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Loyakk – Decentralizing of Traditional Businesses

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LOYAKK – Decentralizing Traditional Businesses

For any business to grow and boost its income, it ought to make cogent impacts on its output. The success of Mergers and Acquisition (M&A) propelled many companies into considering partnerships.

When businesses fail to provide target products that will be valued by the customer, there’s possibility of losing the customer’s trust and patronage. It has therefore become common practice for businesses to gather as much information about their customers. With data at their disposal, they proceed to produce products that meet customers’ pain points.

To illustrate this, let us regard two big players in the industry – Facebook and Google. With Facebook being a platform that links over 1 billion persons in the world, they have over 60% of its users’ information at their disposal. Because companies will like to sell their products and digital advertising is the fastest way to implement sales and make your business visible to thousands of users at a go, these companies approach Facebook for adverts.

The intention is to purchase advert rates using the Facebook Advert platform and Facebook in turn, supplies them with estimated number of its users that might be interested in the company’s product and service. Google on its part runs same channel using its AdWords.

The major downside to this formation is breach and loss of users’ information. Collection of users’ data is anonymous – users hardly know their information had been retrieved from their activities on such platforms such as creating a post and dropping comments on blogs.

These platforms hardly have control over its users’ data after they might have sold same to businesses that need them. A case study is Facebook’s incident with Cambridge Analytica. These had been the case because such platforms were centralized. Have lost over $2 trillion USD in revenue, Loyakk steeped in to salvage the situation.

The Platform

Loyakk is bringing diversification to business relationships. Partnering with the chain technology, it brings core decentralization to how businesses interact. Most times, customers hardly derived benefits from businesses. Loyakk bridges this gap by creating a Value Web.

The Value Web makes sure customers are provided with products and services that suit their interest. From another perspective, Loyakk’s Value Web also aims at making businesses have the best of partnerships. The partnership fostered by Loyakk’s Value Web intends breeding good relationships among businesses that wish to partner.

Tokenized Data Containers

Facebook’s incident with Cambridge Analytica was because necessary measures were not in place to fully protect the data of its users. Its centralized database did not help matters either. Loyakk therefore came up with another layer of security – Tokenized Data Containers.

Personal information of users is encrypted and kept within this container. Based on its programming, only participants can have access to available data in the container.

Architecture

Loyakk features impressive frameworks such as Business and Application services layers. The aim is to implement transparent transactions and breed a platform that can be trusted.

Use Case

Loyakk is implementable in decentralized platforms. Transactions among businesses in the past were not well-secured. In a digital world, it is pertinent that such practices should be replaced. Loyakk presents a platform that can be tracked and is also secured against hacks.

Milestones

Token Specifications

Ticker: LYK

Type: Utility Token

Token Standard: ERC20

Platform: Ethereum

Hard Cap: $28 million USD

Exchange Rate: 1 LYK equals $0.65 USD

Accepted: ETH, BTC

Country of Registration: The United Kingdom

Participating: The United States

The Team

Loyakk’s Making Business Relationships Beautiful

Every business’ prosperity depends on its transparent dealings and how trustworthy its customers deem it. The reverse seems the case and that was what Loyakk tends to change. With Loyakk, businesses can have full control over its customers’ data while presenting them with valuable products. With Loyakk, customers needn’t look elsewhere because they’ll be loyal.

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LOYAKK – Decentralizing Of Traditional Businesses. (2019, September 13). GradesFixer. Retrieved August 15, 2022, from https://gradesfixer.com/free-essay-examples/loyakk-decentralizing-of-traditional-businesses/
“LOYAKK – Decentralizing Of Traditional Businesses.” GradesFixer, 13 Sept. 2019, gradesfixer.com/free-essay-examples/loyakk-decentralizing-of-traditional-businesses/
LOYAKK – Decentralizing Of Traditional Businesses. [online]. Available at: <https://gradesfixer.com/free-essay-examples/loyakk-decentralizing-of-traditional-businesses/> [Accessed 15 Aug. 2022].
LOYAKK – Decentralizing Of Traditional Businesses [Internet]. GradesFixer. 2019 Sept 13 [cited 2022 Aug 15]. Available from: https://gradesfixer.com/free-essay-examples/loyakk-decentralizing-of-traditional-businesses/
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