Jiritsu Revolutionizes Blockchain Asset Management with Verifiable Computing

Jiritsu Network, known for its advancements in verifiable computing, unveils its inaugural Jiritsu Layer 1 on Avalanche's Subnet technology stack. Leveraging Zero-Knowledge Multi-Party Computation (ZK MPC), Jiritsu aims to revolutionize the representation, verification, transaction, and utilization of complex real-world assets (RWAs) on-chain.

Jiritsu Layer 1: Revolutionizing On-Chain Asset Management with Verifiable Computing

Introduction

The Jiritsu Network, a pioneer in verifiable computing, has unveiled Jiritsu Layer 1, a groundbreaking platform built on Avalanche's Subnet technology. Leveraging Zero-Knowledge Multi-Party Computation (ZK MPC), Jiritsu endeavors to transform the representation, verification, transaction, and utilization of intricate real-world assets (RWAs) on-chain.

Addressing Computational Challenges

Jiritsu has made significant strides in overcoming key obstacles in ZK MPC innovation, particularly regarding EVM computational limitations, off-chain data integration, and workflow automation triggered by off-chain events. These advancements enable the network to handle the complexities of representing and verifying RWAs, opening up a wide array of on-chain applications.

Collaboration with Everready Group

Jiritsu's Layer 1 launch is accompanied by a strategic partnership with Everready Group, a leading player in medical supplies, retail, and e-commerce. Everready has embraced Jiritsu's "Proof of Inventory" solution to authenticate its inventory, verifying over $20M daily and processing over $15M in monthly transactions, encompassing more than 100,000 SKUs.

This partnership showcases Everready's commitment to precision and reliability in supply chain management, while also marking the company's initial adoption of Jiritsu's technology.

Benefits of ZK MPC Technology

ZK MPC, the cornerstone of Jiritsu's Layer 1 network, ensures the secure verification and authentication of crucial off-chain asset data, which often lacks standardization and transparency. This enables accurate on-chain representation, leading to more robust asset tokenization and fostering various on-chain applications in supply chain, logistics, banking, capital markets, and beyond.

By eliminating the need for manual processes, Jiritsu's capabilities have the potential to reduce friction, costs, and time associated with traditional asset processes, while enhancing privacy, security, and trust.

Collaboration with Avalanche

Morgan Kruptesky, Senior Director of Business Development for Institutions & Capital Markets at Ava Labs, hailed the collaboration, emphasizing Ava Labs' commitment to pushing boundaries in asset tokenization through partnerships with innovators like Jiritsu. The launch of Jiritsu on Avalanche underscores the network's leadership in this rapidly evolving domain, providing expanded opportunities for security, authentication, and efficiency in managing real-world assets on-chain.

"The combination of Jiritsu's Layer 1 and Avalanche's scalability and security offers a compelling solution for institutions and enterprises looking to tokenize and transact RWAs," Kruptesky said.

Transforming On-Chain Asset Management

The introduction of Jiritsu Layer 1 not only promises to revolutionize the tokenization landscape but also signifies a leap forward in on-chain asset management. By enabling on-chain verification of historically challenging-to-verify assets, Jiritsu aims to reshape digital asset transactions, unlocking fresh investment opportunities and ownership prospects across diverse sectors.

"The ability to tokenize and verify RWAs on-chain opens up a world of possibilities for industries such as supply chain, real estate, and private equity," said Bill Gattrell, CEO of Jiritsu. "Jiritsu Layer 1, powered by Avalanche, will empower businesses to innovate, streamline operations, and create new products and services."

With enhanced capabilities and a foundation powered by Avalanche, Jiritsu is poised to support a new wave of ambitious RWA projects, driving the adoption of blockchain technology for asset management and unlocking the full potential of tokenized assets.