With the blockchain technology still in its nascent stages, the extent of its potential is still unknown and unexplored. Analysts believe that some fundamental challenges such as energy efficiency and scalability – yet to be overcome has restricted blockchain’s touted transformative potential. Heeding to this challenge, Proxeus has taken a very pragmatic approach towards blockchain — aiming to bridge the gap between the old world of linear workflow processes and the alternative reality where everything that can be decentralized.
The organization is focused on enabling blockchain to be used to optimize single processes and workflows — as a first step towards greater transformations. The team’s aim for their platform is to become ‘the WordPress of blockchain’. The technology is open source, and the platform will be made freely available for anyone to use. Back in February Proxeus raised $25M, via an ICO for their XES token, to community fund this vision.
We have a framework which allows anyone to come and use building blocks to create workflows and at the end blockchain apps. But — just like WordPress is a website creation tool — we don’t intend to go down one level in terms of offering products ourselves and going directly into the market.
– Antoine Verdon, CoFounder, Proxeus
Yet another of of the goals is a connection for SAP systems. The team has been developing the platform for 2.5 years, at this stage. They’re now beta-testing and running their first trials. And Verdon is hopeful the first live applications will be running on the platform by the end of the year, once they come out with a public product.