Parsiq: Bridging Web 2 and Web 3 with Blockchain Data

The internet has made life easy for millions of people all over the world by democratizing information, ideas and knowledge, based solely on the criteria that one needed access to an internet connection and have a hardware electronic device to do so. If these two conditions were met, it was a whole new world that awaited the person on the screen. New people, new information, new connections, it was a game changer. 

Fast cut to 2021, and we’re used to the ubiquitous presence of the internet in our lives. We use it for e-commerce, personal messaging, professional networking, video calls and a ton of other applications and use cases. Supporting all that lies the free protocols built by internet communities of the days gone by – HTTP, SMTP, TCP/IP – atop which applications like Google, Apple, Facebook and Amazon to name a few big ones, collect the most data about their users and act as ‘gatekeepers’ to products and services made all over the world. 

The premise of Web 3 lies in true ownership and transacting value from one person to another without needing to depend on a third-party institution. To enable this, venture capitalists and entrepreneurs are building the ventures we need to make the Web 3 world a reality. We’re slowly transitioning from Web 2 to Web 3 today, and therefore, today’s start-up, Parsiq is especially built to bridge this gap. Below are the excerpts from our interaction with CEO, Tom Tirman.

What is the crypto venture about? Give us a brief description of it.

PARSIQ is a middleware blockchain data and automation platform for building Smart Triggers – blockchain to off-chain connectors that execute upon conditional logic based on specific events happening on the blockchain.

In more technical terms, PARSIQ is a push-based data-stream aggregator that adds a programmability level on top of real time blockchain and off-chain data-streams and delivers them to off-chain apps and devices to trigger reactions. An apt comparison could be Zapier + Splunk, but for blockchains.

What real life problem does it solve? Is it a problem worth solving using blockchain?

The first problem was blockchain data, which, while mostly public, was not easy to consume, understand, and make actionable.

The second was connectivity between decentralized networks and centralized systems — mass adoption won’t come anytime soon, unless we have infrastructure to connect the isolated blockchains to centralized apps, web services, and legacy systems that most of the world uses.

PARSIQ was created to solve these problems for both crypto-native builders and projects as well as traditional businesses who are starting to utilize blockchain technologies.

Who are your competitors and how are you different from them?

Mostly there are only indirect competitors, who deal either strictly with data or analytics. PARSIQ offers full-fledged infrastructure solutions where any blockchain-related user, including those data and analytics companies can connect to blockchains in real time at scale.

What is the vision behind the venture?

PARSIQ aims to become the go-to enabler of widespread adoption of blockchain technologies, by giving everyone the ability to understand and manipulate blockchain data streams across different mediums and infrastructures.

The mission is to develop complete ecosystems of technologies that coordinate developments of trustless data exchange protocols, to enable better harnessing and utilization of blockchain data in both crypto and mainstream business uses. We shall act as the fundamental bridge between and within WEB2 and WEB3, by providing data processing, interoperability, and automation while reducing costs and complexities.

Tell us about the team.

PARSIQ team is over 40 people full time. The people behind PARSIQ are experienced and highly qualified industry professionals that are passionate about blockchain technology. Comprised of mostly engineers that have built blockchain systems for projects like Civic, Bitfury and Deloitte. Team’s ultimate goal is to push forward the mass adoption of blockchain technology by providing the necessary solutions. We want to give everyone the ability to understand and manipulate blockchain data streams.

How did you come up with the idea? What motivated you to do this?

As experts in blockchain engineering, each time we faced the same issue – we had to build something to connect blockchain activity to centralized applications, devices, user-facing front-ends, legacy systems, and other off-chain networks.

So that’s when the decision was made to build a platform available for everyone to bridge the gap between blockchains and real-world apps like Google Sheets, Telegram, Discord, Salesforce, and so on. This niche was completely untapped.

What are the future plans? What’s the roadmap?

Currently PARSIQ works one way. Triggering actions from blockchains to off-chain. We aim to become a full-suite solution that can connect in any direction. PARSIQ technology will be able to automate workflows from off-chain to blockchain (effectively automating payments) as well as cross-chain (blockchain to another blockchain). The goal is to become the standard for blockchain data infrastructure in the space.

Total circulating supply of the coin/token?

Circulating supply: 128,633,482 PRQ

Website or app URL

https://parsiq.net/