Every time I get to write about new ways Blockchain is improving our lives, I do it with a weird grin on my face, like the one I have on now. It is amazing how all these advancements have taken place in such a short time but such is the demand and speed of acceptance of the technology that it will not be surprising if in the next ten years, virtually every facet of our lives become tokenized/linked to a blockchain(blockchainized).
A very important aspect of blockchain technology is the fact that it reduces the time taken for transactions to be completed, which usually involves the use of smart contracts. Blockchain based solutions also brings a high level of transparency. interoperable, scalable, compliant, and flexible to incorporate newer requirements, and have privacy and security.
These factors mentioned above combined to increase the appeal of this new form of technology that is taking over and the combination of these two mentioned factors, coupled with a forward thinking framework suited for managing and integrating the important parts of businesses brought about ZERP or Zygot ERP
Accoording to Investopedia
Enterprise resource planning (ERP) is a process used by companies to manage and integrate the important parts of their businesses. Many ERP software applications exist to help companies implement resource planning by integrating all of the processes it needs to run a company with a single system. An ERP software system can integrate planning, purchasing inventory, sales, marketing, finance, human resources, and more.
Enterprise Resource Planning is actually a process and while it can be done manually; this process often takes more time to achieve. A lot of businesses actually prefer to perform the process manually because of an inherent problem that could be found if you check Gartner's definition below
Enterprise resource planning (ERP) is defined as the ability to deliver an integrated suite of business applications. ERP tools share a common process and data model, covering broad and deep operational end-to-end processes, such as those found in finance, HR, distribution, manufacturing, service and the supply chain.
ERP applications automate and support a range of administrative and operational business processes across multiple industries, including line of business, customer-facing, administrative and the asset management aspects of an enterprise. However, ERP deployments tend to come at a significant price, and the business benefits are difficult to justify and understand.
The last sentence actually sums up a major challenge for businesses interested in implementing an ERP software; high cost of of implementing and justifiable business benefit. A major facet of running a succesful business is to ensure that every expenditure is somehow going to improve the business in some justifiable way, thus, business owners and CEOs will naturally be hesitant to implement a system that is difficult to justify in business terms.
ZERP is an accronym for ZygotERP or Zygot Enterprise Planning. It is a state of the art blockchain based solution. ZERP is a decentralised software built on EOS blockchain that will automate and support a range of adminstative and operational processes accross multiple industries.
The fact that it is built on EOS blockchain, a community that I might add operates similarly to Steem Blockchain makes for good reading. Here is why EOS blockchain was the chosen one (source)
- EOS uses ‘smart contracts’ technology, allowing strangers to agree in a trust-less environment
- It is designed as a platform for decentralized applications
- EOS being able to process and scale to millions transactions per second - makes it the most scalable blockchain in the industry, being able to handle any real-world application
- NO transaction fees to pay when sending and receiving funds. EOS can achieve instant, free and millions of EOS transactions per second
- EOSIO software is free to use for derivations projects
Among the numerous benefits of using ZERP, what stands it out from the rest is the fact that it fixes the problem of high cost of maintenance/access.
According to an excerpt from an article on workiswellc
You can roughly expect to pay anywhere from $1,500 to $4,000 per concurrent user.
The article further states that
Small-to-mid-sized businesses can expect the cost of software and services combined to range anywhere from $75,000 to $750,000.
Those are some huge numbers being thrown around there. ZERP technology acknowledged this and has brought a far more cost effective solution to the problem through the cutting edge technology that incorporates blockchain technology.
The local token used on the platform is ZYG.
About The Ecosystem
Here is a summary from the FAQ about how ZERP ecosystem will work.
- An ERP engine will be initially designed and programmed by the Vertex team, with high quality documented communication protocol to complement it.
- For this engine various teams can create own intuitive interfaces which would represent an opportunity for the teams to compete and for the clients to choose.*
- There will be a dashboard to set the customer requests and the price they would pay for what they need. Other companies can join to the requests and share the implementation costs.
- To achieve serious commitment by the teams, they are required to buy and ‘stake’ certain number of tokens.
- The dashboard will be an orientation spot where each team’s progress and history of engagements will be visible, as well as team’s ratings for job well done.
The first team that grabs the task (being satisfied by the offered amount) will be the team that needs to complete it.
I am always excited when I see a Decentralised blockchain based solution to any problem. I also noticed that there seems to be inactivity or a lack of marketing and sensitization campaign.
The team behind this project are sitting on a potential goldmine and with the right amount and type of publicity, will find themselves benefiting a great deal from it. The project currently needs an injection of enthusiasm and attention to get off the ground. I am in no doubt that this will grow into something big and I will definitely be keeping my eyes on it.
This is not financial advice, nor a guarantee or promise regarding any result that may be obtained from using the above content. The information provided here is for informational and entertainment purposes only. It should not be considered as financial and/or investment advice. No person should make any kind of financial decision without first consulting their own financial adviser and/or conducting their own research and due diligence.