On November 28th, EOS Labs announced a strategic partnership with the cryptocurrency exchange CoinTR to jointly establish the Turkey Web3 Industry Lab. The collaboration aims to inject new vitality into the Turkish blockchain ecosystem and leverage blockchain technology to support Turkey’s technological transformation and industrial upgrading.
During the press conference announcing the establishment of the Turkey Web3 Industry Lab, Zack Gall, founder and Chief Communications Officer of the EOS Network Foundation, delivered a speech on “EOS Network—an enterprise-grade blockchain operating system.”
Zack shared, “EOS EVM is an early infrastructure project of ENF (EOS Network Foundation), bringing Ethereum compatibility to EOS. Since its launch in April 2023, it has demonstrated world-class performance, a deflationary gas fee burning mechanism, and the ability to perform universal cross-runtime messaging between EOS EVM and EOS Native, essentially bridging the two virtual machines into one. EOS EVM promotes greater interoperability between EOS and Ethereum, further expanding the range of applications that can be built on EOS.”
Furthermore, Zack mentioned that their Japanese partner, PassPay, has obtained a virtual asset service license from the Japanese Financial Services Agency and will issue JPYW Japanese stablecoin based on the EOS EVM solution.
The following is the full text of the speech
The EOS Network is one of the first gen3 layer 1 blockchains, which has proven its reliability and robustness since its launch in 2018. Remarkably, it’s seen zero downtime, even during periods of high congestion, making it a top choice for businesses looking for a dependable blockchain network to deploy applications.
At the forefront of the Web3 movement, EOS is not just a blockchain network, but an advanced operating system for a decentralized internet. Its exceptional speed, scalability, and ease of use have set new standards in the blockchain industry.
EOS is transforming various sectors, including gaming and finance, with its ability to handle thousands of transactions per second. It is ushering in a new era of decentralized gaming, granting players genuine ownership of digital assets and ensuring safe, transparent in-game transactions. In finance, EOS is revolutionizing how transactions are processed, from everyday money transfers to complex financial instruments.
EOS EVM, an early initiative of the ENF, brings Ethereum compatibility to EOS. Launched in April 2023, it features world class performance, a deflationary gas fee burning mechanism, and a generic cross-runtime messaging between EOS EVM and EOS Native to essentially bridge the two virtual machines into one. EOS EVM fosters increased interoperability between EOS and Ethereum, further broadening the scope of applications that can be built on EOS.
EOS has also recently formed a partnership with Japanese company PassPay, which holds the only license in Japan for a regulated stablecoin for the Japanese Yen. This partnership showcases the potential of EOS in the stablecoin sector for everyday banking applications. The partnership with PassPay is a clear indication of EOS’s commitment to expanding its reach and capabilities in the financial sector, and is expected to stimulate the utility of the EOS Network and increase its adoption rate.
EOS’s ecosystem also includes several successful GameFi applications, notably Upland and PlayZap, which both abstract away the complicated blockchain components such as key and resource management away from their end users to provide a web2 gaming experience for web3. These dApps, along with future projects from partner companies, highlight the vast potential and capabilities of EOS. These applications are not only transforming the way we interact with digital spaces but are also creating new opportunities for businesses and developers.
EOS not only provides a platform for digital innovation, but it also acts as a catalyst for change and growth. As the world continues to embrace this technology, EOS opens the door to a future where digital economies thrive, financial inclusivity is a reality, and countries like Turkey can lead the way in the global digital landscape. This is more than just an opportunity for EOS; it is a chance for the world to realize the full potential of decentralized systems and to experience the benefits that they offer.