Open-source blockchain technology for business and organization
Parity is developing the Parity blockchain platform to enable businesses and organizations to use blockchain technology and benefit from the new opportunities it presents. Parity develops state-of-the-art software solutions for enterprises and industries to unlock the full value of blockchain and decentralized technology. The company said that they believe decentralized technology has the power to fundamentally change and enhance the systems used by businesses, consumers, and governments every day.
According to the website, with the help of its investors’ Parity has developed various solutions such as on-chain governance protocol upgrades, Proof-of-Authority consensus, private Ethereum transactions, warp sync and pruning, and more. All of their products are open source and the community can contribute to the development. This will help with code verification and allows the community to participate and help the project to grow even further.
One of their biggest projects is the blockchain-based technology developed for the UN World Food Programme. In this project, Parity’s blockchain technology makes the transfer of cash assistance faster, cheaper, and more secure. By the end of 2018, the technology will help over 106,000 refugees receive assistance.
According to Crunchbase, Parity a.k.a Parity Technologies has raised a total of $5.8M in funding over 2 rounds. The latest funding round was finished on January 8, 2019. Parity is backed by some notable investors such as Ethereum Foundation and Fenbushi Capital. The company itself was founded in 2015, with headquarter located in London, United Kingdom.