PiLab recognized for Emerging Technologies in Banking, 2023

PRNewswireAugust 9, 20233 min

PiLab Technology, a leading South Korean startup specializing in blockchain services, has been listed as a Sample Vendor in the Gartner® “Hype Cycle™ for Emerging Technologies in Banking, 2023” report in the Decentralized Finance (DeFi) category. We believe PiLab is recognized for improving interoperability in the DeFi ecosystem notably by running its cross-chain lending protocol BiFi, backed by its very own mainnet, the Bifrost Network, an EVM-compatible Layer 1 blockchain.

“We are thrilled to have been included in the report as we believe it demonstrates our contribution to the DeFi ecosystem, which has much potential as banking inevitably touches upon everyone’s lives. With blockchain usage still in its early stages and its benefits restricted to a niche group, our goal is to render blockchain technology more useful and beneficial to wider audiences by continuing to focus on enhancing interoperability and usability,” says Dohyun Pak, the founder of PiLab.

Gartner, Hype Cycle for Emerging Technologies in Banking, 2023, Alistair Newton, Christophe Uzureau, 20 July 2023

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Gartner does not endorse any vendor, product or service depicted in its research publications and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner’s research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.

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