HMG Strategy recently caught up with Loyakk CEO and Co-Founder Salim Ali to gather his insights on the company and the opportunities for leveraging blockchain to transform how businesses manage globally distributed relationships

Businesses are increasingly distributed and decentralized. The decentralized business networks that companies participate in demand heightened sharing between functions, data and value. These requirements necessitate greater trust within the network.

Meanwhile, as enterprises attempt to manage interactions across their ecosystems using traditional applications like ERP or CRM, or email, businesses continue to struggle with multiple challenges: inefficient processes; contract disputes; data leaks, IP theft, and limited governance across these globally distributed networks.

As EY points out, blockchain technologies can provide a solution to these challenges by revolutionizing the supply chain. A blockchain-based relationship network can track transactions, ownership of assets, and value securely in a distributed setting where all activities can be verified and updated by all participants. Contributing to the trustworthiness of a blockchain network is that once information has been entered into a blockchain network, it can never be erased, thus providing a permanent and unimpeachable record for transactions.

Loyakk’s Vega Business Relationship Platform addresses these issues through a combination of blockchain technology and advanced enterprise relationship management capabilities. It provides for secure, decentralized and context-aware interactions and transactions between enterprises and business partners, vendors, channels, and customers.

HMG Strategy recently caught up with Loyakk CEO and Co-Founder Salim Ali to gather his insights on the company and the opportunities for leveraging blockchain to transform how businesses manage globally distributed relationships. Read the Interview here: http://bit.ly/2GUFdZr

About HMG Strategy: HMG Strategy LLC provides information technology (IT) leadership, management, and technology support to CIO and senior IT executives. The company conducts and organizes CIO executive leadership summits and VIP dinner events that enable CIOs to share their leadership strategies and personally connect with other CIOs. It offers CIOs with leadership strategies, resources, and services; and gathers CIOs for conferences on leadership, innovation, and transformation. The company was incorporated in 2008 and is based in Westport, Connecticut.