Lenovo intends to incorporate a blockchain solution to streamline internal operations management procedures.
Together, the companies will work on developing an Internet of Things (IoT) and AR/VR hybrid software. The software is planned to be implemented in a variety of industries, such as fintech and logistics, reads the announcement.
Lenovo New Vision Technology
As the official press release says, Credits “will utilize their blockchain expertise to help facilitate building software” for Lenovo’s New Vision Technology project.
The Lenovo project is focused in the field of artificial intelligence (AI)/augmented reality (AR) and is aimed at providing professional industry solutions for partners in terms of infrastructure, platform development, hardware support, system integration and service assurance.
“The Internet of Things and augmented reality are already changing the way we interact with the world. We are excited to partner with AR titan Lenovo New Vision. I see the combination of AI/AR and IoT revolutionizing the business environment," Credits CEO & founder Igor Chugunov said in the press release.
Lenovo New Vision Technology intends to incorporate Credits’ blockchain solution to streamline internal operations and management procedures.
“Credits [has] been chosen by Lenovo New Vision Technology thanks to its distinctive technical solutions, such as [a] unique consensus algorithm which consists of dPoS (delegated-proof-of-stake) and BFT (Byzantine Fault Tolerance) features,” says the press release.
The blockchain platform that Credits has built is capable of performing up to one million transactions per second, it offers a processing speed of 0.01 seconds, combined with commission rates of as low as $0.001. The extended functionality of Credits’ smart contracts makes it possible to set cycles and create schedules.
A service in high demand
Credits is an autonomous blockchain platform based on the principles of a peer-to-peer network. The platform specializes in a variety of services that are needed for startups to release their DApps.
The company’s website states that its “the fastest and most scalable blockchain platform for DApps.” Credits provides its partners with smart contracts, public register and ledger, proof-of-concept and MVP development. The company also provides its blockchain expertise on application development.
The company uses a decentralized system for direct interaction of its members. The system incorporates users of the network, providing them opportunities for creating and using financial services. Every member of the blockchain is able to offer and to use different services. Credits tokens (CS) are used for the operations, states the website.
Today, the list of the Credits’ partners counts over one hundred startups that have implemented the Credits platform to develop their DApp services based on the blockchain system.
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