Suppliers > United States > ConsenSys

ConsenSys

Overview

HQ Location United States	Year Founded 2014	Company Type Private	Revenue < $10m
Employees 201 - 1,000	Website Open website	Twitter Handle @Consensys

Company Description

Consensys is a Blockchain software company working at the forefront of the decentralized web. Its full-stack Ethereum products help developers build next-generation networks.

IoT Snapshot

ConsenSys is a provider of Industrial IoT application infrastructure and middleware, platform as a service (paas), infrastructure as a service (iaas), networks and connectivity, functional applications, and sensors technologies, and also active in the cement, electrical grids, finance and insurance, oil and gas, paper and pulp, and retail industries.

Technologies

Infrastructure as a Service (IaaS)

Platform as a Service (PaaS)

Application Development Platforms

Networks & Connectivity

Application Infrastructure & Middleware

Functional Applications

Enterprise Asset Management Systems (EAM)

Use Cases

Asset Lifecycle Management

Building Automation & Control

Construction Management

Experimentation Automation

Infrastructure Inspection

Inventory Management

Last Mile Delivery

Leasing Finance Automation

Machine to Machine Payments

Port Automation

Retail Store Automation

Smart Contracts

Tamper Detection

Time Sensitive Networking

Functional Areas

Logistics & Transportation

Product Research & Development

Quality Assurance

Industries

Electrical Grids

Finance & Insurance

Services

System Integration

Testing & Certification

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Technology Stack

ConsenSys’s Technology Stack maps ConsenSys’s participation in the application infrastructure and middleware, platform as a service (paas), infrastructure as a service (iaas), networks and connectivity, functional applications, and sensors IoT Technology stack.

Devices Layer
Robots

Drones

Wearables

Edge Layer
Automation & Control

Processors & Edge Intelligence

Actuators

Sensors

Cloud Layer
Platform as a Service (PaaS)

Infrastructure as a Service (IaaS)

Application Layer
Functional Applications

Supporting Technologies
Analytics & Modeling
Application Infrastructure & Middleware
Cybersecurity & Privacy
Networks & Connectivity

Technological Capability:

None

Minor

Moderate

Strong

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Technology Landscape.

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Case Studies.

MetaMask Swaps: Removing User Frictions from P2P Trading

The year 2020 saw the largest scale adoption of decentralized exchanges (DEXs). Compared to centralized exchanges, DEXs offer more pairs when trading, provide access to a greater diversity of tokens, and enable non-custodial swaps that keep funds safer. However, DEX users often don’t receive the best price when there is insufficient liquidity, or if a particular DEX doesn’t offer the most attractive price. Before MetaMask Swaps, users needed to navigate many DEXs to compare prices and swap tokens. However, using a single DEX or DEX aggregator did not always yield the best price for every trade, as each aggregator performs differently under different circumstances. Additionally, users needed to approve each token on each DEX, incurring expensive gas costs.

Proof of Concept for Her Majety’s Land Registry (HMLR) demonstrates the ability of blockchain technology to increase transparency and cut costs in real estate

Her Majesty’s Land Registry (HMLR), the UK government department responsible for recording 25 million ownership titles on lands and properties valued at over £7 trillion, was facing several challenges in the real estate market. The existing process was cumbersome and costly, with high minimum tickets for investment, multiple dislocated parties and expensive intermediaries required for transactions, and low levels of transparency. The secondary markets were isolated and continued to rely on manual processing. Individuals and companies seeking to participate in the real estate sector had to rely on agents to manage the owner registry, transaction, and administration. This process was inefficient and added multiple layers of cost and friction.

MetaMask Swaps: Removing User Frictions from P2P Trading

The year 2020 saw the largest scale adoption of decentralized exchanges (DEXs). Compared to centralized exchanges, DEXs offer more pairs when trading, provide access to a greater diversity of tokens, and enable non-custodial swaps that keep funds safer. However, DEX users often don’t receive the best price when there is insufficient liquidity, or if a particular DEX doesn’t offer the most attractive price. Before MetaMask Swaps, users needed to navigate many DEXs to compare prices and swap tokens. However, using a single DEX or DEX aggregator did not always yield the best price for every trade, as each aggregator performs differently under different circumstances. Additionally, users needed to approve each token on each DEX, incurring expensive gas costs.

Covantis Case Study: Modernizing Global Supply Chains with ConsenSys Blockchain Solutions

The global agricultural trade industry has been grappling with outdated and inefficient processes. The industry has not seen significant technological innovation since the mass adoption of email 30 years ago, making global supply chain management increasingly challenging. The need to track more partners, suppliers, and endpoints has become more complex, and post-trade execution remains highly manual, repetitive, costly, and time-consuming. The industry is heavily reliant on paper-based processes and email exchanges, with over 275 million emails exchanged annually to process an estimated 11,000 worldwide shipments of grain. Paper-based certificates and bills of lading are not easily exchanged among multiple parties, and replacing them if misplaced is costly. The COVID-19 pandemic has further disrupted supply chains due to interruptions to paper document deliveries and the increasing necessity to work from home, accelerating the need for digital transformation.

Mata Capital: Blockchain Case Study on Real Estate Investment Management

Mata Capital, a French real estate fund management company, was facing challenges in distributing fund shares and maintaining its investor registry. The traditional processes were cumbersome, costly, and relied heavily on paper-based systems. The company was also grappling with substantial administrative costs, especially for small investment tickets for Know-Your-Customer (KYC) and registration activities. This resulted in high minimum investment subscription amounts, limiting the pool of potential investors. Furthermore, investors had limited access to secondary markets, making it difficult for them to trade assets as required by their portfolio allocation strategies. Mata Capital sought to modernize and optimize these processes, with a long-term vision to reduce minimum investor subscription amounts from €100,000 to €1, thereby attracting a wider and more diverse pool of investors to real estate asset investments.

Consensys and Societe Generale - FORGE's Collaboration on First Digital Bond Issuance on Ethereum

Societe Generale - FORGE, the digital capital markets platform of the Societe Generale Group, was part of the European Investment Bank's first digital bond on a public blockchain. On 27 April 2021, the EIB launched a multi-dealer unsubordinated, unsecured 2-year bond issuance (EUR 100,000,000) on the Ethereum mainnet, for the registration and settlement of the securities, in collaboration with Goldman Sachs, Santander and Societe Generale. The payment of the issue monies from the underwriters to the EIB were represented on the Ethereum mainnet in the form of Central Bank Digital Currency (CBDC). This transaction was part of a partnership announced in October 2020, under which terms Societe Generale - FORGE selected Consensys to provide technology and services for its ongoing CBDC pilot activities through its Codefi Payments product.

Palm: Revolutionizing the NFT Ecosystem with Energy-Efficient Blockchain Technology

The rise of Non-Fungible Tokens (NFTs) has revolutionized the way artists and creators connect with buyers, fans, and collectors. However, the current NFT ecosystem, primarily based on Ethereum's blockchain, faces significant challenges. These include high gas costs, slow transaction finality, and a lack of energy efficiency, with proof of work systems consuming vast amounts of energy. Additionally, there is a need for a platform that can support the trading of art assets within the ecosystem. The challenge was to create an NFT ecosystem that addresses these issues while providing an optimized experience for artists and creators.

Consensys and Mastercard Collaborate to Enhance Scalability and Privacy on Ethereum Mainnet

The Ethereum network has seen a surge in usage, with over 177 million Ethereum addresses in existence and tens of thousands added each day. This high network usage, while signaling strong adoption, also points to a need for scalability and privacy-enhancing solutions. The challenge was to provide a solution that could handle the increasing demand for transactions on the Ethereum Mainnet and permissioned blockchains, while also ensuring privacy and confidentiality of transactions. The need for scalability was particularly pressing in areas such as decentralized finance (DeFi), non-fungible tokens (NFT), gaming, Web 3.0 and the metaverse, where the creativity of projects on Ethereum is exploding.

Damien Hirst’s NFT Collection: A Case Study on the Palm Network

In July 2021, renowned artist Damien Hirst released his first NFT collection, 'The Currency', on Palm, an Ethereum sidechain. The collection consisted of 10,000 NFTs, each corresponding to a unique physical artwork stored in a secure vault in the UK. The project aimed to explore the boundaries of art and currency, challenging collectors to choose between the digital NFT or the physical artwork, with the unchosen one being destroyed. The challenge was to successfully allocate, mint, and distribute these NFTs to over 32,000 users from 130 countries who applied to purchase them. The process needed to be seamless and accessible, even for users new to the Web3 space. Furthermore, the project required a secure and efficient platform to handle the high volume of transactions and the unique nature of the NFTs.

GroundX and Consensys Collaborate on Bank of Korea's Digital Currency Project

The Bank of Korea was seeking a partner for its Central Bank Digital Currency (CBDC) pilot project. The project aimed to develop a digital version of the Korean Won with advanced features such as cross-border payments, offline payment, and integration with digital asset systems. The project was divided into two phases, with the first focusing on basic functionality such as creating, issuance, and redemption of the digital won, and the second phase exploring more advanced features. The challenge was to develop a secure, transparent, highly available, auditable, and efficient digital currency system that could handle both confidential wholesale transfers and scalable retail transactions.

Consensys and Bank of Thailand Collaborate on Central Bank Digital Currency Project

The Bank of Thailand, in collaboration with SCG and Digital Ventures (DV), was exploring the potential of blockchain technology for the development of a Central Bank Digital Currency (CBDC). The challenge was to develop a proof-of-concept prototype for a CBDC project that could meet both the functional and non-functional requirements of a retail CBDC. The bank aimed to test the use of a CBDC to simulate daily commerce, automate payments, and support a procurement and financial management system called Procure-to-Pay (B2P) developed by DV. However, the bank needed a technology partner to develop and test this prototype.

Reserve Bank of Australia's Exploration of Central Bank Digital Currency with Partners

The Reserve Bank of Australia (RBA) is keen to explore the potential use and implications of a wholesale form of central bank digital currency (CBDC) using distributed ledger technology (DLT). The challenge lies in the development of a proof-of-concept (POC) for the issuance of a tokenised form of CBDC that can be used by wholesale market participants for the funding, settlement, and repayment of a tokenised syndicated loan on an Ethereum-based DLT platform. The RBA aims to understand the implications of 'atomic' delivery-versus-payment settlement on a DLT platform as well as other potential programmability and automation features of tokenised CBDC and financial assets.

Consensys and Hong Kong Monetary Authority's Collaboration on Project Inthanon-LionRock

The Hong Kong Monetary Authority (HKMA) and the Bank of Thailand (BOT) initiated Project Inthanon-LionRock in May 2019. The project aimed to explore the application of a central bank digital currency (CBDC) for cross-border payments. The challenge was to develop a technology that could support a proof-of-concept for a central bank digital currency. The technology needed to prioritize scalability, security, and interoperability. The project was in its second implementation phase and required a partner with experience in designing and delivering decentralized payment networks.

Consensys and Societe Generale - Forge: A Partnership for Central Bank Digital Currency Experiments

Societe Generale - Forge, the digital capital markets platform of the Societe Generale Group, was in need of technology and services for its ongoing Central Bank Digital Currency (CBDC) pilot activities. The challenge was to continue building upon its recent groundbreaking achievements such as the issuance of a 100 million Euro covered bond on blockchain in 2019, and the issuance of a 40 million Euro bond that was settled with a CBDC in 2020, a joint project with the Banque de France, the French central bank. The focus was on CBDC issuance and management, delivery versus payment, and cross-ledger interoperability.

MetaMask Swaps: Removing User Frictions from P2P Trading

The year 2020 saw the largest scale adoption of decentralized exchanges (DEXs). Compared to centralized exchanges, DEXs offer more pairs when trading, provide access to a greater diversity of tokens, and enable non-custodial swaps that keep funds safer. However, DEX users often don’t receive the best price when there is insufficient liquidity, or if a particular DEX doesn’t offer the most attractive price. Before MetaMask Swaps, users needed to navigate many DEXs to compare prices and swap tokens. However, using a single DEX or DEX aggregator did not always yield the best price for every trade, as each aggregator performs differently under different circumstances. Additionally, users needed to approve each token on each DEX, incurring expensive gas costs.

Proof of Concept for Her Majety’s Land Registry (HMLR) demonstrates the ability of blockchain technology to increase transparency and cut costs in real estate

Her Majesty’s Land Registry (HMLR), the UK government department responsible for recording 25 million ownership titles on lands and properties valued at over £7 trillion, was facing several challenges in the real estate market. The existing process was cumbersome and costly, with high minimum tickets for investment, multiple dislocated parties and expensive intermediaries required for transactions, and low levels of transparency. The secondary markets were isolated and continued to rely on manual processing. Individuals and companies seeking to participate in the real estate sector had to rely on agents to manage the owner registry, transaction, and administration. This process was inefficient and added multiple layers of cost and friction.

MetaMask Swaps: Removing User Frictions from P2P Trading

The year 2020 saw the largest scale adoption of decentralized exchanges (DEXs). Compared to centralized exchanges, DEXs offer more pairs when trading, provide access to a greater diversity of tokens, and enable non-custodial swaps that keep funds safer. However, DEX users often don’t receive the best price when there is insufficient liquidity, or if a particular DEX doesn’t offer the most attractive price. Before MetaMask Swaps, users needed to navigate many DEXs to compare prices and swap tokens. However, using a single DEX or DEX aggregator did not always yield the best price for every trade, as each aggregator performs differently under different circumstances. Additionally, users needed to approve each token on each DEX, incurring expensive gas costs.

Covantis Case Study: Modernizing Global Supply Chains with ConsenSys Blockchain Solutions

The global agricultural trade industry has been grappling with outdated and inefficient processes. The industry has not seen significant technological innovation since the mass adoption of email 30 years ago, making global supply chain management increasingly challenging. The need to track more partners, suppliers, and endpoints has become more complex, and post-trade execution remains highly manual, repetitive, costly, and time-consuming. The industry is heavily reliant on paper-based processes and email exchanges, with over 275 million emails exchanged annually to process an estimated 11,000 worldwide shipments of grain. Paper-based certificates and bills of lading are not easily exchanged among multiple parties, and replacing them if misplaced is costly. The COVID-19 pandemic has further disrupted supply chains due to interruptions to paper document deliveries and the increasing necessity to work from home, accelerating the need for digital transformation.

Mata Capital: Blockchain Case Study on Real Estate Investment Management

Mata Capital, a French real estate fund management company, was facing challenges in distributing fund shares and maintaining its investor registry. The traditional processes were cumbersome, costly, and relied heavily on paper-based systems. The company was also grappling with substantial administrative costs, especially for small investment tickets for Know-Your-Customer (KYC) and registration activities. This resulted in high minimum investment subscription amounts, limiting the pool of potential investors. Furthermore, investors had limited access to secondary markets, making it difficult for them to trade assets as required by their portfolio allocation strategies. Mata Capital sought to modernize and optimize these processes, with a long-term vision to reduce minimum investor subscription amounts from €100,000 to €1, thereby attracting a wider and more diverse pool of investors to real estate asset investments.

Consensys and Societe Generale - FORGE's Collaboration on First Digital Bond Issuance on Ethereum

Societe Generale - FORGE, the digital capital markets platform of the Societe Generale Group, was part of the European Investment Bank's first digital bond on a public blockchain. On 27 April 2021, the EIB launched a multi-dealer unsubordinated, unsecured 2-year bond issuance (EUR 100,000,000) on the Ethereum mainnet, for the registration and settlement of the securities, in collaboration with Goldman Sachs, Santander and Societe Generale. The payment of the issue monies from the underwriters to the EIB were represented on the Ethereum mainnet in the form of Central Bank Digital Currency (CBDC). This transaction was part of a partnership announced in October 2020, under which terms Societe Generale - FORGE selected Consensys to provide technology and services for its ongoing CBDC pilot activities through its Codefi Payments product.

Palm: Revolutionizing the NFT Ecosystem with Energy-Efficient Blockchain Technology

The rise of Non-Fungible Tokens (NFTs) has revolutionized the way artists and creators connect with buyers, fans, and collectors. However, the current NFT ecosystem, primarily based on Ethereum's blockchain, faces significant challenges. These include high gas costs, slow transaction finality, and a lack of energy efficiency, with proof of work systems consuming vast amounts of energy. Additionally, there is a need for a platform that can support the trading of art assets within the ecosystem. The challenge was to create an NFT ecosystem that addresses these issues while providing an optimized experience for artists and creators.

Consensys and Mastercard Collaborate to Enhance Scalability and Privacy on Ethereum Mainnet

The Ethereum network has seen a surge in usage, with over 177 million Ethereum addresses in existence and tens of thousands added each day. This high network usage, while signaling strong adoption, also points to a need for scalability and privacy-enhancing solutions. The challenge was to provide a solution that could handle the increasing demand for transactions on the Ethereum Mainnet and permissioned blockchains, while also ensuring privacy and confidentiality of transactions. The need for scalability was particularly pressing in areas such as decentralized finance (DeFi), non-fungible tokens (NFT), gaming, Web 3.0 and the metaverse, where the creativity of projects on Ethereum is exploding.

Damien Hirst’s NFT Collection: A Case Study on the Palm Network

In July 2021, renowned artist Damien Hirst released his first NFT collection, 'The Currency', on Palm, an Ethereum sidechain. The collection consisted of 10,000 NFTs, each corresponding to a unique physical artwork stored in a secure vault in the UK. The project aimed to explore the boundaries of art and currency, challenging collectors to choose between the digital NFT or the physical artwork, with the unchosen one being destroyed. The challenge was to successfully allocate, mint, and distribute these NFTs to over 32,000 users from 130 countries who applied to purchase them. The process needed to be seamless and accessible, even for users new to the Web3 space. Furthermore, the project required a secure and efficient platform to handle the high volume of transactions and the unique nature of the NFTs.

GroundX and Consensys Collaborate on Bank of Korea's Digital Currency Project

The Bank of Korea was seeking a partner for its Central Bank Digital Currency (CBDC) pilot project. The project aimed to develop a digital version of the Korean Won with advanced features such as cross-border payments, offline payment, and integration with digital asset systems. The project was divided into two phases, with the first focusing on basic functionality such as creating, issuance, and redemption of the digital won, and the second phase exploring more advanced features. The challenge was to develop a secure, transparent, highly available, auditable, and efficient digital currency system that could handle both confidential wholesale transfers and scalable retail transactions.

Consensys and Bank of Thailand Collaborate on Central Bank Digital Currency Project

The Bank of Thailand, in collaboration with SCG and Digital Ventures (DV), was exploring the potential of blockchain technology for the development of a Central Bank Digital Currency (CBDC). The challenge was to develop a proof-of-concept prototype for a CBDC project that could meet both the functional and non-functional requirements of a retail CBDC. The bank aimed to test the use of a CBDC to simulate daily commerce, automate payments, and support a procurement and financial management system called Procure-to-Pay (B2P) developed by DV. However, the bank needed a technology partner to develop and test this prototype.

Reserve Bank of Australia's Exploration of Central Bank Digital Currency with Partners

The Reserve Bank of Australia (RBA) is keen to explore the potential use and implications of a wholesale form of central bank digital currency (CBDC) using distributed ledger technology (DLT). The challenge lies in the development of a proof-of-concept (POC) for the issuance of a tokenised form of CBDC that can be used by wholesale market participants for the funding, settlement, and repayment of a tokenised syndicated loan on an Ethereum-based DLT platform. The RBA aims to understand the implications of 'atomic' delivery-versus-payment settlement on a DLT platform as well as other potential programmability and automation features of tokenised CBDC and financial assets.

Consensys and Hong Kong Monetary Authority's Collaboration on Project Inthanon-LionRock

The Hong Kong Monetary Authority (HKMA) and the Bank of Thailand (BOT) initiated Project Inthanon-LionRock in May 2019. The project aimed to explore the application of a central bank digital currency (CBDC) for cross-border payments. The challenge was to develop a technology that could support a proof-of-concept for a central bank digital currency. The technology needed to prioritize scalability, security, and interoperability. The project was in its second implementation phase and required a partner with experience in designing and delivering decentralized payment networks.

Consensys and Societe Generale - Forge: A Partnership for Central Bank Digital Currency Experiments

Societe Generale - Forge, the digital capital markets platform of the Societe Generale Group, was in need of technology and services for its ongoing Central Bank Digital Currency (CBDC) pilot activities. The challenge was to continue building upon its recent groundbreaking achievements such as the issuance of a 100 million Euro covered bond on blockchain in 2019, and the issuance of a 40 million Euro bond that was settled with a CBDC in 2020, a joint project with the Banque de France, the French central bank. The focus was on CBDC issuance and management, delivery versus payment, and cross-ledger interoperability.

MetaMask Swaps: Removing User Frictions from P2P Trading

The year 2020 saw the largest scale adoption of decentralized exchanges (DEXs). Compared to centralized exchanges, DEXs offer more pairs when trading, provide access to a greater diversity of tokens, and enable non-custodial swaps that keep funds safer. However, DEX users often don’t receive the best price when there is insufficient liquidity, or if a particular DEX doesn’t offer the most attractive price. Before MetaMask Swaps, users needed to navigate many DEXs to compare prices and swap tokens. However, using a single DEX or DEX aggregator did not always yield the best price for every trade, as each aggregator performs differently under different circumstances. Additionally, users needed to approve each token on each DEX, incurring expensive gas costs.

Proof of Concept for Her Majety’s Land Registry (HMLR) demonstrates the ability of blockchain technology to increase transparency and cut costs in real estate

Her Majesty’s Land Registry (HMLR), the UK government department responsible for recording 25 million ownership titles on lands and properties valued at over £7 trillion, was facing several challenges in the real estate market. The existing process was cumbersome and costly, with high minimum tickets for investment, multiple dislocated parties and expensive intermediaries required for transactions, and low levels of transparency. The secondary markets were isolated and continued to rely on manual processing. Individuals and companies seeking to participate in the real estate sector had to rely on agents to manage the owner registry, transaction, and administration. This process was inefficient and added multiple layers of cost and friction.

MetaMask Swaps: Removing User Frictions from P2P Trading

The year 2020 saw the largest scale adoption of decentralized exchanges (DEXs). Compared to centralized exchanges, DEXs offer more pairs when trading, provide access to a greater diversity of tokens, and enable non-custodial swaps that keep funds safer. However, DEX users often don’t receive the best price when there is insufficient liquidity, or if a particular DEX doesn’t offer the most attractive price. Before MetaMask Swaps, users needed to navigate many DEXs to compare prices and swap tokens. However, using a single DEX or DEX aggregator did not always yield the best price for every trade, as each aggregator performs differently under different circumstances. Additionally, users needed to approve each token on each DEX, incurring expensive gas costs.

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