France enters the game – For several months now, cryptocurrencies have seemed to be an increasingly common choice for institutional investors and large companies. French firms are no exception to the rule either. In fact, an EDF subsidiary will now participate in the validation of transactions on the Tezos blockchain.
EDF embarks on blockchain
EDF teams have been working internally on different blockchain applications for several years now . However, the company has just passed a new milestone by becoming more involved in the Tezos project .
Thus, it is through the subsidiary specializing in blockchain solutions and high performance cloud , Exaion , created in January 2020, that EDF is embarking on block validation .
A strategic choice?
In practice, Tezos is a blockchain of choice for Exaion, which announced in its press release that it wants to “commit to developing solutions to minimize the carbon footprint of its activity and that of its customers” .
Truth be told, Tezos is a Proof of Stake blockchain , a consensus mechanism known to be very energy efficient, especially compared to Bitcoin’s Proof of Work .
“Our choice to use the Tezos blockchain came naturally. Tezos allows us to considerably reduce our energy consumption and is part of our sustainable development policy while maintaining a quality digital offer. “ – Fatih Balyeli, co-founder and CEO of Exaion
Obviously, the choice of the Tezos blockchain was also motivated by the presence in France of Nomadic Labs, one of the research teams of the Tezos project.
“Nomadic Labs is pleased to have supported Exaion in its efforts to join the Tezos ecosystem, which currently has more than 400 validators around the world. By becoming the first French company to validate on Tezos, Exaion reinforces its status as a pioneer in the blockchain sector and, by considering the use of this technology for certain customers and business cases, validates the viability of the Tezos project, paving the way for a growing commitment from French institutional players . » – Michel Mauny, President of Nomadic Labs