Cros: Ethereum Layer 2 connecting the worlds of DeFi, NFTs, and MetaVerses
In an industry first, former Microsoft and Google Chief Architect Ajay Bhandari is launching Cros, an Ethereum layer 2 protocol and a framework for collaboration between organizations using blockchain smart contracts.
Cros sets out to empower DeFi protocols, NFT platforms, Gaming platforms, MetaVerses, and more to execute their business value chains with full traceability, and in a trustless, tamper-proof manner, with advanced on/off ramp integrations to create an interconnected blockchains economy.
Cros combines the best of Ethereum and sovereign blockchains into a pioneering cross-org system. Solving pain points associated with Blockchains, like high gas fees and slow speeds, without sacrificing on security. The Cros platform will allow organizations to discover liquidity, exchange assets (fiat, crypto, services, goods), and orchestrate value chains between them by leveraging on-chain/off-chain verifiable trust.
The challenges Cros is solving
Cross-Org collaboration between Defi protocols, NFT platforms, Metaverses, and other Crypto entities is either nonexistent or inefficient, with flawed compliance processes that are riddled with conflicts of interests and regular scandals, and no clear standards or processes for the exchange of assets and liquidity discovery between metaverses, Defi protocols, Gaming, and NFT platforms. These result in a process which is expensive, and doesn’t guarantee privacy. Cros is the answer to all of these problems.
The traditional view of markets and organizations relies on a sequential thinking process, whether it is business value chain or supply chain. Businesses are slowly realizing that they are part of a larger network, not merely a link in a chain. This necessitates an ecosystem approach to resource planning, business process execution, and collaboration between the various nodes of the network.
This paradigm shift will be based on a completely revised definition of Ownership, Control, and Trust — the hallmarks of the operation model of business. As the typical organization today is run on centralized systems, it is difficult to come to a consensus on building, running, and operating a cross-organization collaboration solution while addressing the ownership, trust, and control issues. Cros blockchain technology will be the enabler of such a paradigm shift towards cooperative competition, or Coopetition.
“The solution we envision, is an innovative cross-org collaboration and integration platform; a decentralized integration platform, into which organizations can collaborate and securely execute their business value chains without the need for trusted intermediaries,” says Ajay, Cros’ visionary, who founded Cros alongside his co-founders Hussein Abdelkarim, ex-Rocket Internet Founder CEO and IM Shousha, ex-Deloitte and PwC Veteran Consultant.
Cros to develop more utility for Defi and NFTs
Defi protocols and NFT platforms are in a dire need for a decentralized platform that connects them and securely executes their business value chains, and makes sure the business is processing as per agreement, while also preserving their data and resources. Cros will enable them to discover liquidity, exchange assets, and orchestrate value chains between them by leveraging on-chain/off-chain verifiable trust. Transactional economy; The CROS token powers the Cros ecosystem, fuelling the creation of a transactional economy across buyers and sellers, allowing users to earn value and to spend it on services that are internal to the Cros ecosystem.
How will the process work?
Cros translates existing collaborative process models to smart contracts and ensures that the process is secure and is executed correctly by validators. Smart contracts check compliance before changing the state of a process, and provide a single source of truth to all participants — affording them with full traceability. Innovative blockchain platform; Cros connects dApps, DAOs and other organizations to collaborate and securely execute their business process without trusted intermediaries. Empowering them to integrate with their IT infrastructure and Cloud ERPs, while preserving data guardianship and maintaining control.
Who is building Cros?
Behind Cros is a team of pioneers with deep industry expertise from Google, Microsoft, Oracle, Cisco, Deloitte, and EY that have banded together to facilitate a fully functional and user-friendly decentralized web. By redefining the modus operandi of the crypto space, Cros is prepared to take the lead on orchestrating value chains and facilitating cross-org collaboration to take the blockchain technology to the next level.