A PUBLIC ENTERPRISE BLOCKCHAIN ACCELERATING AUTONOMOUS BUSINESS
While there is much talk about when the enterprise blockchain will be commercial ready, in South Korea, led by private blockchain enterprise solution provider Blocko, blockchain applications are becoming deeply entrenched in enterprise systems.
Now seeking to leverage its proprietary technology in the open source blockchain community, Blocko has launched the public enterprise blockchain Aergo to serve as a nexus to open source blockchain ecosystems. Both the public and private blockchain solutions use Blocko’s enterprise blockchain platform Coinstack—software to develop dApps on private chains. Blocko’s Coinstack hosts over 9,000 enterprise applications, including those for the Korea Exchange, Credit Suisse, JB Bank, Hyundai Motors, and Lotte Card.
Aergo is reengineering the enterprise system with a public blockchain protocol, together with the middleware to link corporate private chains and public chains. The Aergo blockchain ecosystem comprises the AERGO Chain—seeking to be the internet of the public blockchain, it can process more than one million transactions per second; the AERGO Hub, the public interface with the AERGO Chain; and the AERGO Marketplace for apps.
HOW DOES THE FOURTH GENERATION ADVANCE ON OTHER BLOCKCHAIN ARCHITECTURES?
Aergo’s introduction of a fourth generation enterprise blockchain may seem remarkable outside of South Korea. Aergo is seeking to solve the enterprise blockchain challenges of scalability, distributed governance and privacy while maintaining security and immutability with its enterprise class technology.
The blockchain was designed to be flexible to tailor features to the individual needs of enterprises, while ensuring interoperability to avoid the systems integration challenges of legacy enterprise systems. Aergo uses an ‘SQL-like’ scripting language to provide data storage and access in a language compatible with the incumbent mainstream enterprise software. While Coinstack uses Java, Lua and other programming languages compatible with the Internet of Things.
A number of advanced features support an open source development and collaborative user environment. For example, distributed version control—cloning the entire codebase on each developer’s computer–allows for more control in the sharing of code and more rapid revisions in an open source ecosystem. While concurrency control supports the simultaneous execution of transactions in a multi-user database management system.
The token to be used to activate actions in the Aergo ecosystem and its initial coin offering have not yet been announced.
The token sale date has not yet been announced. Sign up for updates on the Aergo website.
Presale: No set token date
Token Sale: No set token date
Available Tokens for Sale: 30%
Token Supply: 500 million
Aergo has promising enterprise market penetration potential on the tailwinds of its parent Blocko, currently the enterprise blockchain giant in South Korea. Blocko’s most recent fundraising round will be used to expand its presence in Korea, Europe and East Asian markets. The Blockchain enterprise solution provider has just closed its fourth funding round for a total of $14 million raised. SparkLabs Ventures, POSCO, and Premier Partners join Samsung Venture Investment, Daesung Private Equity, and Wonik Investment Partners as Blocko investors.
Aergo’s organizational structure is made up of a Foundational Council, Committee Heads, a Tech Team, and a Business Team, under the aegis of Blocko.
Blocko Executive Team
Allan J. Kim – Founder
Won Beom-Kim – CEO/Founder
Aergo Foundational Council
Phil Zamani – COO, Blocko
Hun Young Park – Director, R&D, Blocko
Roderik van der Graaf – Managing Partner, Lemniscap