PR: VPLedger launches unique blockchain ecosystem for business

VP Ledger

The ‘enterprise first’, blockchain will provide powerful tools and require KYC as standard, enabling businesses to leverage decentralised technologies within a clear legal and regulatory framework.

Copenhagen, 4th of September 2019 marks, VPLedger, a new blockchain solution built from the ground up for the needs of global SMEs, is available to pre-order for Early Access membership from today.

The platform represents a collection of technologies and approaches that seek to mitigate the concerns that businesses have about integrating blockchain into their processes. In particular, it is structured to enable operation within a robust legal framework, avoiding the regulatory uncertainties inherent in open blockchain solutions.

The risks of conventional blockchain

First- and second-generation blockchains are poorly suited to the demands of global business — for example, the ability to support the transaction volumes of centralised platforms. Bitcoin can handle around 7 transactions per second, while Visa claims an average of 1,700 tps with a theoretical peak of 65,000 tps.

Moreover, businesses have been discouraged from using open blockchain solutions due to a range of risks:

● Regulatory risk. With uncertain regulatory status in many jurisdictions, businesses fear their projects will be impacted by unfavourable decisions by lawmakers.

● Infrastructure risk. Open blockchains are plagued by denial of service attacks, lack of control over transaction fees, and potentially a range of malicious attacks.

● Counterparty risk. If the failure of a blockchain platform impacts a business, there may be no obvious party to turn to for redress — and no clear legal mechanism to do so.

● Reputational risk. Open blockchains have no restrictions on use and have been employed for various criminal purposes. Businesses do not want to be associated with this kind of activity through their use of the same platforms.

Meeting business needs

VPLedger’s ‘enterprise first’ approach encompasses both technology and regulation. The Graphene-based platform is capable of up to 100,000 transactions per second and offers a wide range of powerful tools, from token creation facilities to smart contracts and an Ethereum-based virtual machine. Pending regulatory approval, further services planned include a decentralised currency exchange and freelancer marketplace. This functionality is accessed using Vimples (VPL), a unified means of payment for every product and service on VPLedger. Critically, every user will need to undergo KYC as a condition of access to the platform and the network will be run by a limited number of KYC-approved validators.

‘VPLedger is a new kind of Software-as-a-Service platform,’ explains Ronny Boesing, CEO of OpenLedger ApS — the company behind the new technology and a long-term contributor to the blockchain sector. ‘We have taken decisions that enable businesses to leverage the advantages of blockchain within a clear legal framework and full regulatory compliance. The architecture of the network means criminal activity can be identified and addressed immediately, while maintaining the benefits of a global network and single market within the VPLedger ecosystem.’

Early Access to the platform is currently available for a limited number of pre-order sign-ups, with limited Lifetime membership offered until Global Launch in January 2020.

For more information or to sign up for Early Access, visit

www.VPLedger.com.

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