LTO Network (LTO)
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LTO Network's journey began in 2014. It started as a reg tech startup in the Netherlands focusing on company incorporation and quickly grew to account for over 10% of the entire Dutch market. In 2015, the team realized there was a growing demand for workflow automation, and continued building centralized software for Euronext, Heineken, Deloitte, etc. However, the moment when clients had to collaborate with other organizations or even between departments, the efficiencies of automation were gone. This so-called 'silo effect' is still the top barrier for organizations to reach the next level of efficiency of their business process automation. Then along came the blockchain, which had the potential to solve this problem without compromising productivity and data security. This has been LTO Network's focus since 2017 - utilizing the blockchain technology to solve the needs of B2B clients and making adoption happen today.
Digitalization and automation of business processes offer great benefits in terms of productivity and cost reduction. However, organizations struggle to tap into these benefits for inter-organizational processes, partly due to a lack of trust. Bitcoin has proven how blockchain uses distribution and cryptography to provide a system that does not rely on trust. LTO Network builds upon this foundation taking a hybrid approach with its blockchain solution. Private layer is intended for Live Contracts, ad-hoc permissionless private chains, each with their own workflow logic. Every Live Contract rests upon its own miniature chain. The logic in each miniature chain is defined as Finite State Machine, making it understandable for both humans and machines. Essentially any deterministic inter-party process or legal agreement can be automated as a Live Contract: supply chain, third-party data handling, real estate lease agreements, etc. The data from private chains does not get exposed to the public chain, instead, events happening at the private layer are anchored to the permissionless public chain. The public layer acts as a security settlement layer, like an immutable digital notary for hashes. This hybrid approach takes the best from the two worlds: decentralization of the public chain due to token incentives - and data privacy of private chains. Combined, it makes LTO Network GDPR compliant, scalable, and allows for seamless adoption.
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