BLOCKS, the first DAO to be registered as an LLC, is building solutions for traditional companies across all industries to adopt decentralized systems and blockchain to improve governance. According to a statement, the protocol will power blockchain solutions with a goal to build modules that reduce the cost, improve speeds, and scale better to help companies adopt blockchain technology.
As blockchain technology develops into a global phenomenon, companies and corporations are struggling to integrate the new technology due to issues with the cost, complexity, and scalability of blockchains. The top of the issue with integrating blockchain into enterprise-level companies is the “blockchain trilemma” - you can’t achieve all of the three, namely, decentralization, security, and scalability.
Given blockchain is a relatively new technology, it is rarely both quick to implement and customize which leaves most companies opting for the status quo systems rather than adopting the technology. Additionally, blockchains also face issues with scalability. This means large organizations will prefer faster systems over decentralized systems to improve on speeds. Finally, blockchain solutions need to adapt to the changing needs of an organization and grow with the company, a task that most blockchain platforms are struggling to complete.
As a legally registered DAO (Decentralized Autonomous Organization), BLOCKS provides solutions for future business operations built on blockchain helping these companies solve the ‘blockchain trilemma’. The DAO commits its modules and solutions to decentralization, security, transparency, and accountability allowing companies to easily transform their operations onto a blockchain.
Decentralization is at the core of BLOCKS solutions. The DAO streamlines operations and allows companies to build more efficient structures on the blockchain. Companies are also provided with industry-agnostic solutions that are relevant for every industry. BLOCKS leads the migration for enterprises to adopt blockchains by building custom solutions for every client. Finally, these solutions remain open-source, as a core tenant of the DAO structure, to “spur on the mass adoption and migration of enterprises and industries” on the blockchain, the statement read.
BLOCKS provides a “Builders toolbox” including Application Programming Interface (API), Software Development Kits (SPK), and vertical modules to their clients over time to keep up with the organization’s changing developments. Some of the BLOCK Builders are already in testing and are expected to launch in the coming weeks. Finally, companies can also leverage the BLOCKS Network to improve on their transactional activity using behavioral data on behalf of their customers.
Finally, in an effort to build the world’s first smart grid for blockchains, BLOCKS reduces the transactional fees by implementing sidechains and bridges - “saving up to 98% on gas fees”. The team also plans to award grants to entities in aerospace, automotive, defense, government, sports, entertainment, insurance, hospitality, retail, real estate, ticketing, payments, and others to boost the implementation of blockchain across all industries.
BLOCKS Builders are already using the BLOCKS Builder Modules with contracts with the United States Airforce and integrations with publicly traded company HUMBL to reduce minting fees in their NFT platform. Additionally, LATAM business solutions conglomerate, LABS, has outlined a host of MOUs that put BLOCKS verification technology at the forefront of many major LATAM contracts. Curious to get involved? Check out the BLOCKS Discord and see what all the hype is about.