Interview | Archethic Technologies, New Efficient Blockchain After FTX Scandal

While Paul Krugman, Nobel Laureate in Economics, predicts the end of the blockchain, Archethic Technologies has just launched a new blockchain, why?

At the risk of objecting to a Nobel laureate, on the contrary, I predict that it is the Internet, as we know it, that is living its last days. There is a part of alienation in not noticing it.

The Internet as it exists today is a formidable tool, it has made significant progress, but it is becoming obsolete. Internet technologies for over 30 years. Whether it’s the environmental impact, the lack of protection of our personal data, or Gafam’s monopoly position, the current Internet is clearly failing. That is why, almost 5 years ago, we decided, together with several players in the field of cybersecurity and banking, to create the foundations of a new decentralized Internet based on blockchain technology. The Archethic blockchain is the first step.

There are already hundreds of blockchains, what can make the Archethic blockchain unique?

Our blockchain focuses on security. With the biometric identification we are working on, user data will be unfalsifiable and inviolable. What’s more, in the age of the centralized Internet, if a server has a problem, as happened with OVH’s servers, you risk losing your data. In the age of the decentralized Archethic blockchain, this is simply not possible. Our technology is also the most environmentally friendly available. It is 42,000 times more efficient than any other blockchain. Finally, unlike other blockchains, Archethic has a universal reach and wants to be accessible to everyone so that citizens can regain control of the technology: our blockchain does not require prior computer skills. You can do it yourself instantly.

Your blockchain is the culmination of several years of research and the adoption of numerous patents. What connections did you have with CNRS on this project?

We have worked closely with CNRS and in particular with a researcher to develop ARCH consensus based on our blockchain. This provides maximum security by protecting against external attacks.

In addition, our work is based on 12 patents registered internationally. 5 of them are aimed at replacing all passwords with biometric identification with protection against unauthorized access, 5 others formed the basis of the Archethic blockchain, and the last 2 cover the migration of current applications (mailboxes, websites, marketplaces, etc.) to our new network.

What are the main use cases that can be developed on your blockchain?

Our blockchain represents a great opportunity to de-bureaucratize everyday life.

Thanks to smart contracts, our blockchain simplifies transactions. We are working, for example, on interbank KYC (Know Your Customer), which will allow banks to certify data among themselves without having to send the same information several times. The same goes for e-commerce platforms where it will be easier for you to sell your products and services.

You say you want to found a new universal internet of trust, explain to us.

Think about the number of passwords you need to remember for each website! We decided to create a new proposal – a decompartmentalized interoperable Internet, in a word: efficient. Starting from the blockchain, that is, from decentralized and inviolable blocks, we provide transparency
enhanced, guaranteed certification, in short, the return of trust on the Internet.

It is for all these reasons that we have included in the source block of our block chain the Universal Declaration of Human Rights, to which we have added the 31st article dedicated to the neutrality of the Internet and the fundamental freedoms of women and men in this space. This article is in line with our philosophy and it was important for us to engrave it on the marble of our blockchain.

What are the next steps for this project?

Starting next January, we will be launching a bridge, an operation to connect our blockchain to the rest of the ecosystem. We are also looking to raise funds to continue and accelerate the rollout of the Archethic ecosystem and biometrics in particular.

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