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Loyakk – a blockchain based platform for enterprise business networks

Loyakk is a blockchain based platform for enterprise business networks that offers companies the tools they need to interact with their network of business partners with optimum efficiency, security, and governance. With Loyakk, companies can integrate the blockchain technology with relationship management tools to mitigate most of the challenges they encounter in b2b engagement, including data theft, IP phishing, data reconciliation, contract execution, and disputes, while guaranteeing compliance to business regulations and rules across the network. The result is considerable reduction in operational friction costs and revenue leaks, while also maximizing business revenues.

Loyakk Vega Enterprise Relationship Platform

Loyakk is building the blockchain-enabled Vega Enterprise Relationship Platform to enable enterprises to connect, interact and exchange data and value with their various partners and customers in their business network. They will power Business Networks where data, information and value are exchanged based on complex business contexts, distributed relationship structures and legal agreements.

The Platform

The Loyakk Vega Enterprise Relationship Platform will leverage patent-pending nestedblockchain architecture and a proprietary consensus mechanism to share and/or move data and value between business network participants based on identity, relationship
and business rules. Vega will thus deliver key features that are the foundation of valuewebs. These are as follows:

  • Secure Information Exchange – In a Loyakk-powered Business Network, information is value. Building operations around an business network begins by ensuring all users get access to the right (shared) data and ensuring that this data is verifiable, permissoned and immutable.
  • Workflows – Data moves at times manually and at times programmatically. Regardless of what initiates data movement (across organizations and blockchains), it needs to be controlled and be auditable. For this purpose, Vega supports data workflows between all business network applications across the blockchain. These data workflows are aligned with business processes; the right information is securely shared based on relationship contexts, legal agreements and applicable business rules. Individual parties can control and track access to their proprietary data or content.
  • Relationship Management – Relationships are the cornerstone of any business ecosystem. In value-webs relationships are dynamic and relative. Vega’s relationship management capabilities enable enterprises to create and manage relationships amongst participants of the value-web with a goal of maximizing the the output of the ecosystem.

The Motivation

Loyakk’s mission is to transform how businesses create and deliver value in the new decentralized economy with their globally distributed network of partners, channels, distributors and vendors. Businesses today face multiple challenges related to data security and privacy, data reconciliation, contract disputes, inefficient processes and limited governance within their business networks leading to billions of dollars lost annually due to increased costs and lost revenues. Zdnet estimates the cost of data leaks to the global economy to be $2 Trillion USD by 2019. Loyakk is addressing these business challenges through their patent-pending blockchainenabled Vega Enterprise Relationship Platform. Loyakk Vega is an enterprise-grade platform that is being designed specifically for secure business-to-business engagement. It leverages patent-pending blockchain technology to support permissioned sharing of data, standardized communication interfaces, accelerated movement of value based on smart contracts and consistent propagation of business rules & security policies – leading to greatly improved security, efficiency & distributed governance across any business network.

The Loyakk VEGA Partner Network

Loyakk will build a network of development partners with whom they may jointly develop specialized solutions for industry-specific business networks and also enable developers to build specialized solutions that will augment the Vega Platform & Applications and give their customers added value and choice.

For more information read the Whitepaper.

 

 

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