Saturday, June 10, 2023

Quant Network Goes Viral


Since listed on the Binance cryptocurrency platform last week, the value of an ambitious initiative to connect the world’s blockchains. Inspired by its founder’s work with the Australian health records surges.

Quant was trading at US$167.13 at 12.39 pm AEST, a small decrease from its previous high of US$184.80. It is up 12.9% since yesterday’s close. Quant is still up 12.9 percent from yesterday’s close.

It gains almost 70% in four days after Binance announced its listing on Thursday when QNT coins were trading at US$98 per token.

Quant currently has a market capitalization of $US2.1 billion, ranking it as the 49th most valuable cryptocurrency. It ranks No. 66 just a week ago, and it ranks No. 111 as recently as early June.

My advisor at JP Morgan Chase recommended that I add $qnt to my portfolio. So far, they have only ever suggested that I add $btc and $eth to my portfolio.

Behind the Idea

Dr. Crypto (@askthedr) posted this on July 30, 2021.  Gilbert Verdian, a University of Technology, Sydney MBA graduate, is the driving force behind the London-based project. He was the top information security officer of eHealth NSW five years ago when he came up with the notion.

According to a 2019 project summary, the idea for blockchain emerged from the necessity to solve healthcare interoperability. For what appeared to be an imperfect (but best available) solution. Gilbert and the eHealth team designed an enterprise service bus (ESB), which required millions of dollars in investments and major infrastructure improvements.

According to a 2017 blog post by Verdian, this effort finally resulted in a broader dialogue about compliance and standards. As a result, Standards Australia established a technical committee specializing in blockchain and digital ledger technologies inside the International Organization for Standardization (ISO) in 2015.

However, it also led Verdian to realize that the data hub could use for more than just ensuring the sharing of health information and could utilize for a cross-industry, multi-application approach.

As Verdian stated in 2017, they see a potential equivalent to that of the internet in the early 1990s.

They are on the verge of something monumental; blockchain has the potential to fundamentally alter the way the internet runs and how processes operate. They just do not know what they can do with it yet.

Verdian launched the Quant Network with two other partners after returning to his hometown of London. The ICO (initial coin offering) in April 2018 raised US$36.9 million for the project at a price of US$1.51 per token.


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