#AE Jiaxing, China, July 26, 2024 - Aeternity Foundation has signed a Memorandum of Understanding (MOU) with Ningbo Wutong Talent Development Center to collaborate on innovative projects supporting the æternity blockchain. This MOU is a key element of the non-profit Aeternity Foundation's initiative to position æternity as a benchmark blockchain for business applications.

The protocol was reached after a series of bilateral meetings held in Beijing and Shanghai, including discussions with Shijingshan Innovation Park, Zhejiang Yangtze River Delta High-level Talent Innovation Park, Jiaxing Science and Technology City, and Pinghu Economic and Technological Development Zone. The Aeternity Foundation will continue to collaborate with leaders of these technology innovation parks and establish partnerships with Chinese companies interested in blockchain technology solutions. The foundation also collaborated with representatives from the Future Industry Education Center of Shijingshan, China to develop a framework to support large-scale eternal use cases such as Supply Chain management and life sciences.

"The cooperation with Ningbo Wutong Talent Development Center and other Chinese partners is the important first step in the new activity, which proves that 'æternity' is the most outstanding first layer of global enterprise applications," said Nikola Stojanow, Aeternity Foundation. "'æternity' is a 'mature blockchain' that has been in continuous development for more than seven years. It is a win-win for both innovators to cooperate with successful Chinese companies in the entrepreneurial stage."

Stojanow, a founding team member, returned to the Eternal Foundation at the end of 2023. Since his return, the team funded by this nonprofit organization has completed projects aimed at improving the functionality and interoperability of the Block chain, such as the ærc EVM Block chain bridge, Ceres (the first Hard Fork protocol upgrade since 2021), and the updated Superhero DEX Defi protocol.

Stojanow's next focus is to support enterprises that wish to integrate blockchain technology into their existing products. He cited the complex development tools, network stability of æternity, and the advanced protocol maintained by Klarna's founder CTO Erik Stenman as reasons why Chinese and global companies choosing æternity will benefit.

"China's support for innovation is amazing," said Laurent Martin, head of research funding at the China Eternal Foundation. "China's innovation parks provide 360-degree support for new startups and small businesses, helping companies in all aspects. The Aeternity Foundation will collaborate with its portfolio companies in all industries on specific projects aimed at developing blockchain technology."

Founded in 2016, æternity became the first blockchain unicorn in Europe in 2018 and launched its Mainnet in November of the same year. æternity stands out from other industry participants by introducing key technologies such as universal account (account abstraction), state channels, and local Zero-Knowledge Proof tools.

About Eternal Foundation
The Aeternity Foundation is a non-profit organization that supports the continuous development of the Aeternity Layer 1 blockchain protocol through Open Source collaboration. The foundation aims to promote the development and reliability of blockchain technology. It provides milestone-based funding in the form of grants to support initiatives focused on decentralization, development, and protection of the Aeternity network.

For more information, please visit aternity.foundation and aeternity.com.

Other links:

ærc EVM blockchain bridge
Superhero DEX
Introduction of Ningbo Wutong Talent Development Center
The Wutong Talent Development Center is an incubator that provides full-lifecycle services for enterprises in the field of technological innovation. It aims to support the economic benefits of enterprise development through social impact and sustainable talent development.

For more information, please visit the Gate.io global website.

Media Contact: Donna Semdani, Marketing Director of Aeternity Foundation