Below is our recent interview with Henry Ines, CEO at GoChain:
Q: Could you provide our readers with a brief introduction to your company?
A: The GoChain Foundation, developer of the GoChain blockchain, was founded to tackle the blockchain scalability problem and to drive the adoption of impactful technology for the betterment of society and our habitat. Today, at 1,300 transactions per second, GoChain’s network is the fastest, highly scalable, enterprise-grade and “green” web3 based public and private blockchain protocol anchored by a decentralized consortium of highly reputable node validators to include Fortune 500 companies, NGOs, nonprofits, and universities. GoChain enables companies and organizations to quickly launch and manage their own scalable, low-cost blockchain solutions, run distributed applications and to deploy smart contracts. GoChain also supports its designated public cryptocurrency, which has the ticker symbol GO. GoChain’s growing ecosystem includes innovative applications and services to include the Zeromint NFT Marketplace and Chainparency, developer of GoTrace — first of a kind modular blockchain-based track and traceability system.
Q: Any highlights on your recent announcement?
A: GoChain is pleased to be working with the National Mining Agency of Colombia (Agencia Nacional de Mineria or ANM) to re-imagine and digitally transform Colombia’s mining sector through the use of blockchain technology and smart contracts. We believe this will become the global standard for all mining operations globally. Key highlights of recent announcement include:
– Colombia is the first government to record a mining contract and terms on a public blockchain ledger (on the GoChain blockchain)
– Colombia is the first worldwide to mint a mining contract in the form of an unique non-fungible token (NFT) on a public blockchain ledger (on the GoChain blockchain)
– ANM’s vision includes (1) the recording of mining titles, contracts, and rights on the blockchain (2) tokenizing mining ventures and assets on the blockchain for novel financing and fundraising opportunities (3) utilizing blockchain for the granular track and traceability of mining operations and supply chains in Colombia to ensure authenticity and the responsible sourcing of metals / minerals.
Q: Can you give us more insights into your offering?
A: GoChain will work with ANM, local partners, and other stakeholders to further implement the envisioned blockchain strategy and mining digital transformation plans; particular focus initially will be on recording approved Strategic Mining Area (SMA) titles/contracts and terms on the blockchain.
Q: What can we expect from your company in next 6 months? What are your plans?
– A: GoChain’s blockchain protocol averages ~ 1300 transactions per second (about 100x magnitude in TPS compared with the Ethereum blockchain protocol)
– GoChain’s protocol costs typically $0.01 per transaction
– GoChain is ~ 99.9% greener than Bitcoin (for more information on GoChain’s benefits relative to Bitcoin and Ethereum see here)
– GoChain’s is based on our novel “Proof of Reputation” consensus algorithm, which relies on highly reputable organizations such as Dish, Sling, Lenovo, Conservation International, Penn State University, Royal Melbourne Institute of Technology (RMIT), and more to process the blocks on the GoChain blockchain
– GoChain is 100% Ethereum compatible — any ERC20 project within minutes can easily be running on the GoChain protocol and benefit from its scalability, cost benefits, and low-carbon footprint.
– Zeromint: the best place to launch and responsible mint NFTs
– Chainparency: first of a kind modular blockchain traceability solution to enable all stakeholders to participate in end-to-end digital traceability and auditability of global supply chains