Problems regarding enterprise adoption of blockchain in business, how AERGO addresses it
Today, block technology trends and has disrupted business models in various industries. This is because it possesses the key for the successful running of a business. It achieves this using peer-to-peer (P2P) network of distributed computers. Despite various evolution of blockchain technology, it has continued to face certain challenges, which includes:
- Difficulties with enterprise IT integration; this has led to complex operations and workflows. Industries have the tendency of using a diverse range of technologies and processes.
- Lack of reliability and total control of IT infrastructure causing frequent hard forks and hence vulnerability of IT networks.
- Lack of proper security and privacy issues; this creates a need to have an encryption and decryption layer at the application level. Enterprise block chain implementations often need to create a robust, holistic approach for securing data.
- Lack of developer friendly and easy- to- use software tools; there is a need to have an enterprise block chain that would be easy to understand and program; since block chain technology often introduce new programming frameworks and languages.
- Scalability Problems: There is a need for large businesses to have IT systems that can automatically deal with more demand, which could come gradually or suddenly from the service user.
- Enterprise grade capabilities that are critical to run real business applications in both private and public deployments.
However, on how AERGO addresses these challenges, it is worthy to note that AERGO is a project set up to correct these challenges setting the pace as a blockchain protocol combined with an IT platform. It uses new and advanced technologies; designed for developers, businesses, and IT suppliers and any other key third parties.
AERGO promises a feature-rich, open, multi-paradigm and consistent plugin-based easy to use platform, one, which would enable and promote cooperation amongst the many stakeholders. To support these, the platform would include a middleware and a normalization layer that serves to connect IT software to the new world and users.
AERGO proposes to use state-of-the-art technology; designed as either a private, public, combined public plus private block chain. It hopes to bridge the gap between public and private networks. It intends to combine the practicality and innovation of public block chains with the performance and security provided by private block chains.
Summary Architecture
- AERGO intends to build upon Blocko’s existing COINSTACK platform, which is a fully supported enterprise product, one which is been adopted by many of its existing clients.
- AERGO also intends to support open source developers who wish to use, develop, incubate, and extend core features and projects within the AERGO technology stack.
- AERGO intends to be a public internet of block chains; which contains AERGOSQL; a new smart contract engine that would create advanced smart contracts to enable innovative business products and services.
- It intends to be the public interface into the underlying AERGO Chain. AERGO Hub would work and connect secure dApps with AERGO chain. The dApps would be stored in either AERGO Public Repository or AERGO Private Repository. These dApps in turn need to be deployed then used as AERGO Chain.
- AERGO intends to be a market place for software applications, computing resources and other services.
- AERGO Token is used to run the smart contract, payment method for AERGO Hub services and payment method for AERGO domain,
- A total of 500m AERGO Tokens will be issued, 30% allocated to proportion of tokens for sale, 30% to AERGO community incentives and strategic partners, 25% reserved by token issuer, 10% advisors and key backers and 5% to employees of token issuer and affiliates.
- The funds generated from the tokens would be for the development and advancement of technology programs and partner ecosystem development of AERGO. R&D allocated 40 %, Ecosystem incubation be allocated 30%, marketing allocated 15%, Strategic alliances and business development allocated 10% and miscellaneous 5%.
Execution Plan
To kick-start the project, AERGO intends to leverage the following components from Blocko:
• Blocko’s Coinstack and Blocko Know-How Contribution:
These contributions are to include:
- Coinstack as a Key Initial Foundational Element of the AERGO Protocol.
- Proven Enterprise Deployment Models.
- Blocko’s Existing and future Enterprise Customers.
- Blocko to market and directly support AERGO based implementations.
- Blocko as a Strategic Technology partner for the AERGO.
- Blocko’s Existing Infrastructure and Block chain Partners.
- Other supporting Third-party Ecosystem Activities.
In summary, the AERGO project promises to provide:
- An advanced but yet, a friendly, easy-to-use daps building platform for developers and enterprises.
- A secure and fast public, private, a combination of private, and public block chain cloud architecture for businesses.
- An open ecosystem for third parties and businesses to connect and engage users.
The AERGO Team and Advisory Panel would demand a combination of an array of disciplines involving block chain technology, cloud computing and open source know how. They include:
AERGO Board:
Phil Zamani: With experience in VP Sales, Biz Dev. Internet, global head in Big Data & Cloud Biz Models.
Hun Young Park: Expertise in Machine Learning solution development. With experiences in Relational DBMS and distributed solutions.
Roderik van der Graaf: Founder of Lemniscap, an investment, and advisory firm in the block chain space. With experience in PE/VC and equity derivatives trading.
Committee heads:
Von Kilm (Technology Committee Head): with experience in Relational DMBS, research & development.
Jane Lee (Finance Committee Head): with experience in strategy consulting, digital transformation & technology commercialization.
Alison- Shim (Ecosystem Committee Head): with experience in Strategy Consulting, go-to-go market and business development.
Technology Team:
Yun Woo Park
Sung Jae Woo
Pierre-Alain Ouvrard and 27 others
Business Team:
Mason Park
Han Kilm
Seona Kilm
AERGO Advisors:
Eddie Alleyn: A technology entrepreneur with expertise in security and secure communications.
Djamel Souici: A legal expert on open source technology, licensing, and business models.
Vincent Zhou: Founding partner of FBG with experience in digital assets trading and investment.
For more information on Aergo, please visit the following useful links:
Website: https://www.aergo.io/
Whitepaper: https://paper.aergo.io/AERGO_Whitepaper_v5.2.pdf
Github: https://github.com/aergoio
Telegram: https://t.me/aergoofficial
LinkedIn: https://www.linkedin.com/company/teamaergo/
Twitter: https://twitter.com/AERGO_IO?lang=en
Medium: https://medium.com/aergo