Phaeton announced the launch of a range of Blockchain technology solutions today to a global customer base, pivoting from the country of Australia. The project covers holistic Blockchain solutions across data storage and management, ICT, IoT, Real Estate, Building Energy Designs and Tangible Non-Fungible Tokens (TNFT).
This will be the first set of products built on her proprietary Phaeton Blockchain, a green and eco-friendly Blockchain powered by off-grid renewable energy from various renewable energy sources.
Speaking about the company and her technology, Ron Forlee, the Chief Executive Officer, described the company’s technology as ‘a Blockchain technology based on solidarity and putting people before profit with a structure that aims to benefit communities in need. With the Phaeton Blockchain network, we have reduced the energy consumption and carbon emissions associated with transactions to a level in line with the net-zero carbon objective of the Sustainable Development Goals.’
‘We are building solar farms, hydrogen gas storage and wind turbine to power our data centers. This is in addition to modular products that come with wrap-around solar solutions. We also use hydroelectric and geothermal energy for backups and cooling,’ he added.
Through her whitepaper, the company has described her processes as transparent, efficient, secure and trustworthy. The Phaeton Blockchain, a decentralized ledger with a 250kb block size and five-second creation time, uses Delegated Proof of Stake and Delegated Byzantine Fault Tolerance consensus algorithm to improve energy efficiency. Leveraging this technology, the company has made strategic partnerships to provide Blockchain backed solutions in Real Estate, Data Storage and Management, Building Designs & Smart Housing, the Internet of Things, and Smart Cities.
The company is committed to producing Blockchain backed solutions across finance, health, environment, real estate, retail, entertainment, and manufacturing sectors with zero carbon footprint through the use of green and eco-friendly energy sources for its operations.
A side chain functionality of the Phaeton Blockchain also enables other businesses and entrepreneurs to build their products on the Phaeton Blockchain. Other functions described in the technology whitepaper include the Phaeton Identity to secure wallet authentication even further with biometric functionalities and the Phaeton coin that is the governing token of the Phaeton blockchain.
Through this green-powered Blockchain technology, Phaeton aims to redefine the usability, functionality and public comprehension of Blockchains.
For more info, visit www.phaeton.io
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