NEW YORK, NY – May 15, 2019: Today, ConsenSys-backed Kaleido launched over a dozen new enterprise tools, features, and capabilities to advance the business-to-business (B2B) collaboration of companies looking to reinvent their core payment systems, supply chains, commerce rails, financing, and cross-industry processes. Companies are embarking on large scale digital transformation and collaborating in new ways using blockchain’s shared ledger technology. Kaleido’s new B2B tech stack, a core component of its Blockchain Business Cloud backed by new asset tokenization and hybrid deployment services, provide the foundational platform that companies need to power their modern business networks in today’s emerging ecosystem economy.
There is a competitive advantage to participate in one of these new modern business networks, or consortiums, which can include operational improvements, differentiated new revenue streams, and ownership stake in new business models. Research by McKinsey shows that an emerging set of digital ecosystems could account for more than $60 trillion in revenue by 2025, or more than 30% of global corporate revenue. These emerging ecosystems of interconnected businesses will transform traditional industry borders, requiring companies to develop partnerships and reinvent their value chains.
Since its public launch at the Consensus conference a year ago today, Kaleido has delivered on its mission to speed and simplify the enterprise journey so that companies can benefit from the promise of decentralized technologies. Kaleido has helped deploy blockchain-based solutions across some of the world’s most recognizable brands, like T-Mobile, Kroger, Heineken, Sony, Fox, Citi, Shell, ING, MUFG, UnionBank, and many others, participating in live networks.
Steve Cerveny, Kaleido Founder and CEO says, “We are speaking about a historically unparalleled shift in value creation and economic profit. Blockchain has brought a radically better way for businesses to solve an age-old problem of transacting with trust and transparency. The leading networks we’re partnering with are realizing the benefits of this future before everyone else. Today’s announcement is a huge leap forward for enterprises evolving their business networks. Kaleido has uniquely brought together all of the necessary tools and technologies on our platform in a single, integrated B2B stack.”
Digital Asset Tokenization
Joe Lubin, Founder of ConsenSys and Ethereum Co-founder adds, “Last year we launched the world’s most advanced enterprise blockchain platform with Kaleido in order to take the complexity out of blockchain. Enter web3, which will take digital assets and tokenization to the next level on the blockchain. Ethereum is uniquely suited to allow physical and digital assets to be represented by almost-infinitely divisible, traceable, secure units of ownership. This year we’re announcing a major evolution of the Kaleido platform with new tools and services for web3-ready business networks, including tokenization.”
Digital transformation in modern business networks requires that assets be securely owned, transferred, and exchanged. While this has been very difficult to do on existing IT infrastructure, enterprises are now flocking to use custom tokens on blockchain-based systems to accomplish this. To help bring token activity mainstream, Kaleido is introducing a push-button-simple, industry-agnostic token platform where clients can easily issue different types of custom tokens to digitize assets with a new token factory, transfer ownership with atomic swap services, and automatically manage tokens with a new token explorer.
Jonas Hudson, Greenfence Co-founder says, “Tokenization is a game changer across media and entertainment, retail, telco and agricultural businesses where we operate. Tokens are the killer app for enterprise blockchain. We’re running marketing campaigns leveraging digital collectibles and digital coupons to drive deeper customer engagement than ever possible before, with campaign rates that have significantly exceeded industry benchmarks. Now, we are proud to announce GFT Exchange, a decentralized distribution for the exchange of digital collectibles and digital offer tokens, as well as the GFT Alliance, a consortium of IP holders and brands that protects IP and the brands’ promotional, marketing and licensing windows, and enables financial controls beyond the first “sale” for these tokens. Kaleido has been a key partner for us. As we look to create an exchange across public and private blockchains to drive even more value with branded collectibles, Kaleido is continuing to lead the way in the industry.”
Justo Ortiz, Chairman of the Board of UnionBank shared, “We are offering a Bank-in-a-Box platform to our rural banks and network participants. This will allow various key services to be available to the network - payments, domestic and cross border, identity, credit, to name a few. And to power these services is a banked-backed token on the blockchain to facilitate exchange of value across the i2i network. This has been approved by the Bangko Sentral ng Pilipinas. UnionBank also is opening up the Singapore-Philippines corridor with a payments solution running on Kaleido.”
Hybrid Deployment for Borderless Blockchains
As diverse business networks such as these scale from pilots to production, they bring their own pre-existing investments in cloud, IT structures, operating preferences and data residency requirements. Decentralized ownership of the network across clouds, regions, and companies’ private nodes is a foundational enterprise blockchain requirement.
Kaleido is complimenting its multi-cloud platform with a hybrid capability to uniquely fill this need. Kaleido is already the industry’s only seamless and integrated experience across Amazon Web Services, Microsoft Azure. Kaleido Private Stack, a new extension to the platform, lets a member of a business network join and run a node from anywhere they choose including on-premise data centers to enable truly borderless blockchain networks. As an example, now, large members can run behind their firewall in their own datacenter and securely and seamlessly transact with other members running on Kaleido in AWS and Azure.
Souleima Baddi, CEO of komgo, an open financing platform for commodities trading, says, “No individual cloud provider can provide a service level agreement beyond the edge of their network. We needed a partner who could provide enterprise-grade levels of service, reliability, performance, and security across our entire decentralized network. Not only did Kaleido power our ability to go into production for letters of credit in record time - only four months after forming komgo and at multiples of the speed faster than any blockchain-based trade finance network- they have turbocharged our ability to seamlessly onboard the next set of global industry leaders joining our diverse network.”
Kaleido is launching a number of other services across its B2B tech stack, all available via plug-and-play production-ready infrastructure to help accelerate projects. They include: the Asset Registry, Address Book, Eth Firewall, Event Streams, App to App Messenger, Document Store, Enterprise Connectors, API Gateway and Eth Wallets for apps. These capabilities remove much of the burden from enterprises of the heavy lifting and specialized skills needed to build decentralized applications. A single API, security, operation and tenancy model makes for a dramatically simpler, more reliable, and cost-effective solution than rolling your own.
Expanded Plug and Play Blockchain Marketplace
In 2018, Kaleido launched the industry’s first enterprise blockchain marketplace and continues to pull in leading innovations from the ecosystem. New technology partner announcements include curated data oracle Rhombus, pay-as-you-go plan for the OpenLaw legal smart contract toolset, and Pantheon, PegaSys’s Java-based blockchain software now available in Kaleido with support for both PoA and IBFT consensus. Additionally, an updated version of the popular decentralized oracle service Chainlink is now available, and Quorum, the blockchain software from JPMorgan, now includes the next generation Tessera component for private transactions, with enhanced security and resiliency.
Kaleido also added a new category in its marketplace for tools that empower developers to build faster and better. Truffle, the leading developer tool for blockchain, was added with new ease of use extensions for Kaleido. Metamask has been integrated to sign from the browser and deploy directly to Kaleido from the online toolset Remix.
Kaleido announced new tools for Shared IT and DevOps across a business network, adding to a console that is the most sophisticated and intelligent in the industry. Kaleido offers ten times the number of APIs compared to other managed blockchain services in the market. Kaleido launched the environment metric dashboard to give companies a rich view of the health and activity of the entire network at the chain, node, compute, and storage layers, as well as to detect anomalies faster and do smarter DevOps on Kaleido.
Advanced Enterprise Capabilities
With a strong focus on enterprise requirements, Kaleido announced its dedicated consortium offering for clients who require the highest degrees of isolation, providing the configuration, ownership and governance flexibility designed for the modern business network. As companies look to move past their initial proof of concepts to real production deployments, Kaleido also announced services available to speed migration onto Kaleido.
Kaleido is available today, try it for free at kaleido.io.
Kaleido, a ConsenSys Enterprise Business, is an award-winning full-stack SaaS platform for building and running live blockchain networks, dedicated to making blockchain radically simple for organizations to adopt so that our societies will fully benefit from decentralized models and new trust systems. Kaleido is collaborating with cloud leaders Microsoft Azure and Amazon Web Services to offer its Blockchain Business Cloud in one native experience, with hybrid deployment and dedicated blockchain marketplace to accelerate the entire enterprise journey from exploration, proof of concepts and pilots to live production business networks. For more information, visit www.Kaleido.io.
ConsenSys is focused on driving digital architectures toward a more open, inclusive, and secure internet of value, commonly called Web3. With a more trustworthy internet architecture, we are helping enterprises and governments unlock new business models and value, gain efficiencies through a shared IT infrastructure, and utilize modern cryptographic methods to safeguard private user data. We accomplish this through our unique global business developing Ethereum blockchain, comprised of a startup incubator, Enterprise Ethereum consulting arm, and investment fund.
The venture arm of Consensys.