Blockchain Technology
Blockchain is a system of recording information that every time a new transaction is added, it adds to every participant’s ledger instead of one single entity. Thus, blockchains is known to have the advantages to solve data privacy and ownership concerns – immutable, transparent and decentralized; making it an ideal solution for connecting data islands and engaging the whole network of businesses easier for collaborations.
Smart contracts are digital contracts stored on a blockchain that are automatically executed when predetermined terms and conditions are met. It is typically used to automate transaction with an agreement without any intermediary.
LYODS digital transformation units are cross-culture from different background, we aim at identifying clients’ needs, leveraging the unique benefits of different technologies, and formulate practical solutions for clients. Contact us HERE for more information.
Application example: LYODS Web 3.0 Marketplace
Blockchain platform with smart contract can be leveraged to facilitate multiple stakeholders for new business model / trade and service collaboration in a business ecosystem. NFTs marketplace is one of the applications, which is good to be used for Arts, collectibles and gaming. Since blockchain marketplace engaged multiplayers with remote payment, either digital or crypto, players are directly exposed to the possible regulatory and governance risk at the point they deposit the earnings into the banking system, such as the sum received or even bank account being frozen. Therefore, a marketplace equipped with compliance solution is necessary to mitigate the risk.
LYODS Web3.0 Technologies is more than blockchain, contact us to discuss the potential adaptation to solve for your business problems.
