Loyakk (LYK) ICO Review - Decentralized Business Network Platform

Zdnet estimates the cost of data leaks to the global economy [will] be $2 Trillion USD by 2019 – US Department of Commerce

Loyakk (LYK) - Decentralized Business Network Platform

Website - https://loyakk.io/
Whitepaper - https://loyakk.io/#whitepaper
ANN Thread - https://bitcointalk.org/index.php?topic=2838562.0
Telegram - https://t.me/joinchat/Hbh2llKie55QGqJdvcUCAA
Twitter - https://twitter.com/loyakkvega
Facebook - https://www.facebook.com/loyakk
YouTube - https://www.youtube.com/channel/UC65iEvKT10Hlmn5iSB5SD-w
Medium - https://medium.com/loyakk-vega-blog
LinkedIn - https://www.linkedin.com/company/loyakk/
GitHub - https://github.com/Loyakkio/loyakk

The Idea Behind Loyakk

Loyakk is building a Blockchain enhanced Platform, called Loyakk Vega, that will change the way businesses share and interact with their data, making them better at core competencies and eliminating costly data issues. The Loyakk Vega Platform is an aggregator for decentralized Business Networks that utilize Blockchain’s Distributed Public Leger Technology strictly for the purpose of taking advantage of its immutable and transparent way data is governed on it. The Loyakk Vega idea was set in motion as a solution to antiquated legacy systems that are buggy, clunky and in bad need of some technological overhaul. These legacy systems in use today have left businesses data vulnerable to sophisticated web-based data hacking attacks. Pushing the problem down the road by not fixing or addressing it, is no longer a viable or acceptable security policy for Loyakk, so they are changing the way businesses share data with each other and already have a healthy head start on their competitors just by looking at the Team Roster that this ICO has behind them. But more on that later, let’s dive into what problems Loyakk addresses in more detail and then peek into the solutions which the Vega Platform offers for those problems.

The Problems and Related Solutions

Being in business means that you are constantly under the threat of unforeseen problems that may arise from a multitude of areas. The challenges faced by businesses related to the secure and low-latency sharing of data with other B2B peers, are many. Data leakage, contract disputes and reduced visibility within business networks, leads to trillions of dollars in lost revenue, increased costs and future exposure to more problems. The solution that Loyakk is bringing to the table is multifaceted, meaning it has many layers. Some of these layers consist of indexes, modules, transaction managers and security monitoring IOT devices. All of Loyakk’s solutions are patent pending and proprietary in nature.

The Technology behind the Loyakk Vega Platform

The Loyakk Vega Platform’s Application Layer is comprised of a set of API’s, which they call Application Modules. These modules enable an enterprise to manage relationships all the way across its B2B Network. The Loyakk Vega Applications use Loyakk Tokens (LYK) to enable transparent, immutable and secure exchange of data, governance rules, and chain value within the B2B Network. The Vega Platform utilizes a patent-pending nested Blockchain architecture from within a single Blockchain, to validate transactions and move data containing value between Platform wide participants, based on identity management, B2B relationships and overall business rules. Next, I will list the four core components of the Loyakk Vega Platform which enable it to be an effective tool for B2B Commerce:

The Partner Management Module

This module will control how Businesses collaborate with their Distributors or Suppliers, to meet new demands from customers. The Partner Management Module enables complete sharing of custom deals made, detailed market/solution data, sub-contractor-based selling, affiliate revenue sharing and system wide delivery services, which are enhanced by a set of workflows that are wholly unique to the Partner Management Module. The Loyakk Vega PMM is the foundation of communication from within the Vega Platform.

The Channel Acceleration Module

The Loyakk Vega Channel Engagement Module, businesses will facilitate the B2B Business sub-contractors to sell product and or services faster, while maintaining a customer centric service relationship strategy in a unified and transparent manner. The Channel Acceleration Module is the grease that lubes the Vega Platform to allow efficient cross channel communication of smart contracts and added value chain related items.

The Vender Management Module

The Vender Management Module is exactly what it sounds like, it manages the relationship between businesses who do business with each other. This module maintains a working transparent ledger that stores business information which can be accessed and utilized without human interaction, all on the Blockchain.

The Customer Management Module

The Customer Management Module is the most important feature inside the Loyakk Vega Platform. This module allows data to be securely maintained on the Loyakk Blockchain, while simultaneously being able to be accessed through permissioned Smart Contract based POS Systems.

These four modules comprise the core components of the Loyakk Vega Platform. Now let’s take a look at the team bringing us the Platform.

The Loyakk Team

ICO Details

Ticker Symbol – LYK
Supported Currency - Ethereum (ETH)
Protocol - ERC20
Total Number of LYK to be Issued – 900 Million
Accepted Currencies - ETH, BTC
Rate during token sale – $ 0.25 USD/LYK
Min. Investment - .1 ETH
Soft Cap – $ 5,000,000 USD/LYK
Hard Cap - $ 525,000,000 USD/LYK