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Evrynet Joins FDCI And Integrates SPEEDEX Into Its DEX DApp -Breaking

by Mike Robinson

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Evrynet joins FDCI and integrates SPEEDEX into its DEX DApp
  • Evrynet said it would join the Stanford Future of Digital Currency Initiative.
  • Evrynet has integrated SPEEDEX technology to the Evry.Finance.DApp.

Evrynet is an intelligent financial platform that announced its intention to join the Stanford Future of Digital Currency Initiative, (FDCI), as the last member of the Stanford Future of Digital Currency Initiative. This will allow it to assist in developing universal digital currency APIs.

This platform, which aims to offer features that are friendly to institutional inventors, joins the existing member list like Celo and Algorand Foundation. IBM Stellar Development Foundation (NYSE:)

In a press release, the team says that the objective of this move is to collaborate with Stanford’s FDCI and incorporate the SPEEDEX technology into the upcoming Evry.Finance decentralized exchange DApp — the first DApp developed by Evrynet.

The press release stated that the DEX would improve its transaction speed, and have a general throughput up to 100,000 transactions per minute via SPEEDEX.

Evrynet has also named Muharem Hrnjadovic as its CTO. He was previously Chief Technology Officer (CTO), of Sygnum AG and Monetas. Evrynet noted that its next phase will be in development and traction, with Sam Wong as technical lead and Geoff Ramsayer as advisory board members. Geoff and Sam worked together closely on the development of SPEEDEX technology.

Deeper, Professor David Mazieres weighed in on the news and expressed these thoughts:

Stanford Future of Digital Currency Initiative is working towards ensuring digital currency APIs can be open for innovation, and that people are able to use them to their full potential. It is important that everyone can participate on an equal basis in global economic activities, regardless of whether they are using a foreign currency.

Adding to this, Mazieres emphasizes “SPEEDEX takes a giant step in this direction by providing fast, fair, and economically efficient asset exchange at layer-1 in decentralized blockchains. We are delighted that Evrynet has embraced this technology and will be deploying it in a production setting.”

Evrynet continues attracting attention from people in the blockchain sector. Evrynet secured $7 million of private financing earlier this year to help develop the DeFi app for institutional investors.

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