LOYAKK - Powering Enterprises through the Blockchain

in #blockchain6 years ago (edited)

One of the greatest incentives behind the ongoing research and development in Blockchain technologies and distributed ledger protocols has always been their widely recognized potential to disrupt traditional industries. Enterprises, be they finance or manufacturing or insurance or health have always been on the lookout for authentic, transparent and secure systems to drive their processes which, in turn, translates into a multi-billion dollar opportunity. Tapping into this massive potential is LOYAKK, an enterprise-centric platform proposed on the Ethereum blockchain that will facilitate secure and authentic sharing of data & value across major business networks.

/business-3152586_640.jpg

Picture courtesy - rawpixel, Pixabay

It has been proven beyond doubt that collaboration and information sharing is critical to the success of businesses across diverse domains. LOYAKK is extending this principle further by giving impetus on the security and privacy of information being shared. Why is this relevant? Think of the Equifax data breach of 2017 that ultimately resulted in the loss of around 250$ million. Data being interacted upon or exchanged require secure channels for transmission with absolute auditability and immutability. While the Ethereum blockchain provides the ground for establishing the latter two, LOYAKK will make use of her past expertise to thrive in this segment, having previously built tailor-made, world-class and highly sophisticated platforms for her clients such as SAP, NOVARTIS, ABBOTT LABS, INFOSYS etc.

"Loyakk transforms how companies collaborate & share data with partners, distributors, channel and vendors across the world – through private blockchain."

Loyakk is essentially building an Enterprise Relationship Platform is called LOYAKK VEGA that will connect various business providers and enable seamless exchange of data, business contexts between them. This highly sensitive information including business deals, sales, analytics, intelligence etc. will be secured by sophisticated, patent pending technologies. Further, the LOYAKK VEGA platform will leverage smart contracts to automate processes between the entities thus ensuring a truly decentralized/intermediary fee ecosystem.

MLy7QuQy_400x400.jpg

Loyakk Vega Enterprise Relationship Application will consist of a Partner Management Module to facilitate sharing of critical deal, market and sales data. To complement this the platform also hosts a Channel Acceleration Module, Vendor Management Module, Customer Engagement Module and a Distribution Management Module to ease the communication gap, facilitate smooth onboarding and simplify procedures for the various stake stakeholders operating within the system. The transacted data will encompass published content, conversations, and analytics. All of these would contribute to the success and prosperity of the partner networks in the ecosystem.

Loyakk Vega also introduces a native ERC-20 based token known as the Loyakk Data Token or LYK which will serve as the primary carrier of information within the Loyakk network. The Loyakk Data Token while it provides the means for permissioned access to the network, also covers the critical auditability aspect within the network, with its every transaction being subject to audit through a permissioned block explorer.

Loyakk-After.png

"The LYK token is a Data Container and Protector, and it tracks critical business data as it moves across company boundaries​."

These tokens are up for sale through an ICO that is expected to conclude on the 22nd of July. The Loyakk team is a ​top-class team based in the UK led by their CEO Salim Ali who formerly served as the Global Vice President at SAP. They have received strategic funding from notable VC firms such as the​ San Francisco-based Ai8 Ventures. To learn more about Loyakk visit the Website

Join the Telegram Group
Read the White Paper
My BitcoinTalk Profile

Disclaimer: I am not a financial advisor. This post is not intended as an investment advice

Sort:  

Congratulations @magpielover! You have completed the following achievement on Steemit and have been rewarded with new badge(s) :

Award for the number of upvotes received

Click on the badge to view your Board of Honor.
If you no longer want to receive notifications, reply to this comment with the word STOP

To support your work, I also upvoted your post!

Do not miss the last post from @steemitboard:
SteemitBoard World Cup Contest - France vs Belgium


Participate in the SteemitBoard World Cup Contest!
Collect World Cup badges and win free SBD
Support the Gold Sponsors of the contest: @good-karma and @lukestokes


Do you like SteemitBoard's project? Then Vote for its witness and get one more award!

Ok thanks information about it

Cheers! Thanks for reading.

As a follower of @followforupvotes this post has been randomly selected and upvoted! Enjoy your upvote and have a great day!

You got a 2.74% upvote from @upme thanks to @magpielover! Send at least 3 SBD or 3 STEEM to get upvote for next round. Delegate STEEM POWER and start earning 100% daily payouts ( no commission ).

hi, @magpielover
I really like your writing...
Pls Follow @important-to-us

Congratulations! This post has been upvoted from the communal account, @minnowsupport, by magpie_lover from the Minnow Support Project. It's a witness project run by aggroed, ausbitbank, teamsteem, theprophet0, someguy123, neoxian, followbtcnews, and netuoso. The goal is to help Steemit grow by supporting Minnows. Please find us at the Peace, Abundance, and Liberty Network (PALnet) Discord Channel. It's a completely public and open space to all members of the Steemit community who voluntarily choose to be there.

If you would like to delegate to the Minnow Support Project you can do so by clicking on the following links: 50SP, 100SP, 250SP, 500SP, 1000SP, 5000SP.
Be sure to leave at least 50SP undelegated on your account.

Great information

Thanks for reading!

@ magpielover, I gave you an upvote on your post! Please give me a follow and I will give you a follow in return and possible future votes!