TORONTO – May 17, 2021 – Toronto-based software start up, Parsedata, today announced that it was named the winner of the R3 Corda 5G Challenge. Parsedata was unanimously recognized for its innovative use of Corda blockchain running over 5G to enable EV battery asset monetization, commonly known as V2G (vehicle-to-grid).
Parsedata adopted its peer-to-peer asset tokenization platform to address major hurdles with implementation over 5G, including transaction scalability and security, and offering a SDN–NFV network function. Judges lauded the innovative approach in creating the first of its kind marketplace for energy assets transacted through Corda blockchain, calling it “brilliant”.
Parsedata enhances what carriers can offer with:
“We are excited to announce that Parsedata was named the winner of the R3 Corda 5G Challenge,” said Jay Fallah, co-founder and CTO, Parsedata. “Over the last four months we have been hard at work developing our asset tokenization platform to run across 5G networks, and we believe that the future of V2G could be offered as a service by carriers today, as part of their 5G rollout.
The R3 Corda 5G challenge pitted more than 80 start-ups, ISVs and telecom companies from around the world through three rounds over the past several months. Parsedata emerged as the unanimous choice by R3 and the sponsors of the challenge – Amazon Web Services (AWS), Swisscom and Vodafone.
Parsedata’s peer-to-peer commerce platform enables asset sharing for infrastructure projects. It solves the chicken-and-egg problem for infrastructure projects by enabling financial incentives and market forces – rather than just government taxation – to help drive change. The Toronto-based software start-up recently won the R3 Corda 5G Challenge for its innovative implementation of EV battery asset monetization, commonly known as V2G, over 5G networks.