Company Name: cloudyBoss
Announcement Date: 31/05/2018
Announcement Category: Awards/recognition
SYDNEY, AUSTRALIA, 31 May 2018
cloudyBoss has been selected from hundreds of International companies, as one of 15 to participate in the most desirable and cutting edge fintech (financial technology) event in Europe, this June.
Titled, Deep Dive Week (DDWBaltic), the event takes place in the Baltics – the interconnected region that includes Lithuania, Latvia and Estonia – all leaders in advancing digital infrastructure.
The focus will be an initiative by the Bank of Lithuania, the country’s central bank, which will launch a blockchain fintech sandbox platform-service. cloudyBoss and the other selected companies will be able to develop and test the most progressive fin-tech blockchain innovations in the regulatory and technological sandbox codenamed LBChain.
This initiative will help cloudyBoss, gain new knowledge, carry out blockchain technology research, adapting and testing its technology-based services in the activities of financial institutions. The Bank of Lithuania would provide a technical platform and consultations on applicable regulations.
cloudyBoss was selected because of its in-built Blockchain Distributed Ledger Technology (DLT) which is at the core of its pioneering Expanded Enterprise Resource Platform (ERP-X). Blockchain and DLT have many adaptation possibilities in those areas of financial operations where high data transmission security and credibility is required.
The cloudyBoss platform allows code-less development of vertical applications built around its Distributed Ledger Technology (DLT) called SKYE.
SKYE enables cloudyBoss clients to create any number of rings/clusters, each scalable to an unlimited number of permissioned nodes, all in seconds, no technical skills required. In fact, it takes no longer than a minute to create a private block-chained secure cluster which can be used to exchange data securely within any group - be it in two organisations or between multiple organisations.
Of particular interest to the Bank of Lithuania will be COBRA, the vertical banking solution that also utilises the cloudyBoss code-less DLT platform. COBRA (cloudyBoss Omni-currency Banking Rotation Account) is an intelligent multi-currency banking solution that is integrated into the cloudyBoss ERP-X and available to all cloudyBoss users.
COBRA is natively multi-currency, allowing businesses to have bank accounts in all the countries where they trade. As an entity’s funds move between banks, COBRA’s intuitive foreign exchange function (using AnIma, the cloudyBoss Artificial Intelligence engine) also finds the most favourable rates, creating ongoing passive income.
“Blockchain technology has a tremendous adaptation potential for innovations conducive to consumers in both the financial and public sectors. Giving room to regulated development of this technology would provide our country with particularly favourable opportunities for investment and attraction of talents as well as acceleration of advanced innovations,” says Marius Jurgilas, Member of the Board of the Bank of Lithuania.
As part of being selected, cloudyBoss will also participate in Block Forum (14 – 17 June) – the most exclusive gathering of Blockchain and crypto thought-leaders in northeast Europe.
CEO, Lou Schillaci commented on the upcoming opportunity, saying: “We are delighted to have been recognised for our innovation and we look forward to presenting our technology to the fintech community and in particular, some of the world’s most technologically advanced banks.
“It comes at the perfect time as we are looking to expand our partner network and in the bigger picture, for funding that will enable our next phase of development.”
DDWBaltic will be held in Vilnius, the capital of Lithuania from 12 – 15 June.
cloudyBoss Pty Ltd is a privately owned, globally distributed technology organisation backed by IBM through its Global Entrepreneurs Program. cloudyBoss' technology challenges the way we work and frees organisations from old world constraints: it does this by equipping all manner of businesses with tools that allow them to thrive in the new global order.
cloudyBoss baseline product, NEXT+, a cloud-based Extended Enterprise Resource Platform (ERP-X) encapsulates Artificial Intelligence, Machine Learning, Internet of Things, Enterprise Blockchain, Distributed Ledger Technology and scale-neutral data nodes. Built and continuously evolving using agile software methodology, cloudyBoss products solve today's complex business challenges of disruption, automation, security and productivity gaps by equipping even the smallest business with the tools to compete globally.
Announcement URL: http://www.cloudyboss.eu/news/press-releases/cloudyboss-selected-to-present-at-major-european-blockchain-event/
cloudyBoss is an award-winning developer of enterprise software that manages business operations and processes for 21st-century entities of all sizes. Apart from software, cloudyBoss’ innovations also extend to business transformation programs and internal business processes such as the APEASE which encapsulates the ‘royalty-based’ relationship between cloudyBoss and parties to which it is connected.
Go to Company Profile for: cloudyBoss
Announcement Contact: [email protected]