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What news is featuring Quant Network (QNT)?
Below we will see recent important partnerships, including the collaboration with BIS and the Bank of England for the Rosalind Project.
Finally, a focus on its latest price performance and some future forecasts.
Quant Network is part of the team for the Rosalind Project
Recently, the Quant Network company launched its own platform called Overledger, which is used in the Bank of England’s CBDC project and the Bank for International Settlements’ Rosalind Project.
The Rosalind project, coordinated by the BIS Innovation Hub London Centre, tested how APIs could facilitate retail payments in CBDCs and support the exploration of innovative use cases for CBDCs.
Specifically, the project examined a public-private collaboration model, in which the public sector would provide the core infrastructure and the private sector would develop consumer-facing applications.
Working with a number of ecosystem players, the project demonstrated that APIs can play a key role in enabling CBDC systems to deliver a range of benefits in terms of payment functionality and security.
Another significant achievement was innovation through the exploration of use cases, an innovation with global reach, testing how CBDCs could support a more digitized economy in the future.
In fact, Quant Network’s official website states the following about it:
“We have contributed to the design and development work of API features to support innovation and enable programmability in the private sector. We worked with our partners UST, a leading digital transformation firm, on the project, with the Quant team providing the underlying infrastructure and blockchain platform, secure smart contracts and central bank ledger interoperability, while UST created Rosalind API level for user interface.”
Gilbert Verdian, founder and CEO, also said:
“For the first time, money is ready for the digital age. A CBDC will enable citizens and businesses to automate payments and cumbersome processes and implement money logic.”
Some predictions regarding the price of QNT
According to the latest data, QNT‘s price forecast suggests a positive return of buyers in the near future. However, despite buyers’ optimism, it is important to consider historical price action, which could affect the duration of that optimism.
Indeed, for QNT’s price to recover its previous value, a breakout with strong positive momentum will be required. In any case, bullish people show keen interest in the Quant token according to candlestick patterns.
However, it is important to keep in mind that the QNT token has faced significant resistance in historical price action, with buyers making continuous unsuccessful attempts to break through that resistance.
In the QNT/BTC pair, on the other hand, price recently broke through a crucial resistance level on the daily chart after being rejected by the 200-period exponential moving average (200 EMA).
The price action of the QNT/BTC pair thus indicates the possibility of a decline in value in the near future. However, the RSI and stochastic oscillators have reached the demand zone, with the stochastic RSI showing a double bottom pattern.
In conclusion, the oscillators indicate that the Quant token may currently be undervalued, which could spark buyers’ interest in the token.