be-nz logo
Story image

NZ blockchain startup in partnership to build an ‘internet of blockchains’

23 Feb 2018

The future of blockchain will not be one network to rule them all, but rather an interconnected network of multiple blockchains, much like the internet as we know it.

The new PL^G framework launching today takes the first step to making this vision a reality.

PL^G is a collaboration between London-based blockchain specialists Qadre, New Zealand-based venture studio, Centrality and Switzerland-based blockchain entertainment ecosystem, SingularDTV.

All three companies collaborated to generate a solution to building scalable and secure blockchain applications that work in the real world.

Between them there are many years’ experience building real, commercial applications using blockchain technology, and each business brings a unique insight towards the overall solution.

The PL^G technology makes blockchain networks work more like the internet.

Just as the internet is a series of smaller physical networks, connected to a larger network through common protocols, PL^G will connect smaller, diverse networks together to create a truly global, scalable, and evolving blockchain layer of the internet.

Qadre co-founder Laura Bailey says, “The blockchain industry globally has a very divisive almost tribal element to it.

“Projects often fight to prove their single idealistic solution will solve for all use cases, the real world doesn't work like that. PL^G is designed to work in the real world, to help leverage each other’s strengths to create a more decentralised future.”

With the initial platform development completed, and applications already running on the network in beta, the next step will be raising the capital necessary to continue to develop the software and ecosystem around PL^G.

A ‘Token Generating Event’ or ‘TGE’, is an evolution of the unregulated Initial Coin Offering (ICO) crowdfunding model, involving a more rigorous screening process for both the investor and fundraiser involved.

The idea is to create a safer and more secure environment for cryptocurrency investment.

In the case of PL^G, Japanese investment advisory firm Crypto-Token Investment Advisory (CTIA) conducting the accreditation.

The money raised during the upcoming token sale will be used to help develop the PL^G framework, provide staking value to the PL^Gnet token consensus model and fund the core PL^G development team.

"PL^G represents the foundation building block of the Centrality dApp ecosystem, the team have been working hard on getting it match fit for the community to take forward.

We are excited about the new possibilities for blockchain applications based on this framework,” says Centrality CEO Aaron McDonald, who recently raised over US$100million during their own Token Generating Event.

As well as having the core backing of its three founding companies, PL^G has already secured key partnerships with Wanda Group and Cryptopia.

Centrality has also secured a place in the Kiwibank FinTech Accelerator, which assists young companies to take their ideas to market quickly and effectively.

Qadre co-founder Nick Williamson says, "We're excited to start scaling out our platform in a big way following the token sale.

“PL^G is the only blockchain network that scales as the internet does, and I cannot wait to see how the PL^G ecosystem will evolve.”

The TGE will available to accredited investors.

Story image
Tribal Group wins NZ higher education SaaS contract
"It is a significant win for Tribal being the first customer in New Zealand to adopt our Student Marketing and Recruitment, Event Management and Alumni Management Solutions as well as the Student Engage App."More
Story image
Virtual shopping, augmented reality could soon replace tactile shopping - study
"For e-retailers, it's clear that price and convenience alone isn't enough to keep people exclusively shopping online post-COVID."More
Story image
EPOS launches collaborative speakerphone with automatic transcribing
Expand Capture 5 levels the playing field and empowers professionals whether they’re working remotely or from the office.More
Story image
COVID, complexity and competition driving upswing in SME digitalisation
The experience of COVID-19, the ease of doing business, and the risk of falling behind others in their industry has driven an increased uptake of digital tools by New Zealand SMEs.More
Story image
Commission completes review of consumer mobile phone bills 
In September 2020, the Commission published an open letter to Spark, Vodafone and 2degrees asking them to share their plans for providing their customers with more meaningful product and service comparisons and to guard against overspending. More
Story image
Commerce Commission outlines competition issues regarding HP NZ's recent submission
In its statement, the Commerce Commission outlined key competition issues that the watchdog considers vital to the decision of whether to grant HP NZ’s proposed resale price maintenance arrangements.More