DGAP-News: Lition Energie GmbH / Key word(s): Alliance/Cryptocurrency / Blockchain
Lition signs a Co-innovation Agreement with SAP. The technology partners are exploring the development of a public-private blockchain for business in mass markets.
BERLIN, Germany, Dec. 17th 2018 - Lition, the blockchain tech start-up known for the world's first blockchain based P2P energy exchange in a mass market and SAP SE, the market leader for enterprise application software, have signed a co-innovation agreement to address current shortfalls of distributed ledger technology (DLT).
The technology partnership was first announced at the Consensus Conference in New York City in May 2018 by Torsten Zube, Head of Blockchain at SAP.
Blockchain experts know the limitations of current-generation blockchain technologies, such as
* the secure exchange of private data in distributed environments
* scalability (block confirmation time and transaction costs)
* compliance to regulatory requirements like deletion of data (GDPR compliance)
hinder a mass market adoption of blockchain technology.
Both companies have therefore been validating these topics in a series of workshops over the last half year. SAP is exploring a private, permissioned, decentralized technology for verifiable exchanges of data while Lition is focusing on a public, permission-less blockchain. Both companies strive to integrate these two parts to allow for private communication and publicly verifiable claims.
Currently, SAP and Lition blockchain developers are collaborating in design-thinking workshops, laying the foundation for the world's first public-private blockchain with deletable data features for all business.
"Helping our customers solve their business challenges is always at the very center of what we do", said Torsten Zube, Head of Blockchain at SAP. "With this cooperation, we intend to explore better options to facilitate the value-adding adoption of blockchain or blockchain-influenced applications for real business use cases."
Dr. Richard Lohwasser, Lition's CEO commented, "This partnership is based on the distinct strengths of each company, bringing together Lition's expertise of public blockchain requirements, agile mindset and high market launch velocity with SAP's strong development resources and powerful innovation capabilities. SAP is the ideal partner to co-innovate and create the go to blockchain standard for business."
About Lition Technology AG
Lition is a blockchain infrastructure developer, with approx. 20 employees mostly out of Berlin. Lition's new blockchain infrastructure addresses key commercial and business issues that hindered blockchains to reach mainstream adoption so far. With its scalable public-private blockchain with 'deletable' data features it allows businesses and large enterprises to bring blockchain applications into mass-market adoption in a legally compliant way. Lition also developed and rolled out a use case on P2P energy trading, which is the world's first commercially live in a mass market with revenues and customers in over 10 cities.
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