The cryptocurrency space looks a lot different these days. Gone are the 50-100x expectations, blockchains claiming a gazillion tps look suspect, and a 2-3x return seems a lot more reasonable. ICO’s are being replaced by STO’s and exchanges are trying to provide investors with a sense of security by hosting their own IEO’s (Initial Exchange Listing). Having experienced the .com bubble where every offering was registered with the SEC, I can say with confidence that none of the above are a safe haven. Why you ask? It is because no matter how great the project is, adoption and use is key to the projects success and the investors profitability. This is why I see enterprise backed projects as the safest bet. One of note is Loyakk Vega…
Loyakk Vega is an enterprise backed data security platform which is helping some of the biggest Fortune 500 companies secure their most sensitive data using a patent pending Ethereum consensus mechanism. IBM mentioned that the average cost of a corporate data breach costs $4 million dollars. Globally, total cost is in the $100’s of billions and exponentially rising as hackers take advantage of holes in archaic data security systems.
In addition, Loyakk Vega also helping corporations remain GDPR compliant; as the platform allows user the track the location of their data at all times. Therefore, when a request to be forgotten under GDPR regulations is received, the company can accurately identify all who have access to that data; and recall it by removing access permissions. The fines imposed for GDPR violations are astronomical and can severely affect the company's viability. The GDPR regulations states that up to 4% of a companies global revenue can be levied as a fine; to date, that has been almost $50 millions dollars in a few notable cases.
Here is where Loyakk Vega’s experience dealing with major corporations and enterprises comes into play. On the tech side, the team has a long history working with and for some of the biggest corporations in the world; SAP, Novartis, IBM (Just to mention a few). The teams experience lends the advantage of understanding the GDPR and Data security problem from the inside out intuitively. The cryptocurrency space has been plagued by projects that come up with an idea that is easy to sell to investors without an understanding of the intricacies of the problem they are claiming to solve; let alone if widespread adoption is achievable. The typical next step is to hire a blockchain dev team and a marketing company to hype a project; which in most cases is DOA (Dead On Arrival).
The team at Loyakk had already been working on solutions to serve their prestigious client base before the blockchain aspect of the project was envisioned. As well as having been working on the data security management issues with much recorded success which few other projects can claim.
Project development is the first logical step for any blockchain project, but widespread adoption is the expectation of those who invest in the project and where most blockchain/cryptocurrency projects fall short. 2018-19 we have seen numerous projects launch their mainnets, to only have a few dozen daily users on the platform and no clear path toward greater adoption. How many of us are tired of finding ourselves caught up in this situation to our dismay? I for one have and which is why i now view pre established enterprise relationship as a must before I invest. Some may think that a working product is the benchmark; however, as I have mentioned, that does not equate to adoption/usage.
This is where I see Loyakk Vega’s main strength. The team can proudly point to an impressive list of Blue Chip clients which many overlook...are already using the Loyakk Vega Data Management Protocol. Yes, versions 1 of the platform is already in use by numerous Fortune 500 clients and many more to come. This is not only a nod in the direction of the team’s abilities and experience, but also the potential for widespread adoption. Again, “adoption” which is the reason why we invest in any project and without it we would be better off investing in more traditional asset. Loyakk Vega has achieved a level of corporate adoption that other projects can only dream of. So now that we are all a bit older and wiser concerning the blockchain space, I hope that we begin to see that investing in projects which have proven enterprise relationships is the best play on the table.