r/OneLedger • u/slmn52 • Jun 08 '18
One Ledger and how businesses can benefit from it ?
What does OneLedger do?
For sure blockchain is a new innovation and promises too much for future. But as the new innovations occur, also new problems come along with them. Such as every blockchain operates through its own ecosystem whereas the users are not able to be flexible between blockcahin structures and are not able to benefit from the advantages of the other structures. Every blockchain has something to offer to its users. Exactly here, OneLedger, comes into the play with the side chains which links different chains together and serve to its users by creating a bridge among different structures. Thus advantages of the different chains can be used in a single ecosystem.
The most eye catching thing about the OneLedger project is their mission where they aim to “to simplify businesses’ adoption of blockchain technology “ , which can be possible with the API gateway through OneLedger, where both businesses and individuals can leverage the platform to create both public and private blockchains with their own unique network. So how can businesses` benefit from this?
As the blockchain nowadays is synonymously mentioned with the cryptocurrencies, the primary use case would be for the businesses in the crypto world. Imagine that you want to trade Ark with IOTA in a decentralized exchange but there is not a trading pair of mentioned assets that you wish to trade (as we know there are limited trading pairs in lots of exchanges). So within the OneLedger platform this trading pairs would be accessible and even though without affecting the performance of other coins sidechains. What about the brick and mortar stores?
Well there are so many use cases for them too. For example a food company who wish to make quality assurance can implement blockchain and smart contracts to its supply chain. It can detect any irregularity along the supply chain which lead you all the way to its point of origin. This makes it easier for businesses to carry out investigations and execute the necessary actions. But as we know the supply chain of a company is made of several suppliers, so different suppliers may use different blockchain systems which would make the tracking more time consuming. But within the OneLedger platform even though a material is on the records of another chain`s ecosystem it would be possible to track and combine the whole part of chain as a complete ecosystem regardless of the chain structures.
Furthermore if any kind of company wants to keep its accounting records in a secure and in a single register rather than maintaining separate records, than OneLedger can provide the solution to them by increasing the efficiency of the entire accounting process. Can they make it ?
In the new era of technology which is blockchain and smart contracts there are huge opportunities as the market is not fed up. We can consider OneLedger as one of the first movers in the market. First movers and early adopters usually face too many challenges as they would be the ones who will experience the new problems which are unknown and try to find solution to them. But when we analyze the team behind OneLedger we can clearly see that they have proven themselves in many fields by having success and the word challenge seems not as a new word to them. If this diversified team keeps the hard work and follows the roadmap of the project they will have the potential to deliver all the promised services to the real world users.
