Currently, the world is filled with a number of emerging technologies and the blockchain technology is arguably the exciting one to deal with. It has abundantly associated with cryptocurrencies with the underlying technology for the distributed ledger as it has already received attention from a number of industries. iOlite is the nonprofit blockchain network working as the bridge to imitate the gaps in language barriers.

For integrating the solutions under iOlite, it needs to have an idea regarding the complicated landscape analysis of SWOT that consists of Strengths, Weaknesses, Opportunities, and Threats to the blockchain. But first, it is important to know about the strengths and opportunities that lie in iOlite system platform.

Strengths

For iOlite the strength lies in these following components:

• Save Time and Money: As blockchain is a tool that comes with operational efficiency, iOlite improvises that quality in their system where assets can be transparently stored and easily shares across the organizations. Inefficient processes can be time-consuming and costly where blockchain cuts these in a cost-efficient manner with intensive bureaucratic processes.

• Transparency: Blockchain ensures the tamper-proof data storage so that the frauds never get any chance for fraudulent activity and opportunities. iOlite also guarantees proper solution of the transaction for tampering and deleting the post-execution. The changes of blockchain will be publicly visible.

• Durability: Being a central regulator, the blockchain networks do not have any point to be failure centrally. For that, iOlite imposes central regulator, the administration has got all the power for changing all the information as desired. This will ultimately avoid the preferences which may lead to fraudulent activities. Besides, the resistant and different types of malicious attacks will try to alter data to be in the control.

• User Empowerment: The party of users in iOlite platform will control directly to the information and transactional history because the users may need to take back the control over the data and decide the authority of access their personal information. In this, LinkedIn might be the good source for the closer account for losing the data, connections, reputations, preferences, and interactions to generate. Even some bigger companies like Google and Facebook will own their data by creating probable profiles by putting all the relevant information and trust them with personal data.

Opportunities

iOlite emphasizes in creating newer opportunities facilitating the blockchain platform for everyone. The systems will intake mass adoption for technologies with the concept having an easy grasp. iOlite platform will eventually understand the smart contracts with the power allowing new business models with the shortage of smart contract developers as developing this may put higher in costs.

The businesses and the users will have equal power to create smart contracts through the Decentralized Apps where iOlite will develop the engine creating smart contracts using the exiting programming language extending natural language as inputs. iOlite system may also need to learn about constructing and optimizing smart contract modules to build blocks for subsequent re-use with the result of environment available of being efficient enough creating and deploying the major cost savings for the partners.

The mass adoption of blockchain technologies can create the smart contracts with the experience of all the good forms of reviews from the users of iOlite platform. Therefore, it provides tools with the benefits of developing non-tech persons as referred to the engine enabling the natural language mostly the English and Russian.

Website : https://iolite.io/
Twitter page : https://twitter.com/iOliteLabs
Whitepaper : https://iolite.io/documentation
Telegram : https://t.me/iolite