Gravity Business Framework will be aimed at use in off-the-shelf software and next-generation blockchain applications that automate and optimize business processes for SME.
HONG KONG, June 28, 2018 - (ACN Newswire) - Gravity Solutions, the blockchain research and development firm, has published preliminary documentation for its blockchain-based framework that is designed specifically for small and medium-sized enterprises (SMEs). According to International Data Corporation, a renowned market intelligence firm, global spending on enterprise-grade, blockchain-based solutions will cross the $2 billion mark by the end of this year, and is expected to reach up to $9 billion by 2021. Aimed at users of off-the-shelf software and next-generation blockchain applications, the Gravity Business Framework will introduce a suite of innovative payment and workflow management tools that will help SMEs optimize their business and find new growth opportunities.
CEO and Founder of Gravity Solutions, Yury Parsamov, said, "The tech-savviness of the average SME is now vital to its future. However, few of today's SaaS solutions can be used as turnkey products to serve the wide-ranging needs of small and medium-sized enterprises. In fact, the SaaS industry has yet to fully capitalize on the emergence of blockchain and to open the technology to all types of businesses, beyond the tech giants, enthusiasts, and early adopters. It's evident that SMEs lack blockchain-related expertise, cannot afford custom-tailored solutions, and have no time to handle the legal aspects of blockchain-based systems and smart contracts use. The Gravity Business Framework will address these issues and allow for hassle-free off-the-shelf experience."
Gravity Business Framework will be built on three pillars: technical, legal, and financial. For the technical architecture of the framework, Gravity Solutions will introduce a set of blockchain-based modules and components, including data storage, authorization, payments, user tokens, voting, application programming interface, and more. The modules will include, in particular, the DAC/DAO module that will allow for decentralized autonomous companies and organizations. The legal part of the framework will be based on Extended Contracts that are both human and machine-readable and will be powered by Ricardian Contracts, Digital Signatures, and decentralized infrastructure.
In turn, the financial pillar of the framework will be represented by visionary payment gateways, stable coins and next-generation banking solutions that will introduce the non-crypto world to the benefits of utilizing the blockchain technology, blockchain-based solutions, tools and services.
Gravity Solutions aims to create an ecosystem of partners, specializing in the implementation of SaaS solutions and legal services for SMEs, and to build a community of developers, lawyers, business developers, and entrepreneurs. Serving as the foundation stone, the Gravity protocol will power essential components of the ecosystem, including the Gravity Business Framework. According to the team, it will simplify the creation of blockchain-based products for all types of SMEs by supporting universal ready-to-use solutions and templates. To date, the team has concluded the testing phase and is now working towards several other milestones planned for 2018: desktop and mobile apps, custom tokens, decentralized exchange, and interplanetary file system storage.
"Over the first few months of testing, we have gained some extremely valuable feedback and rolled out significant but targeted updates to the framework. The focus is now on further enhancing the technology behind it and gradually moving toward the mainstream adoption," added Parsamov.
For more information about Gravity please visit https://www.gravity.io/
High-res photo: https://goo.gl/dEMftS
About Gravity Solutions
Gravity Solutions is a blockchain research and development firm that aims to create a new, flexible, and efficient blockchain-based framework for all types of SMEs. The framework will powered by the firm's visionary protocol, Gravity. The Gravity protocol is based on the Graphene, an open-source blockchain technology, the Delegated Proof-of-Importance (DPoI) consensus algorithm, and a network activity index, which ensures fair-minded distribution of incentives for the community around the Gravity Business Framework. To date, the R&D firm has attracted thousands of participants during its public testnet phase, and is now working toward introducing new components and improving the technology behind all its products.
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