Included by the American publication Forbes in a ranking of blockchain projects “that are good for nothing”, representatives of MultiversX – which, among other things, also launched the cryptocurrency Elrond – list nine reasons why they consider the American top to be “deeply flawed”.
The Sibians from MultiversX Labs SRL – the third profitable company in the county, after Romgaz and Transgaz – believe that the list published by the American edition of the Forbes publication at the end of Tuesday launches “assertions made without any verification process”. American journalists included the blockchain network developed from Sibiu in a category dubbed “functional zombies”, which would have no other use outside of cryptocurrency transactions.
Although the article appeared on March 27, the people of Sibiu reacted to it only after it was picked up by Ziarul Financiar and – further – by various local publications.
Seven reasons
In the response of those from MultiversX, the appreciations of the American publication are countered with seven reasons on the basis of which the Sibians show that the network developed by them has many valences for which it can be used, apart from cryptocurrency transactions: from web3, to artificial intelligence or ” spatial computing”.
This, the Sibians point out, is due to the innovation behind the MultiversX technology “about 1,000 times more scalable than Bitcoin or Ethereum”. More than 8,100 applications have been developed through the network to date, with the number of transactions exceeding 400 million.
Present in 40 countries, MultiversX presents itself as one of the tools used by numerous startups, in addition to “partnerships and global support” of which Deutsche Telekom, Google Cloud or Tencent Cloud are mentioned.
“MultiversX has several ongoing courses, partnerships and hackathon initiatives in collaboration with several prestigious universities in both Europe and the US, through which we invest in educating students about blockchain technology and other emerging technologies,” the Sibians also say , in a press release sent to the attention of the readers of Turnul Sfatului.
“Neutral carbon footprint” and applications “intended to bring this technology into the mainstream” are among the reasons cited by MultiversX representatives to counter the assessments made by the Americans. “With all of this publicly available and verifiable information, the question that remains is what background checks were done prior to publication? Ignorance is at home in big houses too. This time at Forbes USA”, concludes those from MultiversX, who also provide links to sites from which, according to them, claims that contradict the American top can be verified.
Read below, in full format, the answer from MultiversX
On March 27th, an article titled “The Rise Of Crypto’s Billion Dollar Zombies” was published that presented MultiversX in a factually incorrect manner, later being picked up by several local media publications.
The article made several deeply erroneous claims that not only deviate from reality and affect the perception of MultiversX, but undermine the factual integrity expected in journalism.
Regrettably, these claims were made without any verification process, and unfortunately, MultiversX was not approached for comment or to verify these details prior to publication.
We believe in the importance of accurate and responsible journalism and feel that readers deserve a fairer and more comprehensive view of the topics discussed. To that end, we present the current state of affairs and progress of MultiversX below.
The current state of affairs
1. Focus – MultiversX as a network is uniquely positioned to serve three important categories in the coming period through the prism of performance and efficiency it offers: web3, artificial intelligence and spatial computing.
2. Innovation – MuliversX is a global leader in blockchain technology – MultiversX architecture is approximately 1000 times more scalable than Bitcoin or Ethereum and is one of the most scalable in the world at the moment. It is live, open source and can be checked here: https://github.com/MultiversX
3. Adoption – MultiversX has processed over 400 million transactions and has over 8,100 applications developed and launched on the network. All this information can be checked here: https://explorer.multiversx.com
4. Ecosystem – MutiversX has a vast ecosystem spanning 40 countries with many partners and applications that interact directly with the network and built technology. An image of the ecosystem can be seen here: https://multiversx.com/ecosystem
5. Startup Verticals – MultiversX has one of the most significant non-EVM DeFi ecosystems, with dozens of protocols and hundreds of millions of dollars in liquidity, constantly growing. The information can be checked here: https://defillama.com/chain/MultiversX
6. Carbon neutral – MultiversX has a carbon neutral footprint given both the performance and efficiency of the technology and the payment of carbon credits made to date. Information can be checked here: https://environment.multiversx.com
7. Academic and Developer Initiatives – MultiversX has several ongoing courses, partnerships and hackathon initiatives in collaboration with several prestigious universities in both Europe and the US, through which we invest in educating students about blockchain technology and other emerging technologies.
8. Global partnerships and support – MultiversX has several strategic partnerships with some of the world’s most important technology giants: Deutsche Telekom provides staking services, Google Cloud integrated MultiversX blockchain data into BigQuery, Tencent Cloud participates in the hackathons we organize and develop a program for startups in the ecosystem, and AWS provides rapid infrastructure solutions for developers.
9. xPortal & xMoney – In addition to the advanced and open source technology of the MultiversX network and the ever-growing ecosystem, MultiversX has also developed a number of applications aimed at bringing this technology into the mainstream. Among these, we can particularly check xPortal, a super financial app with over 1.5 million users and over 25,000 cards distributed, and xMoney, a product served by several companies in the portfolio, among which two of the companies are licensed and specialized in services in the financial area and thus directly regulated by the Romanian National Bank and the Central Bank of Portugal.
10. Conclusion – In conclusion, we believe that MultiversX sets a new standard in terms of blockchain technology performance, offers a number of outstanding development tools for startups and enterprises, a growing global ecosystem, a number of significant applications for users and a promising development prospect for the next period.
We encourage anyone interested to visit MultiversX.com to see first-hand what we do and how we contribute to the advancement of Blockchain. Also, for those passionate about technology and programming, our MultiversX platform offers a unique opportunity to build applications based on our technologies.
In conclusion, MultiversX is dedicated not only to excellence in innovation and technology, but also to the fairness and accuracy of the information presented about us. With all this publicly available and verifiable information, the question that remains is what source checks were done before publication? Ignorance is at home in big houses too. This time at Forbes USA.
Read also Former Elrond, currently MultiversX from Sibiu, appears in Forbes USA in a global top 20 of “blockchains that are good for nothing”
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by Traian Deleanu
Investigations, Administration
Phone:
0740 039 148
Email: traian[at]turnulsfatului.ro
