Lenovo is the latest tech company to join the increasing queue of industries partnering with blockchain-oriented companies to develop new services and products.
The blockchain enterprise, Credits, recently announced on their official website their new partnership with the multi-billion company, Lenovo. Credits is known for its vast implementation of AI and blockchain in an extended range of services and products it provides a host of companies.
Together, the two companies would be working extensively on the development of a hybrid software integrated with the Internet of Things (IoT) and AR/AI services. The hybrid software, when completed would be used in a number of different fields and sectors including financial technology enterprises and logistics. The founder and CEO of Credits, Igor Chugunov, stated in the press release that:
“The Internet of Things and augmented reality are already changing the way we interact with the world. We are excited to partner with AR titan Lenovo New Vision. I see the combination of AI/AR and IoT revolutionizing the business environment.”
Credits and the New Vision Technology
The Lenovo New Vision Technology is a subsidiary of Lenovo Capital. The branch which is concerned with the implementation of AI and AR technology across wide areas of interest is a pioneer AR-solutions provider as far as the industry is concerned; in terms of platform development, system integration, hardware support, amongst other services.
Credits according to its website claims to be “the fastest and most scalable blockchain platform for DApps.” The enterprise specializes in different services that are geared towards startups in need of releasing their DApps.
According to Credits’ official release, the platform would be assisting Lenovo by employing their blockchain expertise to build software that would be applicable in the combination AI/AR and Internet of Things (IoT).
Why was Credits Chosen?
The autonomous blockchain platform revealed on its website that it was mainly chosen, amongst a host of other possible candidates, because of its unique features. According to the press release:
“Credits [has] been chosen by Lenovo New Vision Technology thanks to its distinctive technical solutions, such as [a] unique consensus algorithm which consists of dPoS (delegated-proof-of-stake) and BFT (Byzantine Fault Tolerance) features.”
According to the report, the platform Credits has built, by normal standards, is very much impressive. The blockchain platform can perform more than a million transactions per second while maintaining a processing speed of 0.01 seconds. When commission rates are considered, a value as little as $0.001 is also sincerely generous. Other functionalities that the platform has implemented provides the possibility of setting cycles and creating schedules in smart contracts.
It is only good news for Credits as its number of partners continue to increase at an impressive rate. As of the time of writing this article, Credits already has more than a hundred startups that have integrated Credits’ platform to develop their own services.