Welcome back guys to The Cryptographer’s lair here on Steemit. We’re about to decipher another brand new blockchain project.
In Brief (the section for those too lazy, or busy, to read on)
The business-to business (B2B) market is getting stripped of enormous financial resources daily as business partners face an uphill battle in data exchange; there is a clear need for overhauling of the old data transfer market system.
In this highly competitive business world, everyone is fast demanding a more efficient B2B data and communication transfer solution. LOYAKK was created by many creative minds in 2017 to fill this gap, and to facilitate the bringing in of a brand new approach to deliver the most value possible in the new decentralised economy. Loyakk has become the first blockchain-enabled platform dedicated to bringing about such a decentralised ecosystem, and is focused on solving many global problems involved in data exchange such as leakage and attack. Loyakk’s pursuing of their innovative vision has led to many partnerships across the globe in their start to build a more transparent, effective platform for data exchange.
What are the specific problems Loyakk are looking to tackle?
The centralized and fragmented B2B market system poses as a massive challenge for businesses in this ultra-competitive business world. The financial success of any business relies heavily on its ability to collaborate with other such market players in an effective and beneficial manner. However, the current centralised B2B market brings with it many inherent problems relating to security, efficiency and trust.
Businesses routinely have to worry about data leakage, other partners not keeping to a business contract, disagreements occurring- and that’s just the start. This has resulted in a skyrocketing costs for effective B2B activities and resulting revenue loss amounting to billions of dollars. Loyakk have therefore identified the dire need for an innovative solution to transform the B2B environment using cutting-edge technology.
(From the Loyakk Business Overview white paper: https://loyakk.io/wp-content/uploads/2018/07/Loyakk-Vega-Business-Overview-O244.pdf)
How does Loyakk intend to use blockchain to solve these issues?
Through their innovative use of layers of cutting-edge technologies, Loyakk not only makes data sharing easy and transparent, but makes the whole B2B environment more secure, efficient and most importantly more effective.
Loyakk’s solution is based on providing a secured decentralized market system deeply rooted in patent-pending blockchain-based technology; blockchain will provide the base layer for the new decentralised B2B ecosystem. The platform essentially gives access for permissioned members to relevant information after different verification processes have been satisfied- all powered by blockchain and Loyakk’s LYK token.
The question of what Loyakk’s native token does, as well as the benefits from using it, is linked to its inherent use on the blockchain. The Loyakk token is a step taken to achieve protection for platform users, as well as keep a good tracking record of data among business partners- a huge step towards sustaining transparency and confidence across business borders with data permission and distribution control. With the use of the Loyakk token, platform users are sure of secure, efficient and streamlined data exchange within the business network.
(From the Loyakk website: https://loyakk.io)
Meet the Team
Working hard to make the Loyakk project excel are great personalities with vast experience in different relevant fields, ranging from marketing to technology and engineering- all pooling their expertise to ensure that the world is provided with Loyakk’s innovative solution in B2B cooperation. Salim Ali, the CEO and co-founder, provides expert leadership and insight. The team’s blockchain technical architect, Jimees Abraham, puts his in-depth knowledge of blockchain into practice. Experts such as Suresh Ramakrishnan, Marzanne Deloof, Rakesh Sreekumar, Sadiq Quasim also provide profound visionary insight.
Anthony Thomas and three other personalities serve as an advisory team in addition to Ian Scarfe and other crew members as blockchain advisors. The Loyakk team is certainly well versed and well supported by relevant experienced personalities in their endeavours!
The Cryptographer's verdict
I am of the opinion that Loyakk is the beginning of something great; their platform, built using a base layer of cutting-edge blockchain technology powered by their native LYK token, promises to reimagine and revolutionise the way different companies across the globe communicate and interact with their business partners. The innovation offered by Loyakk to foster a secured connection in data exchange between distributing agents, channels, business partners and others is commendable. Furthermore, an analysis of the project roadmap shows a confident yet realistic team, committed to turning their dreams of an effective B2B ecosystem into reality. Loyakk is showing a lot of promise!
Read more about the Loyakk project at their website: https://loyakk.io and if you have any questions the best place to ask is their Telegram group: https://t.me/loyakk
Whitepapers: https://loyakk.io/#white-paper
My Bitcointalk.org Profile (H4hire): https://bitcointalk.org/index.php?action=profile;u=2258977
Happy hunting!
PLEASE NOTE THIS IS NOT FINANCIAL ADVICE. YOU MUST ALWAYS DO YOUR OWN RESEARCH AS WELL AS READING OTHERS’ OPINIONS, ESPECIALLY IN THIS SPACE.