January 20, 2019 — ZAGG, an open-source project focused on maintaining privacy within the enterprise blockchain environment, hashas chosen to collaborate with DigitalBits for the development of their project.
DigitalBits is a protocol layer blockchain designed to help facilitate liquidity of various digital assets and integrate with apps to drive mass-market adoption of cryptocurrency.
That collaboration has come as ZAGG has reevaluated their original decision to work with Stellar due to a lack of support for necessary privacy requirements. The company have chosen instead to work together with DigitalBits and build their own public blockchain with on-chain privacy.
Zagg Protocol CEO, Ram Gollamudi said “DigitalBits and Zagg Protocol are collaborating to bring best of breed end-to-end Blockchain solution for enterprises to offer superior Loyalty programs to their customers that can drive better customer engagement and satisfaction.”
ZAGG is an open-source project focused on maintaining privacy within the enterprise blockchain environment. It works as a bridge between enterprises and developers to utilize the advantages offered by a common public ledger combined with the necessary confidentiality required in a private market. Enabling the creation of decentralized applications geared toward the formation of brand recognition and customer appreciation,
ZAGG represents an innovative approach to privacy within a public ecosystem.ZAGG approaches the issue of privacy through a three-tiered system that offers public, semi-private and fully private (peer-to-peer) solutions to fit the needs of any enterprise organization. As with some of the most advanced private blockchain protocols available, ZAGG utilizes advanced Zero-Knowledge Proofs (zk-SNARKS) technology to enable secure and private validation while avoiding double-spending.
“The DigitalBits team is excited to collaborate with this revolutionary project.” said Al Burgio, CEO of DigitalBits. “Together we hope to further advance the adoption of blockchain technology by fulfilling a much-needed requirement for privacy and compliance within the public blockchain sector.”
About DigitalBits:
The DigitalBits Foundation supports the DigitalBits™ open-source project by providing development resources, infrastructure, events and education. DigitalBits is a protocol layer blockchain designed to help facilitate liquidity of various digital assets and integrate with apps to drive mass-market adoption of cryptocurrency. DigitalBits’ mission is to help accelerate the rate of cryptocurrency adoption globally by integrating with existing user applications.The DigitalBits blockchain will achieve this by enabling large scale companies to integrate their loyalty and rewards programs and in turn migrate millions of active wallets onto the DigitalBits blockchain. For more information, please visit www.digitalbits.io
About ZAGG Protocol
ZAGG Protocol is founded by Raj N. Phani, a serial entrepreneur who has built successful businesses in the fields of Prepaid Payments, Internet, Retail and Brand Merchandising. ZAGG Protocol is building a powerful and flexible blockchain protocol for the GBRL Industry. The infrastructure is built for both consumers and businesses to seamlessly operate, execute and trade GBRL programs and assets on a global scale and make them liquid and monetizable. The protocol seamlessly evaluates the private and public transactions and accordingly executes the transaction over the global ledger or the private ledger. This seamless coexistence of public and private ledger on the blockchain provide the ideal platform for businesses, developers to bring powerful apps and services to end consumers. For more information, please visit https://zaggprotocol.com
This press release is for informational purposes only. The information does not constitute investment advice or an offer to invest. The digitalbits tokens, and most virtual currencies are not generally deemed to be legal tender in any country, and are not backed by any government as legal tender, nor should they be treated as such.
This announcement does not constitute a prospectus of any sort; it is not a solicitation for investment and does not in any way pertain to an offering of securities in any country.
This release constitutes a description of the DigitalBits Network and the functionality of digitalbitstokens; it is for informational purposes only and may change as the technology develops over time.