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Hydro Labs, formerly Project Hydro, (HYDRO) is a community-driven blockchain project incubated by award-winning fintech designer, Hydrogen Platform, whose global community is dedicated to making widespread crypto adoption a reality.
Hydro Labs is armed with a set of smart contracts built on top of Ethereum, which include protocols for security, identity, document signing, peer-to-peer capabilities, tokenization and artificial intelligence. This sets up Hydro as an all in one solution for businesses, providing a variety of tools to execute contracts in a trustless, secure, and decentralized manner. In addition, the entire ecosystem is interoperable, meaning that information can be securely exchanged between peers, businesses and third-party developers without jeopardizing any data.
At the beginning of 2019, Project Hydro was handed over to the decentralized community, initially known as decentralized ambassadors, who then branched off and registered as Hydro Labs - an entity incorporated in the Cayman Islands. Being a non-funded project (no ICO + no VC funding) Hydro Labs has been hindered for the past year in its marketing and exchange listing efforts. Recently, however, Hydro Labs has entered into a service agreement with Hydrogen to further develop Hydro technology with 500 million Hydro tokens.
The Hydro blockchain is robust and interoperable, making it possible for existing and new systems to easily implement it as a blockchain layer. Hydro's digital identity aggregator, known as Snowflake, is facilitated by an ethereum identity standard known as ERC-1484. This standard serves as the backbone of the ecosystem and is the main engine for identifying each user. The Snowflake protocol provides interoperability within any system (private or public) making it simpler for KYC/AML on-boarding. This is only one use case and the possibilities are endless, from e-commerce to payment services, healthcare, banking, and governance - essentially anything that requires identity management.
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