Reltime, an Oslo, Norway-based blockchain technology company, received a funding approval from the Research Council of Norway.
This endorsement and financial support have been received for Reltime’s three-year development initiative on “Using 5G Mobile Handsets as node validators in Reltime’s Layer 1 Blockchain for Microtransactions.”
Led by CEO & CFinSMEDzo-Founder Marlene Julo, Reltime provides an Web3 platform based on own Layer-1 Proof of Authority Blockchain with zero transaction and gas fees. The platform includes a range of applications such as non-custodian wallets, SuperApp, loyalty programs, payment solutions, lending services, QR codes, CBDCs and digital fiats, and utility tokens. Additionally, the platform provides customer administration features like eKYC, identity management, SLA, and reporting. By incorporating a decentralized identity, Reltime is driving the next generation of digitization in supply chain management, tokenization, asset ownership, and global trade.
In June 2023, Reltime had confirmed that it has performed an initial pilot in using 5G handsets as node validators in its layer-1 Proof of Authority Blockchain and would continue to develop this solution. This project aims to integrate the massive computing and scaling power of 5G mobile handsets (as node validators in a layer 1 blockchain) and revolutionize the use of blockchain in handling microtransactions.
Top 3 Project Highlights:
- Innovative Integration: Utilizing the advanced speed and connectivity of 5G handset technology to enhance blockchain efficiency as Node validators, instead of using traditional servers.
- Enhanced Microtransaction Capabilities: Focusing on the growing demand for swift and secure small-value transactions e.g., IoT, machine-to-machine transactions, rural markets.
- Connect the existing Layer 1 Proof of Authority Blockchain with Mobile handset Node: A step forward in blockchain technology, emphasizing security, speed, and reduced environmental impact.
FinSMEs
12/12/2023