Bridging finance and crypto with PARSIQ
What is PARSIQ?
PARSIQ is a blockchain monitoring and workflow automation platform connecting on-chain and off-chain applications in real-time. With PARSIQ one can connect blockchain activity to off-chain apps and devices, monitor and secure DeFi applications, and build custom event triggers and power real-time automations. Put simply, PARSIQ is a bridge between block chain data and real world action.
If the tech world is the world’s oceans, then continents are its centralized systems and Layer 1 blockchains (Ethereum, Bitcoin, etc) the islands. Instead of building another island, PARSIQ team decided to build a universal bridge between all islands and the continents spanning the oceans.
State of the market
Currently, there is a lot of focus on NFTs. Price speculation aside, this is the frontier of the web3 revolution with use-cases spanning from art, music, gaming, and metaverse application. PARSIQ have created the IQ protocol which facilitates lending/renting NFTs and other assets between users.
PARSIQ has no direct competitors. There are many crypto projects doing various parts of what PARSIQ does, but none that do it all. In short the PARSIQ technological approach is unique in the space. The Graph is perhaps the closest competitor because it is also a blockchain data management and infrastructure project. However the Graph is not a direct competitor because it is limited to pulling the historical data, not monitoring the events on the fly.
Why PARSIQ was founded
PARSIQ was founded in 2018 by Tom Tirman, Andre Kalinowski and Anatoly Ressin. Development work started in 2019 with a free beta. The token went live in 2019 with a full platform commercial release in May 2020. Most of the team are professional blockchain engineers who have built numerous blockchain systems and backends for crypto exchanges, etc. Each time they faced the same issue – they had to build something to connect blockchain activity to centralized applications, devices, user-facing front-ends, legacy systems and other off-chain networks.
So that’s when the decision was made to build a platform where absolutely anyone (coder or non-coder, individual, team or enterprise) can build and deploy blockchain to off-chain connections with just a few clicks or a few lines of code., The object was to build a system with: no need to host nodes or server infrastructure, no need to build narrow non-scalable solutions in-house, no need to spend funds and development resource and no need to face the complexity of tracking blockchains in real time at scale.
Since then PARSIQ have: 45,000+ registered users 60,000+ actively deployed Smart-Triggers $25 billion+ worth of transactions processed 80+ corporate partners/clients They have also recently launched a new product, IQ Protocol, a transparent, open-source solution that can be applied to any subscription-based project simply. The PARSIQ team is here to help with initial development. The IQ Protocol is revolutionary in bringing a circular economy to lifetime value tokens and on chain subscriptions, finding the right balance between project tokenomics & platform use. Bringing on chain subscriptions a direct link to every project's native token creates a perfect feedback circle of revenue, risk free lending & borrowing with dynamic non-inflationary APY’s and token value.
The team and culture
The team is led by CEO, Tom Tirman, who has extensive experience in business and finance, having worked in both traditional banking institutions and fintech companies as well as having been an entrepreneur. The team of 15-20 is divided across the two products, PARSIQ and IQ Protocol, and a marketing team of 5 whichs covers both. The international roster of employees span 4 continents, from Siberia to San Francisco.
Employees are given a high degree of autonomy and accountability to deliver on their KPIs and push the project forwards. In addition to the direct employees, the PARSIQ Swarm is a group of crypto builders who work-0n and promote PARSIQ activities within their region.
Quote from the founder
“PARSIQ aims to become the go-to enabler of widespread adoption of blockchain technologies, by giving everyone the ability to understand and manipulate blockchain data streams across different mediums and infrastructures.”
Mission – “To develop complete ecosystems of technologies that coordinate developments of trustless data exchange protocols, to enable better harnessing and utilization of blockchain data in both crypto and mainstream business uses. We shall act as the fundamental bridge between and within WEB2 and WEB3, by providing data processing, interoperability, and automation while reducing costs and complexities.”
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