Photo by Pedro Lastra on Unsplash

Think of the actual and antiquated ways that business data is shared among clients, partners, distributors and vendors and all the other entities that a business interacts with.

File transfer? Email? Fax? How efficient are the data flows and processes that link all these actors together?

What about the security and privacy implications that exist here?

Who gets to see which data and who gets to act on it?

How many billions of dollars are lost each year by inefficient processes and the resulting lost revenues?

Imagine a platform that enables a business to hone and streamline its processes so that all communication is standardised, where permissions are in force for sharing of all data, where business rules are totally enforceable and where security and privacy are completely water tight.

This platform is close to launching and it’s called the Loyakk Vega Enterprise Relationship Management Platform.

How does business traditionally share data?

Let’s say an employee of an enterprise wants to share data with an employee of a partner enterprise. Traditionally this is done by the employee perhaps cutting and pasting information and sending it by email or a file could be attached and sent. Once this information leaves the enterprise firewall it is open to be copied, changed or forwarded on to a 3rd party. Hopefully all employees in your enterprise and those in partner enterprises are honest — hopefully…

How will the Loyakk Vega platform revolutionise this process?

Enterprises care most about their deals and sales information data. So what if this data was able to be wrapped in a tokenised container that was 100% secure and which carried with it permissioning as to exactly who could read or interact with it?

As an example, take an employee who is working with the Loyakk Vega platform. This employee, using their own personalised web-based or mobile app interface, can make targeted interactions such as engaging in secure conversations and sharing critical content with a few simple clicks. The platform ensures that each user has the correct access controls based on agreed business rules.

The tokenised container that carries all the data and permissioning is called the Loyakk data token (LYKK). All data sent this way would be fully traceable and auditable, contributing to total transparency so that an enterprise could have a level of control never before envisaged.

Who is behind the platform?

The Loyakk Vega team is based in Silicon Valley and has provided leadership for multi-billion dollar data solutions within blue chip companies such as SAP, Siebel, Oracle, VmWare, Symantec and IBM.

CEO and Co-founder Salim Ali spent 9 years at SAP where he was Global Vice President, Marketing. He had responsibility for billions in annual licensing revenue and pipeline objectives. He also has product management and engineering experience with Symantec and Veritas among other major industry leaders.

The rest of the team has both enterprise and blockchain experience across the aforementioned blue chip companies.

Heavy hitting industry partners such as Mphasis, a billion dollar global financial services leader, have chosen Loyakk Vega to jointly provide solutions for insurance and financial services. Existing customers Sap, Abbott Labs, Novartis and Infosys add to the impetus behind Loyakk Vega and also leading luminaries like Anthony Thomas (Global CIO, Nissan Motors), Sanjay Sahgal (Director, Uber) and Leslie Dukkgr Doty (Executive Vice President, Time INC.) are very much behind this project.

Conclusion

Enterprise applications have not even really begun to harness the power of the blockchain yet and this is astonishing given how the blockchain is disrupting so many other sectors. The Loyakk Vega Enterprise Relationship Management Platform will disrupt business data interactions within each enterprise ecosystem in a completely secure, permissioned and time saving way.

GDPR compliance is easily taken care of and traditional business challenges such as data theft and contract disputes will be a thing of the past.

The Loyakk Vega Enterprise Relationship Platform smart contract has recently been independently audited and the LYKK token will shortly be listed on exchanges — I for one will be watching this space with interest.

Disclaimer: All the above views are my own and should in no way be taken as financial advice. All those wishing to invest in the crypto market should do their own research or use the services of a fully certified financial advisor.