Nov. 16 2024
In today’s edition of the ICP Roundup, we will explore the path to mass adoption for ICP. Specifically, I will highlight the key partnerships, announcements, and collaborations that demonstrate how DFINITY and ICP are actively building, growing, and innovating for a sustainable and impactful future.
To begin, it is important to note that ICP has outlined a highly ambitious roadmap that encompasses both short-term and long-term objectives. With the genesis launch in May 2021, the Dfinity Foundation announced a 20-year roadmap for the Internet Computer. The roadmap details how Dfinity plans to allocate R&D resources in the Internet Computer ecosystem.
Source: internetcomputer academy and medium
Furthermore, this year, the DFINITY Foundation released its short-term roadmap. Remarkably, the team is ahead of schedule and has already achieved several impressive milestones.
In terms of the Compute Platform, the team has delivered two major upgrades:
1) Tokamak Milestone (Completed on #ICP):
Results:
- ICP Ledger:
- Average latencies reduced by 51%, from 4.57 seconds to 2.23 seconds.️
- Internet Identity:
- Sign-in times improved significantly, with average latency dropping 45.2%, from 7.12 seconds to 3.9 seconds.️
- Application Subnets:
- End-to-end latencies decreased by ~44%, from 2.43 seconds to 1.35 seconds.️
2) Stellarator Milestone:
Results:
- Enhanced Subnet Capacity:
- Each subnet can now host over 1TB of memory.
- Increased Stable Memory Limit:
- Canisters now support up to 500GiB of stable memory.
- Improved Performance:
- Users experience faster response times and increased throughput.
These advancements empower developers to create sophisticated applications requiring large-scale data processing, further solidifying ICP as a leader in blockchain innovation.
In terms of the Decentalized AI, the team has delivered the following upgrade:
3) Cyclotron Milestone:
Results:
- Increased Computing Power:
- Cyclotron boosted the computing power of ICP by approximately 10x
- Breakthrough Use Cases:
- ICP is now the only blockchain with working examples of smart contracts performing face recognition fully on-chain.
- Additional capabilities include image classification and running advanced AI models like GPT-2.
This milestone showcases ICP’s unparalleled computational capabilities, opening doors for innovative, on-chain AI applications that were previously unattainable in the blockchain space.
In addition, the team has accomplished several significant milestones across a variety of critical narratives, further advancing the Internet Computer ecosystem. These include:
- Chain Fusion: Progress toward seamless integration and interoperability with other blockchains.
- Privacy: Enhancements to ensure secure and private user interactions on the platform.
- Platform Decentralization: Steps to further decentralize the network, reinforcing its resilience and trustworthiness.
- Identity: Innovations in digital identity management to simplify and secure user authentication.
- Digital Assets: Development of tools and features to improve the management and utilization of digital assets.
- Governance and Tokenomics: Improvements in governance structures and tokenomics to align incentives and support ecosystem growth.
- Developer Experience: Upgrades to developer tools and resources, making it easier to build, deploy, and scale applications on the Internet Computer.
These advancements collectively strengthen the foundation for long-term growth and innovation within the ecosystem.
Source: internetcomputer
The mass adoption of ICP is gaining momentum in Switzerland. Notably, we have observed its adoption by private banks, institutions, and municipalities. Furthermore, the team is actively engaging with government bodies to discuss a range of Web3 topics, including decentralization, blockchain technology, digital identity, and digital governance.
Last year, Swiss diplomats from the Federal Department of Foreign Affairs (FDFA) and the State Secretariat for Education, Research and Innovation (SERI) spent a day at the DFINITY headquarters, exchanging insights with expert cryptographers and engineers on a range of Web3 topics. During the meeting, the Swiss government outlined its four key focus areas regarding emerging technologies.
- Digital Self-Determination: Emphasizes individuals’ rights to control their own data and decide what to share and with whom.
- Cybersecurity: Focuses on defining the role of nation-states in maintaining security in cyberspace.
- Economic Growth through Digitalization: Positions Switzerland as a leader in digital technologies like AI, blockchain, and quantum computing to boost the nation’s economy.
- Participation in UN Digital Governance: Active involvement in international discussions to establish laws governing cyberspace.
Source: medium
Last year, the DFINITY Foundation has partnered with the Municipality of Lugano to establish a $1 million fund aimed at fostering blockchain innovation in the region. This collaboration seeks to support startups and developers building on the Internet Computer platform, enhancing Lugano’s position as a hub for blockchain technology. The initiative includes educational programs, workshops, and resources to promote the development of decentralized applications and services. By leveraging the Internet Computer’s capabilities, the partnership aspires to drive economic growth and technological advancement in Lugano.
Source: medium
This year in March, DFINITY has announced the open alpha release of DocuTrack, an open-source, decentralized document-sharing application developed in collaboration with a Swiss private bank. DocuTrack offers fully encrypted document transmission, ensuring high security for business communications. It enhances customer onboarding processes, such as Know Your Customer (KYC) and Anti-Money Laundering (AML) procedures, and streamlines signature collection. Built on the Internet Computer blockchain, DocuTrack leverages chain-key cryptography and a threshold security scheme to maintain data privacy and integrity, with user data remaining encrypted during transit and processing.
Source: medium
Furthermore, the adoption of ICP extends far beyond Switzerland, with the project gaining traction worldwide through a variety of strategic partnerships and initiatives.
This year, in July, the United Nations Development Programme (UNDP) has partnered with the DFINITY Foundation to advance the Universal Trusted Credentials (UTC) initiative, aiming to enhance financial inclusion for Micro, Small, and Medium Enterprises (MSMEs) globally. This collaboration leverages the Internet Computer blockchain technology to develop a secure and decentralized data infrastructure for digital credentials. The pilot project in Cambodia will focus on improving MSMEs’ access to financing by building digital trust and facilitating cross-border trade. Following the pilot, the initiative plans to expand to ten additional countries, fostering a more inclusive and sustainable financial ecosystem for MSMEs worldwide.
Source: undp
In April 2024, during the Blockchain in Education Summit at Oxford University, the United Nations Office on Drugs and Crime (UNODC), the Knowledge Foundation, and the DFINITY Foundation announced a three-year partnership aimed at transforming education through blockchain technology. This collaboration focuses on developing innovative tools to educate participants on anti-corruption topics via a series of hackathons under the UNODC’s Coding4Integrity framework. These events will leverage the Knowledge Token® system on the Internet Computer blockchain platform, enhancing the way learners and educators acquire and share knowledge.
Source: immersiveeducation
In September 2024, the DFINITY Foundation has signed a Letter of Intent (LOI) with Cambodia’s Ministry of Industry, Science, Technology, and Innovation (MISTI) to explore the integration of blockchain technology into the nation’s digital infrastructure. This collaboration aims to enhance Cambodia’s technological capabilities by focusing on sovereign cloud technology and its applications in smart city development. The partnership will facilitate joint research, training, and support for the entrepreneurial ecosystem, positioning Cambodia as a leader in emerging technologies such as blockchain and artificial intelligence.
Source: x.com/dfinity
In July of 2024, Ditobanx, a digital financial services platform, has partnered with ICP Hub Mexico to introduce a new payment solution utilizing ckBTC, a tokenized form of Bitcoin on the Internet Computer blockchain. This initiative, launched on university campuses in Aguascalientes, Mexico, aims to provide students with a fast and accessible financial alternative, processing transactions in just one minute. As part of the pilot program, over 4,000 students received 100 pesos in ckBTC to spend at local campus businesses, such as cafeterias and bookstores. This effort seeks to promote cryptocurrency adoption in Mexico, where fewer than 100 businesses currently accept digital payments, and to foster financial and digital literacy among young adults.
Source: crypto-
In 2023 the DFINITY Foundation has partnered with FEDERITALY, the organization behind the “FEDERITALY 100% Made in Italy” brand, to develop a decentralized application (Dapp) that enhances the certification process for authentic Italian products. This collaboration allows producers to apply for the “FEDERITALY 100% Made in Italy” label through a rigorous audit. Upon approval, a certificate is created on the Internet Computer blockchain, and a corresponding QR code is assigned to the product. Consumers can scan this QR code to access detailed information about the product, its producer, manufacturing process, materials, and certification, ensuring transparency and trustworthiness. This initiative aims to protect Italian entrepreneurship and showcase excellence globally by leveraging blockchain technology for secure and transparent verification.
Source: medium
In 2023, Roland Berger has partnered with The DFINITY Foundation to develop a blockchain-powered Voluntary Recycling Credits (VRC) standard aimed at transforming waste management. This initiative addresses the global waste crisis, particularly the low recycling rates of municipal solid waste and plastic waste. By leveraging blockchain technology, the VRC platform ensures transparency and traceability in recycling efforts, incentivizing proper waste management practices. The collaboration also emphasizes the selection of sustainable blockchain technology, with The DFINITY Foundation’s Internet Computer being chosen for its advanced features and low energy consumption. This partnership aligns with global commitments to mitigate pollution and climate change, offering a scalable solution to enhance recycling rates and promote environmental stewardship.
Source: prnewswire
The Manipur Department of Education has partnered with the DFINITY Foundation to implement a blockchain-based solution for verifying and storing educational certificates on the Internet Computer Protocol (ICP). This initiative aims to ensure the authenticity of certificates and provide students with secure, global access to their credentials, addressing issues related to lost or fraudulent documents. By leveraging ICP’s tamper-proof and decentralized blockchain technology, the solution enhances the credibility of educational certificates and empowers students in their employment pursuits. The Horizon, a New Delhi-based Web3 policy and adoption think tank, is supporting the implementation process, with technology guidance from DFINITY.
Source: business-
The mass adoption of ICP is also taking place in Indonesia. Indonesia On-Chain is an ambitious initiative launched by Disruptives ICP.Hub Indonesia in collaboration with key Indonesian stakeholders. The program aims to integrate blockchain technology into Indonesia’s education and entrepreneurship sectors, leveraging the unique capabilities of the Internet Computer (ICP) ecosystem. The initiative has garnered significant support, partnering with 75 high schools and 21 universities across Indonesia. This extensive collaboration underscores the program’s commitment to fostering a new generation of innovators and entrepreneurs, positioning Indonesia as a global leader in blockchain technology.
Source: indonesiaonchain
In recent months, ICP has established several significant partnerships, including:
DFINITY has partnered with Ordinox to enhance cross-chain vault security. This collaboration aims to unify liquidity across various blockchain networks, providing a more secure and efficient environment for digital asset management.
Source: medium
ICP is included in the Coinbase 50 Index (COIN50), a benchmark representing the top 50 digital assets listed on Coinbase Exchange.
Tangem Wallet now supports ICP, enabling users to securely store and manage their ICP tokens
DFINITY announce a Partnership with PrimeVault.This collaboration enhances security and operational efficiency for PrimeVault’s institutional clients, expanding their access to the decentralized ecosystem powered by ICP.
Osmosis announced a partnership with Omnity Network to establish the first-ever connection between the Interchain and ICP. This collaboration enables the seamless bridging of Chain-Key Bitcoin (ckBTC) from ICP to the Interchain via Osmosis, unlocking new interoperability and DeFi opportunities across ecosystems.
Calimero partnered with ICP. This partnership represents a significant leap forward in privacy and innovation for the ICP community.
CV Labs and the DFINITY Foundation have established a strategic partnership to accelerate the development and deployment of decentralized services globally. This collaboration combines CV Labs’ extensive blockchain ecosystem with DFINITY’s Internet Computer Protocol (ICP) technology, aiming to foster utility and interoperability in the blockchain space. The partnership underscores a shared vision to sustainably evolve the global economy through decentralized technologies. As part of this alliance, the Internet Computer will be a headline partner for CV Summit 2024 and the Web3 Hub Davos 2025.
ICP partnered with Tap Protocol to create a trust-minimised bridge between Ethereum and TAP Protocol.
ICP partners with Outlier Ventures to kick off a Crypto x AI Base Camp accelerator program.
CME Group and CF Benchmarks have announced the introduction of new reference rates and real-time indices for ICP, effective July 29, 2024. These benchmarks are designed to provide transparent and accurate pricing data, aiding market participants in valuing portfolios and creating structured products. The indices will utilize pricing information from leading cryptocurrency exchanges, including Bitstamp, Coinbase, Gemini, itBit, Kraken, and LMAX Digital. This initiative expands CME Group’s suite to 24 cryptocurrency benchmarks, covering over 93% of the investable cryptocurrency market capitalization.
Source: cmegroup
Collectively, these news updates, partnerships, and advancements highlight significant adoption, continuous development, and substantial growth within the ICP ecosystem.
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