Energy Eco Chain (EEC), a Singapore-based technology company, unveiled the ET hybrid blockchain digital wallet to create the best asset digitization platform and enterprise application development.
"Compared to blockchain 1.0 such as Bitcoin Network and blockchain 2.0 such as ethereum, ET hybrid chain technology has three advanced features that are categorized as blockchain 3.0," said Chief Operating Officer of EEC Foundation Tony Huang in his statement.
Tony explained, ET hybrid chain is a flexible smart contract, including asset digitization, financial management, and trading of distributed assets, and others.
"ET hybrid chains have comprehensive digital asset security systems, for example, can provide multi-signature functionality to digital wallets so that multiple decision makers can jointly manage digital assets, making digital asset ownership not just individuals," explained he.
In addition it also provides a customized corporate approval process that can reduce the possibility of human error and fraud.
If a private key holder can not perform his / her responsibilities due to unforeseen circumstances, the security system will provide protection and recovery mechanisms for the company's digital assets.
"ET hybrid chain is shown with effective scalability Based on hybrid blockchain-based technology architecture, ET hybrid chain has both public and private blockchain characteristics In public areas, basic data can be transmitted and processed safely and transparently," he added.
In private areas, sensitive data and financial data will be protected. In addition to privacy protection, private blockchain makes the process faster and more effective with transactions per second reaching 2,000, enabling many enterprise-level blockchain applications to operate permanently in hybrid blockchain ET.
According to the Head of the Batam Agency for Free Zone Authority (Lukman Dinarsyah Tuwo), the launch of the ET hybrid chain is an important strategic partner as Batam's Smart Digital Economy Initiative (SDEI).
"This is the progress of developing advanced EEC technologies with speeds beyond what we expect, I look forward to applications based on this cutting-edge hybrid blockchain technology that can be well implemented in the field of digital finance hub development, as well as the promotion of e-government infrastructure and services," he said. .