According to the announcement made by the HBAR Foundation, it has awarded TYMLEZ a grant to further its partnership with Hedera. TYMLEZ will now be able to develop solutions that are secure, trusted, and scalable.
These solutions will be utilized for ESG Compliance, Voluntary Carbon Market, and Guarantee of Origin. For this purpose, TYMLEZ will leverage its ability to ingest verified and encrypted data directly from IoT devices.
Background
The HBAR Foundation was founded in 2021. It has hardly been a year, and yet the foundation has come out as a pioneer in the development of the Hedera ecosystem.
The HBAR Foundation provides grants and many other types of resources to the community of developers, organizations, and start-ups. The members are those who constantly seek funds to launch their products in the category of DeFi, NFT, gaming, ESG, and CBDCs, among many others.
Additionally, the HBAR Foundation acts as a force multiplier by offering support across various domains like marketing, technical, business development, and operations.
TYMLEZ x Hedera
Through the partnership with Hedera, supported by the HBAR Foundation, TYMLEZ will invest all its focus in supporting clean energy and sustainability initiatives. TYMLEZ will also look for other opportunities to develop secure, trackable, and traceable products on the Hedera network.
It is a significant milestone for TYMLEZ to receive a grant from the HBAR Foundation. However, TYMLEZ has been on its way to developing a blockchain platform for itself. Called TBSP, short for TYMLEZ Blockchain Solution Platform, was the project that was handled prior to this newly evolved partnership.
TYMLEZ Blockchain Solution Platform came to an unfortunate conclusion after it met with several drawbacks, making it difficult to get new customers to sign up on the platform. The drawbacks faced by the TYMLEZ Blockchain Solution Platform were the ongoing development in the industry and the rising need for a public consensus layer.
The new partnership with Hedera brings many things to the table for TYMLEZ. It did review other options, including Solana and Hyperledger but ultimately opted to go with Hedera due to its ability to process several transactions every second.
Hedera’s focus on the use of low energy also acted as a key factor that was considered by TYMLEZ.
Daniel O Halloran, the Chief Executive Officer of TYMLEZ, stated that the team was honored to receive the grant from the HBAR Foundation. He assured that the commitment of the team was to deliver a secure and trusted ecosystem to its clients.
Dan Voyce, the Chief Technical Officer of TYMLEZ, called the transition from EVM-based solutions to Hedera a very important step in the life of TYMLEZ. He said that the transition signified the offering of a business that neither wanted to be involved in securing the network nor handling Cryptocurrency to participate in the digital ecosystem.
Rob Allen, the Senior Vice President of the HBAR Foundation, emphasizes that the aim of TYMLEZ was to be the pre-eminent partner of Hedera in Australia. He added that the plan of TYMLEZ was to implement a full ESG compliance reporting platform.