Who else would Beam partner with for dispute resolution on our platform, but the company headed by one of those responsible for the launch of Ethereum.
Vinay Gupta helped coordinate Ethereum’s 2015 release, as well as working as a strategic architect of Consensys, the leading crypto venture studio. He later became the designer of Dubai’s National Blockchain strategy. In addition to being the Blockchain Fellow for Digital Catapult, a UK government-funded initiative to increase the amount of innovation in the country, now he heads up Mattereum and Hexayurt Capital.
We’re turning to Mattereum’s efficient and technically savvy arbitration to underpin the rollout of our second generation tokenised network, enabling a truly global peer-to-peer market for marketing and payment services.
Mattereum will ensure that if things go wrong with the performance of a smart contract, trained arbitrators are available to correctly and efficiently resolve the dispute, so that our service providers can confidently do business with each other, regardless of where in the world they operate. Adding another level of trust in our platform.
It’s because of Mattereum’s core ambition that we knew we chose the right partners — their mission is to enable business on the blockchain, by creating a system of decentralised commercial law comprising smart property rights, automated smart contract execution, and reliable dispute resolution and enforcement.
As a reminder, our decentralised market for retailers already includes Costa Coffee, Subway and Tommy Hilfiger. Since 2011 we have built a payment network that today boasts over 5,000 brick-and-mortar retailers across three countries.
We’re simultaneously disrupting payments, marketing and retail by pioneering a model in which retailers, rather than spending money on marketing and hoping it works, pay service providers to achieve measurable results. Customers are paid for their data and incentivised with generous rewards to shop within the Beam ecosystem.
Mattereum CEO Vinay Gupta said:
“Beam shows how a commercial ecosystem embedded in the real economy can run today on thousands of smart contracts with millions of transactions, and how blockchain is key to scaling this platform globally”.
Christopher Wray, Mattereum’s Chief Legal Officer added:
“Mattereum is delighted to support Beam in one of the most compelling applications of smart contracts I’ve seen”.
“The future of the retail is efficient. We’ve been building that future since 2011, focusing on surrounding ourselves with those at the top of their game. In Mattereum I believe we have the perfect partner”,
said Beam’s Founder & CEO Serdar Nurmammedov.
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