LTO Network Founders in First Interview: Blockchain Solves Startup’s Trust Issues
One of the crypto and blockchain industry’s most prepared, diligent interviewers – Brad Laurie (more commonly known as BlockchainBrad) – today uploaded an hour-long interview with the two co-founders of LTO Network, a four-year-old Dutch startup’s spin-off project specializing in blockchain-enabled decentralized workflow automation.
The interview – which marked the first significant coverage of LTO Network by any of the well-established YouTubers in the space – saw Brad explore various elements of LTO Network with both Rick Schmitz (CEO) and Arnold Daniels (Lead Architect).
The two co-founders started by explaining to Brad what LTO – short for Liquid Task Orchestration – means by the term ‘decentralized workflow automation’. After citing the trust-related issues that commonly thwart collaborative efforts between two discrete (yet potentially synergistic) organizations, Arnold explained how LTO Network is:
Creating a way where all the parties can implement and automate their part, and use the blockchain to work on a single process.”
Having specialized in workflow engines since 2014 (i.e., when they co-founded LegalThings, a software company automating, digitizing and modernizing the legal industry), Schmitz and Daniels realized that, as the trusted facilitator of their clients’ processes, LegalThings’ solution would never be able to cater for those large enterprises and government institutions who prioritize data ownership and integrity above all else.
Schmitz detailed LTO Network’s value-adding pilot project they administered in collaboration with Dutch and Belgian government agencies. He also made reference to a recent trip to Rotterdam, whereby he presented to German authorities after they contacted LTO Network eager to learn about the pilot, which is aimed at improving waste management processes.
— LTO Network (@LTOnetwork) November 12, 2018
For those interested in learning more about LTO Network, we encourage you to scroll down and watch the entire video. In it, you will hear the co-founders elaborate on some of LTO Network’s novelties not discussed in this article. Such LTO Network-specific features include a variant of the widely used proof-of-stake Sybil control mechanism dubbed ‘Leased Proof of Importance (LPoI)’, as well as a dynamic token unlock model enabled by a so-called ‘bridge troll’.