Blockchain brings the potential of unparalleled accountability to business and our personal lives. Accountability, whether in dealings with trading partners, sellers on the internet, or regulatory accountability; is a cornerstone of good business and often a path to business growth and prosperity. Where there is trust and accountability, there is a richer more beneficial environment for all participants. The excitement caused by blockchain is its ability to bring accountability to areas where previously accountability was thought impossible. In a climate of trust and accountability engendered by blockchain new opportunities may be found, even in domains that have more gradual growth or slower innovation growth rates.
For all its tremendous potential, to date blockchain applications have suffered from a lack of agility with long development cycles along with knowledge requirements that make the Total Cost Of Ownership (TCO) high and therefore, keep the advantages of blockchain out of reach of all but the largest players. Lokahi lowers that TCO of blockchain up to 90% by:
Organizations require agility and blockchain and IoT applications are no exception. Lokahi is a Rapid Application Development (RAD) solution that drastically cuts the time to market for applications that use blockchain. Lokahi components allow sophisticated applications to be assembled in minutes using Ferdon’s proprietary visual language. Sometimes there will be a need for new components. Ferdon builds custom components by using Lokahi works with customers and partners to remotely deliver just-in-time custom components.
Lokahi comes with sets of Out-Of-Box components. Each component is classified as a “domain level” or “component level”. Domain levels, as the name suggests, are high level components that abstract the underlying technologies and model business concepts and are the primary focus of users of Lokahi.
Domain components are high level abstractions of business concepts. Lokahi contains out-of-box components for several domains including Law, IOT, Data Management, Intellectual Property management, Shipping , Retail, etc
System components are the building blocks that are used to assemble the domain components. System components allow custom domain components to be assembled quickly to avoid delays in time to market. Lokahi comes with a stock of system components that model Ethereum, Hyperledger Fabric, which model basic behaviors including, transfer of ownership, voting, asset tracking, IoT integration, event management, data storage and management etc
Logical components are the lowest level components and are the building blocks for System Components. Logical components are built by Ferdon engineers with specialized knowledge of blockchain and IoT. Logical Components can be thought of as small pieces of logic that is specific to a blockchain.
Lokahi not only reduces the TOC for blockchain but also increases its relevance to the enterprise by extending the so called “walled garden” of blockchain to applications not running on the blockchain - often called “off-chain” applications - so they can participate in collaborative systems that are trustable and accountable. Using Lokahi, a system that uses a combination of blockchain, IoT, and web services can be built such that each component, on or off the blockchain, can warranty the validity of the transaction in which it is participating and be itself a trusted component and eligible to participate in accountable transactions