My Introduction to COVA
The cryptocurrency industry seems to have been taken over by betting companies, bitcoin maximalists, trading bots and cashback schemes. So it always quite refreshing when you find out about a new blockchain project that is relatively unknown and has incredible potential. This is how I felt when I first found out about COVA. I have known about the COVA project for quite some time, it first came to my attention last year when a friend sent me a link to their Github page that contained their whitepaper and other documents. I can tell you it has been a real pleasure watching them grow over the last 6 months. COVA has come a long way, they have released a testnet, updated their website, updated their whitepaper, updated their roadmap, signed strategic partnerships with several blockchain projects, listed their token on two great exchanges and even started their own blog page.
Partnerships & Advisors
I have always found in business the most successful companies are usually the most open. Transparency is essential and being able to trust others and work closely with other businesses can help a project grow. If you take a look at the COVA team on the website, they have some extremely talented members. They have worked with some excellent companies and their educational achievements are mightily impressive. However, it is difficult to do things alone and sometimes another person's perspective and expertise can help turn a good project into a great project.
COVA has some brilliant advisors on the board that provide support in their respective fields. There are two academic advisors, Professor Stratos Idreos & Professor Elie Ofek that both lecture at Harvard University. Strator is a professor in Computer Science and Elie is a professor in Marketing. Both subjects are intrinsically linked to COVA's idea and vision of a decentralized internet protocol and network, I'm positive they have both had a major impact on the COVA team and have helped the project develop.
The COVA advisory board also has two business advisors, Shuoji Zhou and Jia Tian. These two guys are huge names in the fintech world. Jia is a well-known investor, he invested in Bitfinex exchange and has helped consult FBG Capital and ZCash, he is also a Limited Partner at Bitfund. Shouji is the founder of FBG Capital where Jia consults, FBG Capital is a huge VC that specialises in investing and advising blockchain projects and managing digital assets. They both have a lot of pedigree and have worked together on a number of projects so they already have a good understanding of each other and can provide a lot of support to the COVA team. FBG Capital also invested in COVA so they obviously believe in the project and the fact their founder is an advisor shows they have some serious backing.
As well as advisors, COVA has a lot of strategic partnerships in place with some big blockchain projects. On December 5th 2018 they announced a partnership with Korean company Terra. Terra is a stable cryptocurrency that is signed with Asia's largest E-Commerce companies. Terra's clients and contacts have over 40 million customers and over $25 billion in annual transaction volume. They will work together to provide data security and secure payment options to businesses all over Asia. The partnership offers COVA a step into one of the biggest markets in the world and it will give them a real opportunity to get their technology recognised and utilised.
Bitmax is a new cryptocurrency exchange that has stormed to the top end of the rankings in terms of trading volume. The platform has surpassed the $500m 24-hour trading volume mark and they have listed some of the best cryptocurrency projects. COVA signed a strategic partnership with Bitmax in December last year and they listed on their exchange on 21st December 2018. COVA token also listed on Huobi as well as Bitmax. Huobi is the 5th largest exchange according to Coinmarketcap and they also invested in COVA during the private crowdfunding stage. It took a while for COVA to get listed and I know a lot of investors were worried about this but WOW it was definitely worth the wait as they secured listings on two terrific exchanges with lots of volume and impeccable reputations.
COVA isn't afraid to reach out and connect with other projects and I think this is a major reason why they will succeed. I know I haven't gone into detail on COVA's technicals but I do not think I could do it justice. There are some great resources online to learn more about their technology. I will share the links below.
Guide to Testnet: https://docs.covalent.ai/quick-start/
COVA Documentation: https://docs.covalent.ai/
Github Repository: https://github.com/covalent-hq