In an industry first, former Microsoft and Google chief architect Ajay Bhandari is launching Cros, an Ethereum layer-two protocol and a framework for collaboration between organizations using blockchain smart contracts.
Cros sets out to empower metaverses, nonfungible tokens (NFT), decentralized finance (DeFi) protocols, gaming platforms and more to execute their business value chains with full traceability, and in a trustless, tamper-proof manner, with advanced on- and off-ramp integrations to create an interconnected blockchain economy.
It combines the best of Ethereum and sovereign blockchains into a pioneering cross-organization system, solving pain points associated with blockchains, such as high gas fees and slow speeds, without sacrificing security. The Cros platform will allow organizations to discover liquidity, exchange assets (fiat, crypto, services and goods), and orchestrate value chains among them by leveraging on-chain and off-chain verifiable trust.
The challenges Cros is addressing
Cross-organization collaboration among metaverses, NFTs, DeFi protocols, gaming platforms and other crypto entities is either nonexistent or inefficient. Flawed compliance processes are riddled with conflicts of interest and regular scandals, and there are no clear standards or processes for the exchange of assets and liquidity discovery between metaverses, DeFi protocols, gaming and NFT platforms. This results in a process that 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 this involves a 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 among the various network nodes.
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 a typical organization today is run on centralized systems, it’s difficult to come to a consensus on building, running and operating a cross-organization collaboration solution while addressing ownership, trust and control issues. Cros blockchain technology will be the enabler of such a protocol shift toward cooperative competition.
“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,” said Bhandari, founder of Cros.
Cros will develop more utility for metaverses, NFTs and DeFi
Metaverses, DeFi protocols and NFT platforms are in a dire need of a decentralized platform that connects them and securely executes their business value chains and also makes sure business is processing per agreements while also preserving their data and resources. Cros will allow them to discover liquidity and exchange assets. It will also orchestrate value chains between them by leveraging on-chain and off-chain verifiable trust.
The Cros token powers the Cros ecosystem, fueling the creation of a transactional economy among buyers and sellers, allowing users to earn value and to spend 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 truth source to all participants, affording them full traceability.
Cros connects decentralized applications, decentralized autonomous organizations and other organizations to collaborate and securely execute their business process without intermediaries. It facilitates their integration with IT infrastructure and Cloud enterprise resource planning while preserving data guardianship and maintaining control.
Who is building Cros?
Behind Cros is a team of pioneers with in-depth industry expertise from Google, Microsoft, Oracle, Cisco, Deloitte and Ernst & Young that have united to create a fully functional and user-friendly decentralized web. By redefining the workings of the crypto space, Cros is prepared to take the lead on orchestrating value chains and facilitating cross-organization collaboration to take blockchain technology to the next level.