A report published on Statista revealed that there had been a little improvement in the blockchain technology use cases in organizations. However, there is a huge room for improvement as the data is only a fraction of what can be possible with blockchain. The report showed that “secure information exchange” witnessed the highest use of blockchain with up to 45%, while anticounterfeiting was the least with 28%. There is a need for industries to embrace the massive potential of blockchain technology. However, this cannot be achieved without having someone lead the charge.
BLOCKS DAO LLC is a blockchain-based project that is out to help organizations and industries build on the blockchain network. They aim to help industries migrate to blockchain and enjoy all the benefits that come with it.
Overview of the BLOCKS DAO LLC Project
BLOCKS is the first ever DAO, LLC, seeking to migrate traditional organizations and industries onto the blockchain. The network intends to expand the utility of its digital asset to serve as a unit of measure for blockchain. Deloitte’s market research revealed that more than 41% of corporations and midmarket consumers find blockchain exciting but haven’t adopted or invested in the technology due to its complexity.
BLOCKS DAO, LLC is offering simplified blockchain architecture to make it easy and simple for organizations, businesses, and industries to onboard without any glitch. The team seeks to deliver a simplified, hybrid, web 3 blockchain network for enterprises and businesses. BLOCKS will revolutionize the ways enterprise companies engage with blockchain, setting a new standard for industries worldwide. This will help the network to offer a solution to the blockchain trilemma that includes security, speed tradeoff, and scalability.
BLOCKS will leverage an improved asset tokenization standard known as ERC-777 on the Ethereum blockchain. This standard is reverse compatible with the ERC-20 standard, and it offers cross-chain use cases which improve the efficiency of events like oracle functionality, trading, payments, etc. BLOCKS network is helping users migrate from Web 2 (internet of shared information, content, and files) to Web 3 characterized by transactional economic value among consumers, corporations, and governments.
BLOCKS DAO Token Engine
BLOCKS network uses a special technology known as “BLOCKS Token Engine.” The token engine architecture is designed to help simplify the process of placing items or products for record-keeping between transacting parties on the blockchain network. With the BLOCK Token Engine, a wide variety of assets will be tokenized, and these assets are different from traditional finance in the exchange of personal or peer-driven marketplaces.
The tokenization of assets makes it possible for consumers to record, transact, and pay for the peer-to-peer and business-to-consumer exchange of assets without the need for intermediaries. This helps to reduce transaction fees and expedite capital and asset exchange between people worldwide. For corporations and individuals seeking to transact with each other, the BLOCKS Network provides “Proof-of-Validation (PoV) in places where traditional or regulatory permissions prevent free exchange or require intermediaries that can slow the transaction process.
The General Goal of BLOCKS DAO LLC
The three-year decentralization plan of BLOCKS makes it possible for a strategic transfer to the complete DAO structure. It also ensures that the BLOCKS token, infrastructure, and governance are established all through the migration process. With the DAO structure of BLOCKS, it is seamless to onboard a variety of industries with secure and stable blockchain solutions.
Standard Unit of Measure
BLOCKS aims to become the benchmark for how enterprises and businesses integrate blockchain into their system. They hope to provide a simplifying blockchain network that the average consumer, corporation, and government can adopt to move their activities onto the blockchain.
The BLOCKS team believes that blockchain technology can improve things irrespective of the industry. They seek to help industries find solutions on the blockchain, no matter the chain those solutions are located.
An Eye On BLOCKS
As their committed “progressive decentralization plan” comes into play, we are incredibly excited to continue to monitor the development and precedents that this sets for DAO governance and operations. The commitment that the team has shown to not only enterprise clients but also Wyoming legislators is truly impressive and we will be keeping an eye on them.