Countries and financial institutions are adopting the ISO 20022 financial messaging standard to simplify the regulation of financial data exchange. However, most cryptocurrencies are not ready to meet these standards. Such a standard adoption can remove the doubts of many opponents of blockchain technologies, as ISO-compliant cryptos have actual proof of their legitimacy and the potential for widespread adoption. Transparent and understandable transactions in such networks facilitate the implementation of standardized analytics. It is critical for investors who rely on objective analysis.
Quant (QNT)
Quant (QNT-USD) has a unique approach to connecting blockchain networks. It is based on the Overledger platform as the basis for interoperability solutions. With the help of Quant, even developers with a low level of expertise can create smart contracts and use them in multiple chains. The project has been trying to increase its compatibility with traditional financial systems in every possible way. One of the ways to achieve this goal was to adopt the ISO 20022 standard. The new standard allowed the platform to facilitate the exchange of information between different networks and take a leading position among ISO-compliant cryptos.
The platform has ambitious plans to become a repository for Web 2 businesses and assets while meeting the needs of the Web3 economy. Thus, Quant plans to become the corporate standard for building on the blockchain. The first steps in this direction have already been taken: the project already cooperates with the Inter-American Development Bank (IADB) and Oracle (NYSE:ORCL).
Quant’s technological architecture stands head and shoulders above most crypto projects. As the blockchain operating system supports distributed ledger technologies (DLT) interaction, the network became a single mechanism, with the QNT token standing as the basis of this ecosystem. The Swiss Financial Market Supervisory Authority (FINMA) regulates QNT as the token can function independently of the blockchain. This approach has advantages not only for developers. Users can also interact with multi-chain decentralized applications (mDApps) within the network.
Notably, 99% of the project’s tokens are already in circulation. At the same time, QNT supply is limited to 14.6 million tokens, with no tokens to be issued in the future. As such, QNT’s limited supply and growing utility can positively affect its value.
Hedera HashGraph (HBAR)
Since its founding in 2018, Hedera HashGraph (HBAR-USD) has demonstrated an innovative approach to fast and reliable cryptocurrency transactions. This public distributed ledger operates at a web-scale and uses hashgraph consensus. With this feature, the project has achieved a throughput of more than 10,000 transactions per second.
This representative of ISO-compliant cryptos is not limited to buying and selling cryptocurrency services. Hedera also provides file storage and smart contract services. Thus, the project is expanding its usefulness for corporate clients.
HBAR tokens are the power of the Hedera system, its network fuel, and the guarantor of stable operation. The proof-of-stake consensus mechanism in the network ensures the security of services such as HBAR transfer, data logging, management of fungible and non-fungible tokens, etc.
Focusing on interoperability, Hedera has confirmed its compliance with the ISO 20222 standard. The platform can integrate with financial systems, as its activities are consistent with global payment and banking standards (SWIFT). Together with the scalability of the crypto project, Hedera meets the criteria of a top participant in the decentralized finance market.
The practical application of Hedera Hashgraph technologies has demonstrated the project’s versatility for multiple industries. Cooperation with Électricité de France brought the renewable energy certificate revolution to the world. Now, it is possible to demonstrate commitment to clean energy by taking advantage of blockchain technology.
The distributed ledger Acoer can track the supply chain of drugs. The Coupon Bureau has created a coupon tracking system. These and other achievements of the last few years would not have been possible without Hedera.
Stellar (XLM)
Stellar (XLM-USD) connects individuals, banks, and payment systems into a network. It allows for fast, seamless, and inclusive money transfers. The Stellar Consensus Protocol ensures the integrity of these transactions and enables the project to go beyond traditional banking systems.
Since 2014, this financial infrastructure has kept changing the standard view of how money flows worldwide. The absence of several intermediaries in transfers qualitatively distinguishes Stellar technology from banking systems. Peer-to-peer transactions reduce costs and give access to financial services to groups of people who previously could not use bank products.
A standard cross-border transfer can take several days to complete. On the other hand, Stellar processes transactions in a matter of seconds. Low fees make the network accessible to many individuals and businesses. The native XLM token (Lumen) reinforces Stellar’s position as an inclusive service. Thanks to it, multi-currency transactions are possible depending on the location of the counterparties. Stellar issued 100 billion Lumens at launch and increased the supply by 1% every year.
The platform has become a part of the ISO-compliant cryptos list to develop cooperation with the world’s central banks. Thanks to this, Stellar is among a limited number of projects with access to trillion-dollar markets. The growth of technological potential puts the platform among the top pioneers in the industry. The Protocol 20 introduction and related Soroban smart contracts open up new horizons for the project’s financial services from the perspective of decentralized applications.
On the date of publication, Julia Magas did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
