Win For Pinoys: Prismo Tech Gets Spot in Polygon Accelerator

Prismo, a Filipino-led layer-two hybrid public-private blockchain platform, has been chosen as one of the eight projects in the first cohort of Quadratic Accelerator. 

What’s the significance: As a hybrid public-private blockchain, Prismo could address the critical needs of large enterprises and even governments considering using blockchain in transactions and data management. (Read more: DICT Wants to Bring Back Transparency and Accountability in Govt Using Blockchain)

Key details:

The first cohort of startups and strategic partnerships for Quadratic Accelerator was first announced on October 2, 2024. 

• What is Quadratic Accelerator? It is a Polygon-based web3 accelerator that aims to enable community-first, fair launches for blockchain-based projects. 
• The Technology Behind: Quadratic Accelerator uses the q/acc protocol, which combines “Quadratic Funding” with “Augmented Bonding Curves.”
  • The protocol is deployed in Polygon zkEVM, combining the scalability of Layer 2 with the security of Ethereum’s Layer 1, resulting to reduced transaction costs, faster finality, and privacy-preserving zero-knowledge proofs.
• Benefits of q/acc Protocol: q/acc will allow projects to bootstrap and scale token economies with their community at their center, according to the accelerator.
  • It is because this protocol drives long-term value and alignment across protocols, projects, and communities. 
  • In addition to a clear tokenization strategy, projects are also expected to benefit from grants that will scale their token economies.

“Serious People, CoUnity, and MIDAO each bring unique expertise to the Accelerator. Together, our partners offer tailored support that accelerates development, strengthens community engagement, and positions our cohort for sustainable market success.”

Quadratic Accelerator

Quadratic Accelerator Projects

The Eight Projects of Quadratic Accelerator’s First Cohort: Aside from Prismo, the following are also among the first cohort of Quadratic Accelerator. 

• Akarun, a mobile game where players race custom runners tied to live market assets. The fastest runner linked to the top-performing asset wins.
• Ancient Beast, an open-source, match-based (1v1 or 2v2) eSports strategy game played against other people or AI. 
• Citizen Wallet, a crypto wallet with web3 tools so projects can launch, use, and manage community tokens by just using a mobile app and NFC wallets.
• DjookyX, a decentralized exchange focused on listing asset-backed music tokens that represent shares in song royalty rights, allowing users to earn passive income from music monetization.
• The Grand Timeline, a historical research and data visualization project about the entire history of blockchains and web3. 
• x23, a solution for decentralized organizations that integrates AI tools to streamline the operation and governance of DAOs.
• Xade Finance, a decentralized platform driven by AI insights and tools that claims to build the AI-powered Robinhood of DeFi. 

“We’re thrilled to announce that we’ve been selected as part of the first Q/ACC cohort, standing out among more than 200 applications. This achievement is not just for us, but a proud moment for all Filipino builders. It’s a testament to the innovation and talent emerging from the Philippines, and we’re excited to represent our community on this incredible journey. The token that we will be launching should’ve a big and massive impact since some of it will go to quadratic funding and augmented boding curve process.”

Paul Soliman, Team Leader, Prismo

About Prismo

Prismo Technology is a L2 blockchain that seeks to revolutionize data integrity, transactional transparency, and accountability in digital transactions. 

• The Problem: According to its team, existing blockchains cannot fully protect government and enterprise-sensitive data.
• The Solution: Thus, they are building a hybrid private-public blockchain that will ensure confidentiality and compliance while maintaining transparency and decentralized trust.
• Use Case: Prismo’s solution is said to provide the perfect balance for secure and efficient data management.
• Target Users: This secure and efficient data management will mostly be integrated by enterprises and government organizations.
  • Prismo also shared that they are committed to facilitating the transition of these entities from traditional technologies to blockchain.
• Onboarding Process: For the team, they will be merging the best practices of traditional Enterprise Resource Planning systems with the potential of blockchain technology to offer a suite of innovative solutions tailored for enterprises and governments.
• Main Feature: Prismo Technology will introduce Prismo Accountability Layer, an initiative that combines advanced security features with transparency and integrity to ensure that every transaction is secure and transparent, and that every piece of data is protected.
• The Technologies of Prismo: The project is anchored by PrismoChain and the Prismo Public Protocol, which will have new standards in how transactions and data are managed, verified, and recorded in a decentralized manner.

“A hybrid public-private blockchain is crucial because governments and enterprises cannot upload sensitive data publicly due to privacy and security concerns. Prismo addresses this by allowing non-sensitive information to be publicly accessible while keeping sensitive data private. This dual approach ensures transparency where possible and confidentiality where necessary, making it suitable for complex and sensitive use cases like government records and enterprise transactions.”

Prismo Technology

Timeline: 

• Q4 2024 (Ongoing): Public Testnet Launch and Community Incentivization 
• Q4 2024 (Target): Prismo Nodes Sale and Token Incentivization 
• Q4 2024 (Target): Token Launch
• Q2 2025: Mainnet Launch
• Future Plans: Onboard Stakeholders

Currently, Prismo is still raising funds to build the full-spectrum blockchain. 

• However, there is a functioning minimum viable product (MVP) already implemented within the Department of Budget and Management of the country, they shared. 
• Between the lines: This MVP demonstrates ‌Prismo’s potential and effectiveness in real-world applications.

The Team

The team is composed of Filipinos committed to promoting blockchain technology in the country. 

• Paul Soliman with 14 years of experience in enterprise technology and a four-time Microsoft MVP. He is also currently a Microsoft Regional Director and a board member of Blockchain Council of the Philippines.
• Raphael Sevilla with four years of experience of operational and executive leadership for web3 companies focusing on infrastructure, RWA, and gaming.
• Gelo Wong with ventures in technology, real estate, and food and beverage sectors with created a value of over $20 million.
• Vandy Pesarillo with 10 years of experience as a Creative Technologist in advertising and three years of experience as a product director in various web3 companies and projects
• Jason Cruz with five years in software engineering and four years of experience in blockchain industry. 
• Alfred Quiambao with three years of experience in web3 growth and ventures in technology, retail trading, and food and beverage sectors
• Atty. Raymond Rodis with five years of experience as founder of Startup Law and Digest PH and three years of experience as web3 consultant. 

Prismo Advisors

• Eprom Galang, the Product Innovation Head of Globe Philippines and the Former Managing Director of Coins.ph. 
• Donald Lim, the President of DITO CME Philippines and the former Chief Digital Officer of ABS-CBN Philippines.

Partners: 

• Bayanichain
• Microsoft
• Polygon
• GCash
• DITO Telecom
• Intellectual Property Office of the Philippines
• Department of Budget and Management

“Bayanichain will take the lead as the first and major contributor in building Prismo, a groundbreaking Layer 2 blockchain integrated with homomorphic encryption and a vector database. This technology will be a core component in our government and enterprise projects, enabling secure and efficient solutions for our partners.”

Paul Soliman, Team Leader, Prismo

This article is published on BitPinas: Filipino Blockchain Startup Prismo Joins Polygon-backed Quadratic Accelerator

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