✡✡✡ Loyakk (LYK) ICO Review ✡✡✡

mehedi220 (27)in #steemit • 6 years ago

What is Loyakk?

In today’s world business is a very complicated process which requires a lot of knowledges and ability to take risks on your own. There are millions of details and all of them should be considered in an advanced manner. Each operation has a lot of different aspects and to take control over them entrepreneur should use different types of assistant systems such as: ERP systems, CRM solutions and so on. For now all what do we have available in the market is conventional, centralized solutions, but blockchain, as a technology, could and will disrupt all currently existing relations. It will solve problems of trust, data immutability and value transfer within the any given enterprise.

Loyakk is a blockchain-enabled platform for enterprise business networks that enables enterprises (or companies) to engage with their network of business partners with greater security, efficiency and governance. With Loyakk, businesses can now combine blockchain with relationship management capabilities to address critical challenges they face in b2b engagement, including data / IP theft, data reconciliation, contract execution and disputes, while ensuring compliance to business rules across the network. This leads to significantly reduced operational friction costs and revenue leaks, while accelerating business revenues.

‍Why there is a need for Loyakk?
Enterprises today lose billions of dollars working with partners1 within their business networks with multiple problems including Data Breach /IP theft, data reconciliation issues, bloated processes and contract disputes, etc. Loyakk solve these problems and helps enterprises save significant costs and accelerate revenues. Enterprises today interact with their partners in an unsecured, inefficient manner with limited data controls in place. Loyakk offers a ‘Blockchain-enabled platform for enterprise business networks’ that transforms how enterprises collaborate and share data with their partners with greater security, increased efficiency and better.

How Does The Loyakk ICO Work?
The highly-qualified team works on the diverse Blockchain Patents and the huge number of them has been already filed successfully. It is important to note that there is the focus on the apps based mainly on Hyperledger Fabric and Quorum.

The platform allows the multiple enterprises all over the world to share, exchange their data in a totally secure way. The project works on its own patent-pending blockchain technology. And its implementation promises to be exceedingly helpful since there will be the leading capabilities for the excellent enterprise relationship management.

The company offers the smart solutions and among them are the critical app, the diverse indispensable platform components as well as the services allowing early and evolving blockchain use in those fields that meet Loyakk Vega’s view.

✴✴✴ Benefits of the Vega platform ✴✴✴
Highly secure data exchange, collaboration and engagement between members of the distributed business network.
Provides permission only access and visibility data by network members that is based on identity, relationship and business contexts.
Aids in timely and accurate movement of digital assets between participants that will be based on business rules and policies set throughout the network
Speedy remedy to complex deals, projects with multiple parties with smart contracts, and reduce disputes through better data verifiability.
Systematize all communications on the network, to help reconcile data from disparate sources. Provides a transparency to verify all interactions by users, partners, auditors and regulators.

✧✧✧ Implementation ✧✧✧
Loyakk is making platform called — Vega — which will have a lot of different modules making business processes more efficient and as a result to maximize profits of the each particular company.

It will use so-called “Value Webs” — some sort of internal company network which includes all aspects of an everyday operations. Each company, implemented Vega platform will have its own Value Web which will be connected to other Value Webs — other companies — through the Loyakk Network. To better understand what do they offer, we provide you with a hypothetical example.

Let’s assume that you’re an owner of vehicle factory and producing 2 types of vehicles — standard cars and commercial transport (let’s say Vans). What processes do you have everyday?

Raw materials suppliers. You should control that all necessary materials for your cars are delivered and distributed through the factory in the right time.
Internal business processes. This includes HR, salaries, accountants and so on.
Distribution channels. To sell your cars, you should build your own distribution network and provide it with all necessary marketing stuff.
Partners relationships. As a manufacturer you’ve got a lot of partners who is making your business more profitable and valuable.
All these components require different applications and at the end point all data will be mixed and should be audited by a responsible personnel which gives human’s factor to the business and increase a probability of errors. To avoid such errors, business needs all-in-one system which will guarantee that data will be immutable and accessible at any moment of time. That’s where Loyakk Vega platform comes in. Using blockchain technology it provides trustworthy system to manage all business processes in one window without need to use different software. Moreover, data could be accessible by each person who has an authority to check it and because of its distributed nature, platform will have stability and security.

✤✤✤ Market Analysis ✤✤✤
Entire market for the Loyakk Vega platform is very huge because of the nature of their platform. Any existing business is a potential customer and will be interested in using Loyakk Vega platform to optimize their everyday business processes and increase efficiency. Currently the best company to describe Loyakk competitors is SAP with their products. The main advantage for Loyakk is all-in-one solution instead of different enterprise modules offered by SAP and, of course, blockchain usage which brings speed, trust and data immutability to the system.

✣✣✣ TOKEN AND ICO DATES ✣✣✣

The Loyakk Token provides much more than being just a payment system on the platform. The key uses of the token are :
Permissioning — Sensitive and confidential data can only be accessed by parties that have exclusive access.

Standardization — The token will identify the standard formats and the set regulations for data exchange.

Propagation — The token will ensure the adherence of rules and regulations within the entire business network and other global regulations which will ensure how data is used and controlled and security is achieved.

ICO Start Date : 23rd Feb 2018
ICO End Date : 23rd Mar 2018

Token : LYK (ERC20 standard)
Total Supply : 1,000,000,000
Current Release : 300,000,000
Available for Purchase : 183,000,000
Price Per Token : £ 0.50
Purchase Options : Payable only in BTC or ETH
Min. Purchase : 200 LYK
Employee Tokens : Employee Tokens will be issued only after
Token buyers, & vest over a period of 1 year
Platform : Ethereum
Country : UK
Whitelist/KYC : Whitelist
Restricted areas : USA

Token Investment Allocation
Partners : 5%
Incentives : 7%
Blockchain Research Fund: 10%
Team & Advisors : 17%
Token Purchasers : 61%

Bonus and reward system
Feb 23 to Feb 27 : 20–25% based on amount purchased
Feb 28 to March 5 : 15 to 20% based on amount purchased
March 6 to March 16 : 7 to 10% based on amount purchased
March 17 to March 23 : 0%

✶✶✶✶✶✶ Summary ✶✶✶✶✶✶
Loyakk is creating a platform (currently patent pending) that will bring business communication from simple emailing to a brand new level by using the blockchain technology. The project is driven by a strong experienced team and led by Salim Ali, a recognized personality in blockchain community. The team has established several partnerships and will potentially have SAP as a partner. Considering disadvantages we note quite high hard cap ($45 million) and weak token adoption scheme which is set to gain token value only with increasing number of transactions on the platform. They even don’t have a token burning stage. Anyway the project is recognized and included in different independent top ICO project lists.

Team
The team consists of 8 experienced specialists, including business development staff, product manager, two blockchain architects, as well as specialists in marketing, customer adoption, and token sale campaigns. The team is based in Silicon Valley and led by Salim Ali, CEO and founder, who was the Global Vice President, Marketing at SAP. He’s also a frequent speaker on Blockchain theme and the impact of the technology on enterprises. The advisory board includes 4 solid blockchain advisors and 4 industry advisors, including people from Nissan, SAP, and McAfee.