We mentioned in November that we had been accepted in the Creative Destructive Lab Program for Blockchain run by Toronto University. Today, we would like to update you that after several rounds we will not continue to the final phase of the program.
Our acceptance into the program was due to strong interest in our unique Smart Vault technology that provides a decentralized solution for applications to share and sell access to data using smart contract access controls. The program was interested in the further development of a product or service that uses the Smart Vault, where sharing of information in a peer-to-peer manner would challenge traditional business models that are based on centralized control, delivery and production of products and services.
However, after several rounds where we presented prototypes and solutions that included a Decentralized Personal Profile, Protected Email Control and Micro-Licensed Content, there not sufficient evidence that a compelling application with immediate value could be delivered in the time frame of the program.
Although this is a setback for the team, we will continue to further develop this work and will be releasing new versions of the Lightstreams platform to support the ideas and concepts developed during the program.
Finally, it was a positive experience being part of the CDL program where our ideas where both challenged and validated, and where we had the opportunity to build relationships with industry experts, leaders and other innovative blockchain teams.