Jiritsu Blockchain, Powered by ZK MPC, Uses Avalanche to Verify Real World Assets On-Chain
2024年4月27日 - 1:00AM
Today the Jiritsu Network, a pioneer in verifiable computing,
announced the launch of Jiritsu Layer 1, built on Avalanche’s
Subnet technology stack. Powered by Zero-Knowledge Multi-Party
Computation (ZK MPC), Jiritsu aims to change how complex real world
assets (RWAs) – such as private equity, real estate, supply-chain
assets, and many others – are reflected, verified, transacted, and
further leveraged on-chain. In leading innovation with ZK MPC
technology, Jiritsu has made strides in tackling fundamental
challenges around EVM computational limitations, ingesting
off-chain data, and automating workflows based on off-chain
triggers.
While Jiritsu can be applied to a wide range of on-chain use
cases, the Layer 1 is launching with Everready Group – a
major retailer of medical supplies and equipment, retail items,
home goods, and more in the wholesale and e-commerce world.
As a leading firm in Amazon’s Fulfillment by Amazon (FBA)
program, Everready is adopting Jiritsu’s “Proof of Inventory”
product to verify inventory. Jirtisu is verifying more than $20M in
daily inventory, with monthly transactions of over $15M and
100,000+ SKUs.
This collaboration leverages Jiritsu's technology for the first
time, all while reinforcing Everready's commitment to precision and
reliability in supply chain management.
"Adopting Jiritsu Proof signifies a monumental leap forward for
Everready and the broader e-commerce industry," said Michael Perl,
CEO of Everready. "By leveraging this cutting-edge technology, we
are now able to verify and secure an immense daily inventory,
showcasing our dedication to transparency and trust in every
transaction. This move not only enhances our operational
capabilities but also sets a new standard for asset management in
the digital age."
The ZK MPC technology at the heart of Jiritsu’s Layer 1 network
securely verifies and authenticates vital – but often opaque and
non-standardized – information about off-chain assets, ensuring
that they are properly and transparently reflected on-chain. This
breakthrough unlocks more robust asset tokenization, strengthening
a whole host of on-chain use cases in supply chain, logistics,
wholesale and retail banking, capital markets, and other areas.
Jiritsu’s capabilities have the potential to reduce the friction,
cost, and time associated with traditional asset transactions and
processes while enhancing privacy, security, and trust.
"Ava Labs is proud to keep opening new frontiers in asset
tokenization through ambitious projects with forward-looking
partners in the ZK and asset tokenization space like Jiritsu," said
Morgan Kruptesky, Senior Director of Business Development for
Institutions & Capital Markets at Ava Labs. "The launch of
Jiritsu on Avalanche underscores the network’s leading position in
this fast-emerging field while providing expanded options for
security, authentication, and efficiency in managing real-world
assets on-chain. The Avalanche network continues to prove that it
can provide fast, flexible, robust blockchain solutions that meet
the complex needs of modern finance."
The launch of Jiritsu Layer 1 not only has the power to enhance
the tokenization landscape, but also marks a step forward in
on-chain asset management. By enabling the on-chain verification of
historically hard-to-verify assets, Jiritsu aims to reshape digital
asset transactions, enabling new opportunities for investment and
ownership across a myriad of sectors.
With expanded capabilities and an Avalanche-powered foundation,
Jiritsu is primed to support a new class of ambitious RWA
projects.
For more, visit Jiritsu at jiritsu.network.
About Jiritsu Network
Jiritsu Network is a pioneer in the field of blockchain
technology, focusing on the tokenization and verification of
real-world assets through its innovative use of ZK MPC technology.
The launch of Jiritsu Layer 1 represents a significant advancement
in making digital asset management more accessible, efficient, and
secure.
About EverreadyEverready is at the forefront of the
e-commerce industry, offering innovative solutions that streamline
the online shopping experience. As a 2P partner with Amazon FBA,
Everready has revolutionized how vendors manage inventory, ensuring
product availability, and rapid delivery. With a focus on
transparency, reliability, and efficiency, Everready is committed
to exceeding customer expectations, cementing its position as a
leader in the e-commerce sector.
About Avalanche
Avalanche is a smart contracts platform that scales infinitely
and regularly finalizes transactions in less than one second. Its
novel consensus protocol, Subnet infrastructure, and HyperSDK
toolkit enable Web3 developers to easily launch powerful, custom
blockchain solutions. Build anything you want, any way you want, on
the eco-friendly blockchain designed for Web3 devs.
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Please see this important notice.
For more information, press only:
Ava Labs: press@avalabs.orgPR Contact Email:
Jiritsu@winn.solutions
For more information on Everready and Jiritsu Proof:
Everready Website
Jarred Winn
abc1232A
Winn.solutions
4157475999
jiritsu@winn.solutions
jacob@jiritsu.network
kaitlin.starcher@avalabs.org