Loyakk gives Data solutions to Businesses

in #ethereum6 years ago

From customer credit card details that ease the flow at online checkouts to employee records that are vital to HR departments, today’s businesses are built on sensitive data. In many ways, it’s the lifeblood that makes the modern company tick. If experience is anything to go by, though, it can also feel like the next big security disaster is waiting to happen. Enterprises are using emails to transmit sensitive data since it is the universal method of communication in businesses but it poses risks as well.

How does a data leak affect businesses?

The size of the breach is also, obviously, an important factor in determining the overall cost. 'For a breach that results in less than 10,000 records being compromised, the average total cost is $1.9 million, but for 50,000 or more that rises to $6.3 million' according to General Data Protection Regulation. The days of employing skilled, top data experts preventing data breaches or leaks are gone. Even the most secure and experienced firms such as Facebook could not prevent data breach which affected 87 million users and caused $6.06 billion of losses in stock value.

How does Loyakk aim to help businesses?

Loyakk aims to implement decentralized blockchain technology to the business application. Using the potency of the blockchain, Loyakk shall enable enterprises to strengthen their cybersecurity and efficiently censor the communication among the enterprises both internally and externally. Loyakk will be using end-to-end encryption for the data being transmitted by businesses in their platform. How will business transmit data through Loyakk and which category will Loyakk support?

Firstly, Loyakk has the ability to transmit unstructured data which shall include normal, day-to-day communication among supply chain manager and the supplier. Next, Loyakk has the second category of storing valuable, sensitive data such as company's PDF or financial information of the company. This category of data is confidential and the use of email will increase the risk of accessing this data through cyber leaks. Finally, the most important data in the Loyakk platform includes top-secret data which could be referred as a prototype(beta) sent to CEO of company or design of an upcoming product. These 3 categories of data transmission in Loyakk shall permit the data being shared only to the user who has sent it and the user receiving it, it is having the ability of end-to-end encryption which is not present in emails. Loyakk shall enable enterprises to build their networks either they can use their own network or they can opt to use multiple networks.

Upon analyzing an ICO, the team plays an exemplary role in determining the potential success of a project. The core team is based in Silicon Valley, Loyakk has recruited tech-savvy, management executives which have united together into the team of Loyakk. The CEO, Co-Founder of Loyakk is Salim Khan who has 'broad experience of Blockchain since past 3 years, Enterprise Applications (CRM, ERP), Big Data Platforms (SAP HANA), replication/backup and systems management applications'. Loyakk aims to revolutionize the business operations of data transmission which shall enable them to protect themselves and their customers as well. To conclude, Loyakk could be a home run if it fulfills its roles as planned and it has high interest in the ICO market.

Company Links

Website: https://loyakk.io/
Whitepaper: http://www.loyakk.io/#white-paper
Bitcointalk Thread: https://bitcointalk.org/index.php?topic=2838562.0
Telegram: https://t.me/loyakk
Twitter: https://twitter.com/loyakkvega
Facebook: https://www.facebook.com/loyakk

Proof of Work for https://bitcointalk.org/index.php?action=profile;u=1887821

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