NEW YORK--(BUSINESS WIRE)--Polkadot-based DAO platform Idavoll Network announced its partnership with Huawei, a global communications technology provider. The platform will be integrated into Huawei Cloud and become the leading blockchain partner for the company, providing consulting and tech support for all its future blockchain-related initiatives.
Blockchain is a perfect complement to the cloud: it adds an extra layer of security, offers transparency and traceability, and ensures data integrity. Many believe that the amalgamation of these two technologies is the future of digital business transformation. However, previous attempts to combine them met several issues – all related to the nature of blockchain.
First, decentralized networks have no single point of governance, which created a problem with solving legal disputes or assuming legislative responsibilities. Second, the lack of interoperability between ledgers made it impossible to build a full-fledged infrastructure around them. And third, the limited scalability of blockchain networks stood in the way of their growth beyond a specific transaction limit.
The partnership of Idavoll Network and Huawei Cloud International will facilitate the integration of blockchain technologies into the cloud, enabling a number of valuable features such as increased security and transparency, total traceability for data (e.g., who accessed, copied, or downloaded it), use of smart contracts, and one-point governance.
Upon the integration, users will have the freedom to choose the cloud or region to create and run their DAO services, share events infrastructure between companies, and get cluster access to structured, authenticated data within the platform – without compromising security by resorting to external services. Idavoll software will be available for download on the Huawei marketplace among over 3500 apps and offers from 13000+ industry partners.
By solving the main issues of existing blockchain-enabled cloud solutions and providing full compatibility of these technologies, Huawei and Idavoll open the way for both the evolution of the cloud and the adoption of the blockchain.
Founded in mid-2020, Idavoll Network is the first decentralized autonomous organization platform built on Polkadot substrate 2.0. Its unique governance solution based on smart contracts allows any company to reduce human coordination costs, keep track of financial interactions, resolve disputes with binary outcomes, and more. Furthermore, as a parachain of Polkadot, Idavoll creates a space where different blockchains can interact with one another, exchanging data or assets – and achieves easy scaling by spreading transactions across multiple parallel ledgers.