Now that we’ve announced our founding team and introduced you to our advisory board, it’s time for us to give you a better understanding of the technology driving the Association and the BUILD.5 platform. Over the past 2 years, we’ve focused on rapid delivery and prototyping on our Soonaverse testnet. We’ve leveraged these learnings to create our customer focused BUILD.5 platform, which is now in production and ready to scale with enterprise partners. In this blog post, we delve into the capabilities and advantages of our platform, and how it empowers enterprises to thrive in the coming age of the decentralized web.
Our founding team includes the founder of IOTA and the former IOTA Foundation Market Adoption team, so they know first hand what it’s like to develop a working relationship with multi-nationally recognized enterprise partners. They worked collaboratively with partners to introduce new web3 paradigms, back at a time when the understanding of blockchain was in its most nascent stage. But technology was only one part of achieving success. The most common obstacles to enterprise adoption were all related to the complexity and novel nature of the implementation and support of the blockchain technology itself.
Existing IT departments struggled to integrate, let alone support the connection to web3, despite the benefits that it provided.
The requirement to use Tokens as part of the incoming/outgoing payment workflow was incompatible with how accounting departments and tools are set up.
Fees (Talking about the industry, not with IOTA obviously), network performance, and a lack of interoperability made the barriers to entry foundationally impossible.
Requirements and cost of developing custom solutions from the ground up was a herculean task for even the most dedicated organization.
Fortunately that was then and this is now. Currently more than half (52%) of Fortune 100 companies are in pursuit of crypto, blockchain, or web3 initiatives. Since last year, about 60% of Fortune 100 companies have web3 initiatives that are either in the pre-launch stage or already launched. An impressive 83% of Fortune 500 executives are familiar with cryptocurrency or blockchain and say their companies are familiar with and have current initiatives or are planning to have them. So, the traditional markets have evolved from “Why should we use web3” to “How do we use web3”. Enter BUILD.5.
The BUILD.5 enterprise platform was designed specifically to address the obstacles to mass adoption of decentralized technology by serving as a bridge between web2 and web3. Our platform provides a unified interface, modular features, and underlying infrastructure to seamlessly integrate with existing enterprise systems. Here’s how:The BUILD.5 Console
This is a universal interface that acts as a decentralized dashboard to manage BUILD.5 projects. Features include:
Unlike traditional dApp stores and marketplaces, the BUILD.5 Marketplace is a master planning system, a market of markets that gives ecosystems that leverage the platform the ability to create their own decentralized economies of scale and expandable service capacities. Any flavor of web3 can be integrated through the Marketplace.
iDOS Framework The heart and soul of the BUILD.5 platform is the iDOS Framework. The IOTA Decentralized Operating System or iDOS is a revolutionary suite of production services, tools, and features that can only be found on the IOTA network.
All of this operates on the Layer 1 Blockchains of IOTA (mainnet) and Shimmer (testnet). We will be delving deeper into each of these innovative new technologies to expand your understanding of the game changing qualities of the BUILD.5 Platform over the next few days.
Our founders and advisory board are made up of experts from the most influential companies in the world and web3 entrepreneurs that have operated at the bleeding edge of the industry. We channeled our collective learnings into an operating thesis that evolved into the product vision you see today. After years of experimentation and planning we have the missing link between web2 and web3 that will enable more efficient operations, improved performance, and will open the door to valuable new service categories and economic models.
Our battle tested code base has given us a framework to quickly iterate with our enterprise partners to add new features and demos for partners at the speed of light. The demand is clear as enterprises in markets that stretch across the globe have been engaging with the BUILD.5 team to help execute their strategic plans. We recently produced a custom use case requested by one of our Fortune 100 partners in 5 days! That’s the power of the BUILD.5 platform.
Look out for deep dives into platform features like On Tangle Requests, Mana Station, and innovative use cases which we’ll be revealing in the coming days. For more information on any of the topics here or to inquire about partnering with BUILD.5 please contact us [email protected]