Jiritsu Launches Jiritsu L1 with Everready Group, Verifying Over $20M in Inventory Daily and 100,000+ SKUs
Jiritsu Network Launches Jiritsu L1 with Everready Group, Verifying Over $20M in Inventory Daily and 100,000+ SKUs
Dover, Delaware, April 26, 2024 (GLOBE NEWSWIRE) — The Jiritsu Network, a trailblazer in verifiable computing, has unveiled the Jiritsu Layer 1, utilizing Avalanche’s Subnet technology stack. With the power of Zero-Knowledge Multi-Party Computation (ZK MPC), Jiritsu is set to revolutionize how real-world assets are reflected, verified, transacted, and leveraged on-chain. By overcoming challenges related to EVM computational limitations, off-chain data ingestion, and workflow automation, Jiritsu is paving the way for a new era of asset management.
The launch of Jiritsu Layer 1 comes in partnership with Everready Group, a prominent retailer specializing in medical supplies, retail items, and home goods in the wholesale and e-commerce sectors. Everready, a key player in Amazon’s Fulfillment by Amazon program, will be utilizing Jiritsu’s “Proof of Inventory” product to verify over $20M in daily inventory, with monthly transactions exceeding $15M and a vast array of over 100,000 SKUs.
Michael Perl, CEO of Everready, expressed his excitement about the collaboration, stating, “Adopting Jiritsu Proof signifies a monumental leap forward for Everready and the broader e-commerce industry. This cutting-edge technology allows us to verify and secure our daily inventory, showcasing our commitment to transparency and trust in every transaction.”
The ZK MPC technology at the core of Jiritsu’s Layer 1 network ensures the secure verification and authentication of vital off-chain asset information, enhancing asset tokenization and strengthening various on-chain use cases in supply chain, logistics, banking, and more. This breakthrough has the potential to streamline traditional asset transactions while bolstering privacy, security, and trust.
Morgan Kruptesky, Senior Director of Business Development for Institutions & Capital Markets at Ava Labs, commended the collaboration, stating, “Ava Labs is proud to continue pushing the boundaries of asset tokenization through innovative projects with partners like Jiritsu. The launch of Jiritsu on Avalanche underscores the network’s leading position in this emerging field, offering enhanced security, authentication, and efficiency in managing real-world assets on-chain.”
The launch of Jiritsu Layer 1 not only promises to reshape the tokenization landscape but also signifies a significant advancement in on-chain asset management. By enabling the verification of traditionally hard-to-verify assets on-chain, Jiritsu is poised to revolutionize digital asset transactions and open up new investment opportunities across various sectors.
With its expanded capabilities and Avalanche-powered foundation, Jiritsu is well-positioned to support ambitious real-world asset projects. For more information, visit Jiritsu at jiritsu.network.
About Jiritsu Network:
Jiritsu Network is a pioneer in blockchain technology, focusing on the tokenization and verification of real-world assets through ZK MPC technology. The launch of Jiritsu Layer 1 represents a major step forward in making digital asset management more accessible, efficient, and secure.
About Everready:
Everready is a leading player in the e-commerce industry, offering innovative solutions that enhance the online shopping experience. As an Amazon FBA partner, Everready has revolutionized inventory management, ensuring product availability and swift delivery. With a focus on transparency and reliability, Everready continues to exceed customer expectations in the e-commerce sector.
About Avalanche:
Avalanche is a smart contracts platform that scales infinitely and finalizes transactions in less than one second. Its unique consensus protocol, Subnet infrastructure, and HyperSDK toolkit empower Web3 developers to launch custom blockchain solutions easily. Build anything you want on the eco-friendly blockchain designed for Web3 developers.
For press inquiries, contact:
Ava Labs: press@avalabs.org
PR Contact Email: Jiritsu@winn.solutions
For more information on Everready and Jiritsu Proof:
Everready Website
Contact:
Jarred Winn
Winn.solutions
4157475999
jiritsu@winn.solutions
jacob@jiritsu.network
kaitlin.starcher@avalabs.org.
