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TomoChain & VeloxChain Partnership Announcement

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Veloxchain is an open-source blockchain-based protocol and marketplace that allows for interoperability of multiple databases and systems, enabling participants to collaborate, access and benefit from a global network of shared mobility services.

Due to the transformation of the urban mobility ecosystem, a rise of shared mobility services like bike sharing, ride-hailing and e-scooters sharing will transform the way people travel. Despite its promising growth, the market operates in a closed and fragmented environment with little interoperability between modes of transport and mobility companies beyond borders.

VeloxChain was created to help unleash the potential of blockchain through an open-source, scalable and decentralized infrastructure designed to connect urban mobility – bringing different silo-services into a common network. As a result, it creates cost efficiency for service creation for both users and providers. TomoChain’s innovative blockchain solution will be an ideal solution for VeloxChain.

VeloxChain Co-founder, Eric Bui commented:

“VeloxChain is committed to democratise the global mobility market and accelerate the world’s transition to an open, seamless and interconnected urban mobility network. We recognise the need for instant confirmation and frictionless transactions to achieve our goal. That’s why we are thrilled to forge this partnership with TomoChain. Using TomoChain, users will be able to swiftly and cost-effectively transact within the ecosystem. Additionally, our joint forces in blockchain research and development will complement each other’s lacking parts, thus, contribute to growing both companies and the smart contract global arena as a whole.”

The initial focus of this collaboration will involve additional research and development of TomoChain’s unique Proof of Stake Voting (POSV) consensus, with the aim of scaling its global user base. With the support of TomoChain’s experienced team, VeloxChain will accelerate the development and integration of a customised version of TomoChain’s POSV consensus into its protocol for decentralized urban mobility, with instant confirmations and near-zero transaction fees. TomoChain and VeloxChain have agreed to join forces to build awareness and reputations of both projects through marketing and business development, as well as raise awareness of POSV consensus on a global scale.

TomoChain Founder, Long Vuong said:

“We are excited to partner with VeloxChain to integrate the advanced blockchain technology into their protocol which brings seamless transactions, cost saving and secure collaboration to mobility users. The blockchain world needs projects like VeloxChain to drive open innovation and collaboration, thus, building up trust in this technology and enhance the quality of our life.”

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