Lition is a scalable side-chain built on Ethereum for enterprise use, launched into mainnet October 2020. Lition’s technology framework was founded on the principle of allowing data to be both private and deletable. These two core features were developed to meet with the strict General Data Protection Regulation (GDPR) guidelines laid out by the European Union in order to give citizens control over the use of their personal data.
On Otc 28, 2020, Singapore-based TomoChain Pte. Ltd., developer of the TomoChain public blockchain, has acquired the enterprise blockchain unit of Lition. The unit, incorporated as Liechtenstein-based Lition Technology AG, has developed a scalable public-private blockchain specifically for enterprises, with features such as data privacy, regulatory compliance, and scalability. The acquisition includes all blockchain-related assets, such as technology, human resources, treasury, and digital properties. It excludes the energy business of Lition, incorporated as Lition Energie GmbH, which will remain independent but will keep using the blockchain infrastructure for its peer-to-peer trading solution for its electricity customers in Germany.