Loyakk

Idea & Token

Loyakk is resolving the problem of data sharing between businesses worldwide. Using current centralized systems leads to losing billions of dollars because of inefficient and insecure communication between business partners. Decentralization of the current systems will eliminate data leakage, contract disputes, and limited visibility across their business networks. Loyakk is creating a business platform for secure data sharing through smart contracts and regulated with business rules and security policies. In simple words, as they say, Loyakk comparing to the current systems is like FedEx comparing to postal service.
So, what Loyakk does point by point:
– Secures information exchange and collaboration
– Accelerates complex deals with multiple parties
– Minimizes disputes via improved data verifiability
– Enables permissioned access to data by customers, partners, auditors, and regulators
– Standardizes all interactions on the network and reconciles data from variety of sources
– Enables secure and accurate movement of digital assets between participants
Loyakk’s ERC-20-compliant token called LYK will be required for all interactions across the platform. It’s used to carry data, control data propagation, and provide access permissions and auditability across the entire platform. Loyakk will incentivize to have as many inter-business interactions as possible, as it will increase the value of the entire business network for all participants. The current supply is 177 million tokens. The token distribution is as follows: 34% – sale, 18% – team, 16% – incentives and rewards, 14% – partnerships, 11% – developer bounty, 7% – advisors.

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.

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.

A project that is aiming to make emailing a past day and bring inter-business communication to a completely new level.