In the Crypto Insider’s Discord environment, unique crypto projects get their own channel. Here, our premium members can ask questions directly to the people behind these projects, and the projects can be the first to share the latest news with our members. Today the Dutch LTO Network (LTO) will be discussed!
What is LTO Network?
To build a platform for next gen You can leave blockchain apps focused on B2B, identities, media and real estate to this project. LTO network (LTO) is an award-winning hybrid blockchain that can be used to secure, exchange and verify sensitive data, digital assets and identities. Today we talk to community manager N0rthstar about LTO.
Who are you? What were you doing before diving into crypto?
“Hi! People know me by my pseudonym N0rthstar. I work in the IT and non-profit sector and I’ve been in crypto since 2017. Also, I’m mainly interested in building and I’m fascinated by technical analysis, although I often don’t do much with the latter!”
How did you end up at LTO? How long have you been involved?
“LTO Network caught my eye at the beginning of 2018, a good year for the official ICO. The project had won a ‘hackathon’ organized by the Dutch Ministry of Justice and mentioned in the newspapers. The practical approach, the ‘hybrid approach’ whereby General Data Protection Regulation (GDPR) is not an obstacle, and the focus on B2B appealed to me as an investment opportunity.
In recent years, as an active member of the community, I have worked a lot with the official team. I did it out of interest in building, and I helped increase the knowledge of the LTO Network as much as possible. It is therefore great to see that the scope of the LTO Network has only expanded over the years, so that not only B2B, but also B2G, B2C and C2C have their part to play.”
What problem does LTO Network solve?
“The LTO Network is a ‘permissionless layer-1 blockchain’ available for anyone to build upon. At its core, the LTO Network currently focuses on identity, privacy and ownership. In addition, practicalities such as decentralized workflows, breaking through data silos and cost-effective use of blockchain part of the options available.
The LTO Network runs on a Proof of Stake (PoS) protocol to be energy efficient and make it easy to set up nodes. The hybrid approach makes it officially a private permissionless blockchain, which is quite a unique setup in the crypto world. It allows companies to try to adopt blockchain solutions while still complying with the privacy protection laws that have been created around the world in recent years.
The LTO Network has the ambition to become a ‘cross-chain base layer protocol’ with their Decentralized Identities approach. KYC for DeFi (with Proofi) and merging real (business) problems with the approach crypto can offer in a decentralized way are just some of the examples. The LTO Network is constantly breaking down the walls between crypto and the real world.”
Who are the founders and how does their experience fit the project?
Rick Schmitz (CEO): “Formerly employed at PwC. Rick is a true entrepreneur and has created companies such as Firm24 and Legalthings. He likes to network, explore opportunities and build new things that are groundbreaking.”
Martijn Migchelsen (CFO): “Like Rick, Martijn has a history at PwC. He is the co-founder of Firm24 (and still actively involved in it). Martijn helps the LTO Network manage their budgets efficiently so that it has enough firepower to continue whether it is a bull or bear market. “
Arnold Daniels (principal architect): “Arnold is a senior developer with many years of experience in various programming languages and is a strong supporter of decentralized solutions.”
How do you differentiate yourself from the competition?
“LTO Network differs from other blockchains by the unique approach of a double-layer blockchain (private permissionless blockchain) and activities generated on the chain by processes and solutions that go beyond the (limited) crypto world.”
Why is blockchain so important to your project?
“LTO Network focuses, among other things, on web3 solutions around the decentralized identity and self-sovereign identity approach. Blockchain is a crucial part of this. In addition, LTO is very aware that not all situations require a blockchain solution. They tackle the situations where blockchain actually contributes to the solution because the interests of different parties do not allow a central solution.
LTO Network also looks closely at developments in crypto and focuses on already presented solutions that can be improved. An example of this is the new ‘ownables’ that LTO is developing. Ownables puts the digital ownership of digital assets entirely in the hands of the owner. It goes a step further than IPFS-enabled NFTs by letting the asset owner decide where they want to keep their digital asset.”
How far along is the development of LTO?
“LTO Network has now completed several projects and continues to evolve in identity, privacy and ownership. The original white paper and decentralized identities are already finished, e.g. The previously mentioned belongingsor NFT 2.0, we are still working hard to complete.
Our current focus is on further expanding decentralized identity solutions and testing and officially releasing properties.
The LTO Network has a lot to offer; it’s an open and strong community that helps people move forward, and I think it has a great future ahead of it. With us you can create a community node with an APY of 17% to secure the network.
In addition, you can of course also build on the LTO network; maybe you’re a content creator looking for the “next best thing” in NFT-land and looking to launch your own real estate project.”
Want to ask questions directly to the people behind your favorite project?
Would you like to learn more about LTO, our other partner projects and receive exclusive news? Then take a look at our Discord community where N0rthstar can be contacted for any questions about the project!
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