaboration to form Extrimian, a joint venture blockchain . Together with Banco Santander, the Provincial Bank of Córdoba, and the BYMA stock market, they produced a blockchain proof of concept.
“One of the biggest difficulties facing cryptocurrencies like bitcoin is scalability. RSK can support an average of 10 transactions per second, compared to 3.3 transactions per second in Bitcoin,” explains Diego.
Diego added that by providing smart contracts and increased scalability to the bitcoin ecosystem, RSK is delivering value and extending functionality, laying the foundation for the financial system of tomorrow.
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