Nexera NXRAPrice $ 0.00672

AllianceBlock is a decentralized protocol that aims to act as a bridge between traditional (TradFi) and decentralized finances (DeFi). According to the company, the protocol “automates the process of turning any digital asset, or crypto product, into bankable security with an internationally recognized Individual Securities Identification Number (ISIN)”. By design, the platform is a blockchain-agnostic layer 2 solution, using the Ethereum blockchain as a mainnet.

The Netherlands-based project was founded in 2018 by Rachid Ajaja (CEO), Matthijs de Vries (currently acting as CTO) and Amber Ghaddar. Large European startup incubators, Level39 (L39) and Station F, as well as Zurich Kickstart Innovation Program, accelerated the growth of the project.

The project aims to make the first globally compliant decentralized capital market. This will connect the worlds of decentralized and traditional finances, as well as automate or simplify converting any digital or crypto asset into a product recognized by traditional banking. The plan includes solving some issues in both spaces and making it easier for them to cooperate. 

Since the BonqDAO exploit involving ALBT tokens, AllianceBlock has released a statement on what happened, provided a technical report, published an overview of the snapshot and equitable token distribution strategy for the new AllianceBlock token, and publicized the audit report of the new token. Thinking the best for the community and AllianceBlock led to the decision to create a new token to replace the legacy ALBT token, taking on its utility but also ensuring that we are taking the opportunity to set the foundation for the next era of AllianceBlock. The AllianceBlock (ALBT) token will now be fully replaced by the AllianceBlock Nexera Token (NXRA). The legacy (original) ALBT token is fully deprecated and has no more utility, with NXRA completely taking over its utility and properties.

Historical data: Following the incident with Bonq involving ALBT token AllianceBlock team decided to issue a new token that will replace the utility of ALBT token. More info: https://medium.com/allianceblock/allianceblock-the-next-era-of-allianceblock-eabb78b29ac3.