There can never be enough competition in the world of blockchain technology. The people responsible for creating the Tari protocol certainly seem to agree. This new solution will enhance the digital asset experience by introducing increased convenience, security, and liquidity. It is a tall order, although the project has some significant people backing it.
The Purpose of the Tari Protocol
It is always interesting to see how existing cryptocurrency and blockchain developers are trying to bring major changes to these industries. In the case of Tari, the new digital asset experience protocol aims to bring positive changes in the coming months and years. This particular venture was created by a team of veterans, including the lead maintainer of Monero, the CEO of a music merchandising company, and the co-founder of Ticketfly.
The project is an open source blockchain protocol designed specifically for digital assets. Tari is not just for developers or corporations, as it targets consumers as well. Given the increasing interest in digital assets, there is a growing need for more convenient solutions when it comes to managing these assets. Tari wants to make that happen, as the project is mainly interested in digital assets outside the realm of cryptocurrency.
More specifically, the current focus ranges from event tickets to in-game items and loyalty points. Although blockchain-based solutions exist in this regard already, there are still restrictions to contend with. Corporations and service providers currently struggle to control assets after distribution, mainly because there is no adequate infrastructure in place to make this process easier.
The negative side of that approach is that it prevents companies and consumers from reselling or transferring digital assets. It leaves a potential revenue stream completely untapped and causes unnecessary friction. Tari is designed to change this by letting businesses and companies manage and transfer digital assets in a flexible manner. It should also help reduce the number of fraudulent digital assets, which is extremely important where event tickets are concerned, for example.
Tari’s co-founder, Riccardo Spagni, comments:
I’m excited to draw from my experience to build something on top of Monero, and to create a modern digital assets-focused protocol that leverages the Rust programming language. We have the resources to expand Monero’s world-class developer community, and I look forward to launching and stewarding a next-generation protocol that is truly useful.
It is evident that bringing blockchain technology to major industries will be challenging. It seems to be an ideal solution for digital asset management, but most existing projects aren’t suited for this specific purpose as of right now. Whether or not Tari can make a meaningful impact in this area remains to be determined. It is good to see more competition in this regard, especially when it is an open source platform rather than a proprietary implementation.