June 2017, Bonn, Stuttgart and Ouderkerk a.d. IJssel , The Netherlands. Syngenio AG, Crout GmbH and Quantoz N.V. have founded the Quasar Payment Network “QPN” Consortium.
QPN builds on a completely new infrastructure, using the “Quasar” blockchain technology, developed by Quantoz, as a basis, enabling peer to peer (micro) transactions between enterprises, consumers and the Internet of Things (IoT).
QPN addresses the evolving market of 50 billion IoT devices. This market has new requirements for payments – like instant irreversible micro payments between autonomous operating appliances – which cannot as easily be addressed by traditional payment systems. The QPN makes payments between „Things“ possible. Quasar instantly processes these peer-to-peer (micro) payments. The money is immediately available in the user’s (or machine’s) digital wallet.
The consortium is responsible for the commercial and technical exploitation of the QPN.
QPN offers a gateway between traditional bank accounts and digital wallets. This gateway enables a 1:1 conversion between fiat and digital money, eliminating volatility risk exposure for users. Through its data-sensitive design, QPN is compliant with regulations and fully scopes user privacy.
The QPN has been tested extensively for more than a year. The QPN technology received multiple awards over the past 12 months.
Third parties can make use of the QPN services via open API’s, enabling them to integrate Quasar in devices and applications. Through this full integration, manufacturers of IoT devices can develop new business models which monetize their products in completely new ways – for example, a “sensor which is paid by an automobile for providing information on current road conditions…“ as Henri De Jong, Head of Business Development at Quantoz, explains.
„The strong fit of Syngenio AGs strength in the financial and payment market, the experience of the IoT company Crout, and augmented by the Quantoz payment ledger, leads more and more synergies, new fields of joint actitivties, and further investment in the evergrowing field of IoT transactions.“ added Jürgen Funke, Executive Board Member of Syngenio AG.
Frank Kiesewetter, Managing Director Crout GmbH said: „Our company strategy is to focus on offering easy-to-use services, which do enable our customers to deploy their applications in the “Internet of Things”. The use of blockchain technologies will be a key requirement for many IoT applications in the future. Crout is proud of its membership in the QPN”.
QPN will be available for a selected group of companies starting July 1st and will successively open to more companies during the third quarter.
For more information visit www.quasarledger.com
About Quantoz N.V.
Founded in July 2015, Quantoz N.V. is an innovative, Dutch blockchain technology company which focuses on delivering pragmatic solutions and open, decentralized concepts. In the past years, Quantoz has best been known for its comprehensive infrastructures for cryptocurrency exchange and settlement services.
About Syngenio AG
From the onset, Syngenio AG acts for the customer’s success. Syngenio AG combines its knowledge of financial services, enterprise IT and augments this through purposeful cooperation to create value for their customers – which include financial service providers, telecommunications service providers or utilities. Syngenio AG ideates and implements solutions covering next generation banking, digital payments and high-quality software engineering for and with its customers. And, with its investment platform model, the “Gründungsplattform” Syngenio AG is also involved at the forefront in seed-investments as well as corporate joint-ventures.
About Crout GmbH
Founded in 2013, Crout GmbH is an independent supplier of services for the application integration into the IoT. Crout provides a wide range of services to resellers and end-customers on a worldwide, operator-independent, mobile communication based & managed connectivity solution on its its own core operating systems. Crout cooperates with different network operators like the Deutsche Telekom to enable the delivery of best-of-class services to their partners in any region of the world.
Jürgen Funke Syngenio AG, Tel.: +49 228 62095100 E-Mail:
Frank Kiesewetter, Crout GmbH, Tel.: +49 711 4903555, E-Mail:
Henri de Jong, Quantoz N.V., Tel.: +49 173 9230752, E-Mail: