Applied Blockchain spinout Fern shows value of technology, announces token sale
Many UK businesses aren’t making the most of the security and trust advantages brought by blockchain technology according to Applied Blockchain, one of the UK’s leading developers of distributed ledger technology and smart contract specialists, with over 20 startup and enterprise clients including Shell, who recently invested in the company.
“A lot of companies are trying to shoehorn blockchain into existing models and, as a result, it is not being utilised effectively, nor does it maximise the advantages that the technology can bring. Instead, enterprises should be looking at blockchain technology as a structural industry step-change – and reshaping their current business models around it. Businesses most-accommodating of the technology, and most-willing to adapt to it, will provide their customers with the most efficiencies, and they will therefore see the greatest long-term benefit,” said Adi Ben-Ari, Founder and CEO at Applied Blockchain.
In May this year, Applied Blockchain launched Fern, a smart contract protocol for decentralising private blockchain networks.
“Blockchain is all about increasing security and trust for end users, and, understandably, enterprises are nervous about taking such an evolutionary step in decentralising assets and processes,” said Adi Ben-Ari.
“Thousands of enterprise blockchain solutions are deployed today in private networks, but these are typically controlled by one, or a very limited number of parties,” added Adi Ben-Ari. “Blockchain technology distributes control to a group of independent parties to increase security and trust, but the current level of centralised control undermines those benefits.”
Fern takes a novel approach by creating a new trustless ecosystem of identified, verified and compliant network participants. This unique solution promises to be the first to deliver the real value of blockchain to the enterprise world. Prior to launch, Fern already has 10 blockchain companies signed up along with 2,000+ registered prospective users.
The company announced a limited sale of FERN ERC-20 tokens that will be required by participants to gain access to the ecosystem and use the protocol.
Founded in 2015, Applied Blockchain has a significant track record in helping enterprises across multiple sectors ranging from aviation, banking, telecoms, automotive and manufacturing to evolve and make best-use of blockchain as the technology is increasingly being explored as a safer, more secure and transparent means of operating.