Jeroen van Megchelen, CTO at Ledger Leopard, sat down with The Block to discuss enterprise blockchain solutions, accessibility to Web3, and Ethereum.
The Block: How would you introduce Ledger Leopard to our readers?
Jeroen van Megchelen: Ledger Leopard is a Web3 company designed to make businesses future-proof. It was created out of a lifelong passion for the next evolution of technology. Ever since 2017, we’ve been extending our experience in the area of blockchain, and our goal is to share and implement our skillset to help businesses with their digital transformation.
I already hear you thinking: what’s the connection with a leopard? The leopard is our spirit animal as it is known for being the greatest allrounder among big cats. This is a personality trait we identify ourselves with in the blockchain industry, as our solutions can be applied to any sort of problem or business.
TB: Vitalik Buterin’s “blockchain trilemma” dictates that a blockchain can only truly provide two of three key solutions: decentralisation, scalability, or security. Which two benefits does Ledger Leopard focus on, or have they solved the trilemma?
JM: Since it is a trilemma it is not solvable. What we try to do is make the best choices when developing a solution and make it suitable for our clients and their business processes.
Most of our clients are future minded companies from different fields than ours. We work with financial service providers, healthcare, and identity solutions just to name a few.
We often use a permissioned blockchain with a Proof of Authority (PoA) consensus mechanism. Advantages of this include low energy consumption, higher transaction speeds and numbers, and insightful control over access and functionality by the identified owners of the network.
TB: What’s an example of a recent success story at Ledger Leopard?
JM: Together with RTI Blockchain, we recently built a platform to solve ongoing problems surrounding the administration of reusable transport items (RTIs) such as crates, pallets, and containers. The platform shortens the administration process and removes unnecessary costs related to inefficiency and misunderstandings.
We also recently developed Identry, our own self-sovereign identity (SSI) solution, which makes digital trust easy to verify. It enables multiple use cases surrounding users’ verifiable credentials while still maintaining levels of data protection and tracking necessary for enterprise compliance.
It protects the data provider by allowing them to store their documents locally and release data in real-time. There is no centralised infrastructure that can be accessed internally or hacked externally, which dramatically reduces the risks associated with data requests, storage, and provision.
The value of SSI solutions are still highly underrated. If you would like a clear explanation of their potential for your business, you can always contact us for a workshop,
TB: Providing accessibility to blockchain is a critical step for further Web3 adoption. How are Ledger Leopard making blockchain more accessible for enterprises?
JM: A big part of making blockchain technology more accessible to enterprises is narrowing the knowledge gap so we offer a range of C-level educational workshops geared towards different industries.
After teaching clients the big picture we dive into an interactive session where we combine their knowledge of their field with our knowledge of blockchain technologies. We usually find clients are interested in working with us to reduce costs, improve efficiency, or improve their customer experience. We then get to work so that this identified potential can become a clickable demo.
TB: Do you think Ethereum can maintain its first-mover advantage after it transitions to proof-of-stake (PoS) or are other networks now too far ahead in terms of technology?
JM: While we don’t have a crystal ball to predict the future, lowering the energy consumption by 99.95%, and therefore becoming more ecofriendly, will probably make Ethereum more attractive to enterprises.
A big advantage of Ethereum is that it has defined guidelines and specifications to accelerate enterprise blockchain adoption. The specifications of Enterprise Ethereum provide businesses with the ability to leverage both Ethereum-based private chains (that we often use) and the public main-net.
TB: How do you anticipate the blockchain space will evolve over the next year or two?
JM: Let’s face it, Web3 is hyped. Would I say over-hyped? Maybe, maybe not, not here at least. Fact is we are at the dawn of a new technology that will considerably change the way enterprises and people do things.
We are seeing more and more adoption from big institutions – both venture capital and insurers – entering the market. I think that through research and experimentation they are becoming aware of various protocols’ potential.
While we strongly believe in Web3 and its potential, we are also very conscious of identified potential that is not feasible or impractical to put together. We strongly recommend companies work with partners experienced in the technology field that understand the legal burdens associated with developing new tech solutions.
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