Forward Protocol Whitepaper
by Karnika E. Yashwant (Mr. KEY) and Mitch Rankin
Blockchain was a priority topic at Davos; a World Economic Forum survey suggested that 10 percent of global GDP will be stored on blockchain by 2027. Multiple governments have published reports on the potential implications of blockchain, and the past two years alone have seen more than half a million new publications and 3.7 million Google search results for blockchain - McKinsey
The adoption of blockchain into companies' architecture has the potential to dramatically reshape the capital markets industry, with a significant impact on the way businesses model themselves, manage risks, save cost and capital. However, the revolution will not happen overnight due to the high barrier to entry into this sector.
- 1.The capital expenditure needed to develop workable blockchain solutions is insurmountable for most companies.
- 2.The technical knowledge and development expertise needed to build an effective solution is limited and would take too long to implement.
These limitations raise two questions that need to be answered for industry-wide adoption to occur:
- 1.How can companies reduce the capital costs of developing a blockchain application?
- 2.How can companies reduce the time needed to develop and implement a market-ready version of the technology?
Forward Protocol solves the challenges highlighted above by:
- 1.Lowering the barrier to entry across verticals through a B2B approach that connects ideas, companies, and markets with open source, fully customizable, no-code blockchain smart contract tools within Forward Factory to make blockchain adoption seamless.
- 2.Forward Factory makes blockchain adoption an unambiguous and straightforward process for organizations. Decide. Deploy. Test. Evaluate. No hidden cost involved.
Forward Protocol employs an easy-to-use WordPress-like model to facilitate a no-code environment that users can interact with even without technical knowledge.
The modular architecture and ready-to-deploy fully customizable smart contracts, dApps, blockchains and subnets are designed for anyone to adopt blockchain technology, without any risk. The template-driven design allows any organization to choose the module suited to their platform and modify it to be functional to their use case.
Forward Protocol will be fully decentralized, maintaining independence from any third-party influence.