The Builders — Founders Spotlight: Loyakk
(Photo: Loyakk ltd CEO Sadiq Quasim)
Describe Loyakk in one sentence:
Loyakk has built the world’s 1st tokenized data container to secure business interactions and transactions – enable enterprises to collaborate & share data with partners resulting in improved security, efficiency & governance.
Now please tell us more specifically what Loyakk does:
With Loyakk, businesses can now combine blockchain with relationship management capabilities to address critical challenges they face in b2b engagement, including data / IP theft, data reconciliation, contract execution and disputes, while ensuring compliance to business rules across the network. This leads to significantly reduced operational friction costs and revenue leaks, while accelerating business revenues.
What inspired you to start Loyakk?
We have a very experienced team that have come together from top-tier software companies across the world having led marketing efforts for multi-billion dollar solutions at SAP, Oracle and VMware. The problem domain that Loyakk is looking to address is a well recognised one. The market opportunity is significant and Loyakk’s Blockchain-based Enterprise Relationship Platform has the potential to disrupt the current landscape of enterprise software. Loyakk’s team consists of seasoned professionals with deep domain knowledge, and expertise and experience from the world’s leading enterprise software providers. The vision for the platform based on Blockchain is well thought out and can address significant challenges currently faced by enterprises.
What has Loyakk achieved so far?
We have already built Version 1 of our product (non-blockchain) and have multi billion dollar organisations as customers. Some of our customers are SAP, Novartis, Mphasis, Infosys & Abbott Labs. We have already written 800,000 lines of code and are due to release the blockchain enabled solution in Q1, 2019.
We have industry luminaries as our advisors and investors including leaders from SAP, Lloyds Bank, Zurich Insurance, Nissan Motors & McAfee.
We have successfully completed an ICO and raised over $16.9million with participation from funds, corporate partners and individuals from across the world.
What do you hope to accomplish within the next few months?
While we continue to develop the solution, the focus over the coming months is to have a successful listing of the Loyakk Token and start executing on the road map that has been laid out.
Give us 3 tips for people who are doing/plan to do an ICO:
- Build an MVP that your supporters and potential customers can see and test out
- Get a team of people around you who believe in your vision
- Complete all the basic items quickly (Whitepaper, Listings, ICO Scoring, Reviews,etc.) so that you can then start the marketing and community outreach. Always be available to your community of supporters.
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