Interlay works with Web3 foundation on ground breaking Polkadot blockchain model
We have been advising Imperial-college-spin-out, Interlay, as it builds tech that allows different blockchains to talk to one other. That is exciting because Interlay tell us that at time of writing there is no framework anywhere for financially ‘trustless’ blockchain interoperability, or in plain English there is no tech anywhere that allows information to be exchanged between blockchains without involving third parties who are trusted to execute the exchange. Interlay’s tech provides users with financial security when transacting and trading across cryptocurrencies.
And Interlay has put that technology to work with the Web3 Foundation, for whom Interlay has produced a proof-of-concept-stage model which allows users to use Bitcoin with decentralized finance applications on the Polkadot blockchain.
Alexei Zamyatin, CEO of Interlay, commented: “We are thrilled to be working with Web3 on this ground breaking project and we have appreciated the help of the HLaw team getting us to the position where we have now been able to deliver for Web3. The folks at HLaw really know their stuff when it comes to commercial contracts and IP.”
Our team at HLaw was delighted to help them with this project and very much look forward to watching what Interlay will does next.