Loyakk's mission is to transform how businesses create and deliver value in the new decentralized economy with their globally distributed network of partners, channels, distributors and vendors. Businesses today face multiple challenges related to data security and privacy, data reconciliation, contract disputes, inefficient processes and limited governance within their business networks leading to billions of dollars lost annually due to increased costs and lost revenues.
1. Transaction Manager (TM). A TM’s role in Loyakk Vega platform will be to store and provide access to encrypted private transaction data. It will also be responsible to communicate with other TMs in the network if required based on participation of other nodes and the type of transaction. 2. Crypto Manager (CM). CM in Loyakk Vega platform will be responsible for private key management, communication with TM, and encryption and decryption of transaction data. A CM in Loyakk network may be used at the level in the tree or at any level below its own level. 3. Voting Chain (VC). VC in the Loyakk Vega platform will offer majority-vote based consensus mechanism to verify the transactions. 4. Validation Manager (VM). A VM in the Loyakk Vega platform will serve an arbitrator and record holder responsible for maintaining the public as well as private state of transactions in which it participates.
January - October 2016
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March - April 2018
Attention. There is a risk that unverified members are not actually members of the team
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.
As the product niche is so specialised, Loyakk appear to have no direct competitor currently within the blockchain realm. That is not to say one won’t emerge for that another traditional EAS company won’t build their own version, but it appears that Loyakk have both field experience and first mover advantage to face down potential future challengers.
It would have been preferable for a platform prototype to be available for evaluation but, as Loyakk already have a ‘legacy’ EAS system operational within the business world, the existing business could be seen as the MVP itself.
The team’s presence within the EAS is proven, as is its credentials, and given its current client list the obstacles to future adoption appear to be minimal in comparison to the vast majority of ICOs in operation today. Technically, the team appear suited to the task and the advisors have been well chosen to add wider skill sets to compliment those the team already hold.
With the direction of the project being at least partly guided by initial customer feedback and ongoing consultation, the business need-case for the product is also clearly demonstrated.
The hard-cap is high but perhaps not excessively so for a project that essentially carries global ambitions. The final amount raised will determine how fast and how far the blockchain platform is rolled out rather than covering start-up costs associated with many ICOs.
Potential investors may have wished to see more of the tokens available in the ICO, perhaps with a lower % allocated for the team and advisors, but the lock-up period for those tokens will possibly offset those concerns.
Another point to consider is the un-mined pool of tokens used to on-board license holders. It is undoubtedly a useful product selling point and should help to drive adoption but even though these tokens are not available for resale, ICO contributors will need to evaluate if they believe this will increase or reduce secondary market demand for LYK.
The ICO bonus structure is well thought out and the promised delivery of the second version of the platform within the next 6 months will be an early indication for investors of the company’s true potential and growth possibilities.
Overall, then, this appears to be a stand-out ICO from a qualified team with established credentials, proposing a sound business model that makes for a good blockchain fit.
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