Fantom, SELISE partner to implement blockchain technology in the local financial sector
SELISE CEO Julian Weber signs partnership with Fantom Barrister Bangladesh representative Abdul Muid
Using Fantom’s powerful network, Swiss-Bangladeshi tech company SELISE aims to implement digital solutions in mobile payment, securities exchange, insurance and banking with seamless scalability. precedent without compromising safety and reliability.
Fantom Foundation and SELISE have teamed up to bring Fantom’s smart contract technologies to the financial services industry in Bangladesh.
Using Fantom’s powerful network, Swiss-Bangladeshi tech company SELISE aims to implement digital solutions in the stock market, insurance and banking sectors, focusing exclusively on mobile financial services.
They announced the partnership with the Fantom Foundation, which supports one of the world’s largest public blockchain networks, in November of this year.
In the presence of distinguished guests, the two organizations signed their official partnership at a ceremony held on November 30 in Dhaka, a statement read.
Fantom’s highly scalable smart contract platform, capable of executing thousands of transactions per second, helps facilitate the development of decentralized applications (dApps) that power a host of disruptive business cases.
It uses the latest and most advanced Distributed Ledger (DLT) technology with their unique Byzantine Asynchronous Lachesis Fault Tolerance (aBFT).
Unlike other Layer 1 blockchain networks not compatible with Ethereum, Fantom relies on the open source Ethereum Virtual Machine (EVM) technology stack for dApp developers, making it very convenient to release blockchain-powered software without having to become familiar with new programming languages and tools.
With fees of pennies on average, Fantom also solves Ethereum’s gas fee problem, making it the most cost-effective way to deploy and run sophisticated smart contracts.
Thus, Fantom becomes the first choice for fungible tokens (FT), non-fungible tokens (NFT), non-transferable tokens (NTT) as well as solutions focused on confidentiality in the fields of health, money transfer , microfinance and the central bank. digital currencies.
Fantom’s technology is also extremely efficient, using less energy to confirm transactions securely than a single average household in the United States, making it the green solution for blockchain applications.
“We follow Gartner’s Composable business model, where we combine our engineering capabilities with various third-party building blocks such as low-code platforms, artificial intelligence, PaaS and many more. We are delighted to add the Fantom Foundation, a global leader in innovation in the DeFi space, to our arsenal, ”said Julian Weber, CEO of SELISE.
SELISE works with clients around the world and in sectors such as insurance, healthcare, services, industry, consumer goods, telecommunications and logistics.
Through its unique methodology and market-based management philosophy, SELISE creates significant added value that helps companies achieve a more competitive position.
“It is crucial for our growth in real world applications to gain strong technology partners like SELISE who promote our technology to a large global audience and essentially implement blockchain-based solutions for businesses and governments around the world, ”said Michael Kong, CEO of Fantom.