Loyakk- Revolutionising Enterprise Relationships: Motivation, Mission, Method

in #loyakk3 years ago (edited)

Loyakk Spotlight Series.jpg

As blockchain technology continues to send shockwaves of innovation across the globe, industries far and wide are slowly but surely embracing its power of progressive disruption. Security, transparency and enhanced functionality are the hallmarks of the movement currently reshaping industry mechanics and, in the case of Loyakk, even revolutionising business relationships altogether.

Loyakk is enacting a grand vision with the creation of their next-generation business relationship management platform, systematically built from the ground up and utilising patent-pending blockchain technology to enable B2B possibilities like never before. Loyakk’s innovative solution promises to not only make crucial routine business operations and communication more secure, efficient and functional than ever, but also stands to revolutionise the way in which businesses interact and network with one another.

How? We’re about to dive in to find out.

This is the first in a series of Spartan Spotlight articles exploring the Loyakk project, unpacking and analysing each element of the grand concept. In this introductory article, we will set the scene with an overview of Loyakk’s motivation, mission and method.

Motivation: Crying out for Blockchain-Powered Disruption

Expensive… cumbersome… insecure…

Traditional mechanisms of business interaction and value transfer are woefully outdated, and are thus plagued by a number of intrinsic challenges. Challenges relating to data security, privacy and inefficient transfer processes make effective business collaboration extremely difficult, and lead to an annual loss of billions of dollars through increased costs and lost revenues.

On top of this, business networks are multi-layered and fractured between parties, and are therefore fundamentally inefficient on a collaborative level. Without a verifiably secure means to communicate, share data and move value between one another, inherent issues regarding trust, security and inefficiency are doomed to hinder collective advancement. In the process, untold innovation potential and resulting revenue benefits are being squandered.

To the top-tier team behind Loyakk this is a glaring opportunity to harness the transformative power of blockchain technology, to offset these losses and facilitate new levels of intra- and inter-business cooperation.

Mission: Providing Next-Gen Business Collaboration

Security… Privacy… Opportunity

Loyakk’s solution isn’t just about minimising financial losses caused by traditional inefficiencies, but is also aimed at maximising the collaborative value (both economic and otherwise) of business relationships within a network through enhanced collaborative opportunity.

By providing a platform fundamentally designed from the ground up for efficient and secure collaboration, the traditional challenges preventing the unhindered transfer of data and value can be effectively addressed. Meaningful collaborative relationships can therefore be fostered, without the factor of trust hindering development on this front.

Loyakk aim to ultimately facilitate the attainment of maximum collaborative value within wider business networks.

In fact, Loyakk is a pre-existing company already specialising in providing a platform which helps businesses to build valuable networking relationships with one another, effectively connecting and interacting through their successful solution. The company boasts a host of partners and customers who depend on their solution daily to conduct effective business operations.

Yes, Loyakk already have a working pre-blockchain solution, complete with a plethora of partnerships! But we’ll get into the meat of that in a later article.

Method: Innovative Blockchain-Based Platform

Enhanced functionality… Ultra-Secure… Easily Auditable…

Loyakk intend to take their impressive pre-existing solution to the next level by implementing cutting edge blockchain-based technology to enable new functionalities and inherently vastly superior security.

Loyakk Mission Overview.JPG

Past vs future business relationship mechanism, taken from the Loyakk whitepaper: https://loyakk.io/#whitepaper

Increasing the efficiency of the overall mechanism of B2B interaction within a network increases the efficiency- and therefore the revenue generation potential- of each individual party within the chain. To this end, Loyakk’s platform will facilitate standardized communications, permissioned sharing of data and accelerated movement of value between participants within each inter-connected network.

The platform’s innovative infusion of blockchain enables a previously unattainable level of efficiency, functionality and security during data transfer, through the platform’s native LYKK utility token which acts as an ultra-secure ‘data container’ during the process. Smart contract-enabled automation will provide new levels of efficient functionality, and the use of a common ledger means easy auditability across the board.

Summary

Business collaboration is evolving; the flaws of traditional mechanisms are all too painfully obvious and innovators such as the Loyakk team have begun to act on the glaring opportunity for hugely beneficial blockchain-powered disruption.

Loyakk’s innovative solution promises to not only make crucial routine business operations and communication more secure, efficient and functional than ever, but also stands to revolutionise the way in which businesses interact and network with one another. The team’s blockchain infusion into the platform will enable a level of functionality and security between parties not otherwise attainable.

Loyakk aim to ultimately facilitate the attainment of maximum collaborative value within wider inter-connected business networks. In effect, the innovators at Loyakk are birthing an impressive example of a whole new generation of enterprise-grade collaborative medium.

In the second instalment of the Loyakk Spartan Spotlight series, we will be analysing how the current problematic situation translates to a promising opportunity for Loyakk.

Have any questions regarding Loyakk? Join their active community on Telegram where you can discuss anything Loyakk-related: https://t.me/loyakk

Learn more at their website: https://loyakk.io/

Dig in deeper with Loyakk's whitepapers: https://loyakk.io/#whitepaper

Get connected to Loyakk on social media:
Twitter: https://twitter.com/LoyakkVega
Facebook: https://www.facebook.com/loyakk/

Disclaimer: this is not financial advice in any form, it is my opinion and insight based on research and you should always do your own research before committing to anything financially whatsoever.

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NIce one Spartan! Block chain and B2B is one combo I'm definitely bullish on long term!

Definitely, business mechanics and collaboration are in for a massive blockchain-powered overhaul in the coming years if you ask me.

I like the idea of an enclosed ecosystem for business partners secured by blockchain, could be big if carried out properly. I just have 2 Questions

  1. will all the data sent in the platform be transparently on the blockchain?
  2. how do loyakk themselves make profit?

Great questions, @rashisonto!
Privacy will be a key feature when it comes to the transfer of data, but it's all about permissioned access. So it won't be clear what has been sent to outside parties who are not permissioned to access/ view the data.
Loyakk's business model for expansion/ revenue generation includes platform licensing to users and the usage of the platform's LYKK token for every interaction.
I'll be diving into these topics in more detail in a later segment also. Stay tuned!

Great, looking forward to more. Be interesting to see how they can balance transparency and privacy.

Very Informative article!! Thank you!!

Thanks for your support!

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what are the ico details

The ICO was completed on the 31st October, and a total of $16.9m was raised. You will have to wait for an exchange listing if interested in acquiring LYKK. Be sure to keep up to date on the Telegram for the latest news.

Data is the new oil!

Shame the token sale has passed.