Cros Is Here to Connect Organizations on Blockchain Smart contracts
In the midst of hypothetical decentralized solutions, Cros is a real world solution for real business problems. Let’s expand on that - Cros is a cross-organizational platform designed to facilitate business process execution on a “ownership, trust, and control” foundation.
Cros is a platform with a single source of truth across the participants, making full traceability available for auditors and decision-makers in real-time. Utilizing Cros’ advanced technology, organizations can collaborate and securely execute their business processes in a tamper proof manner without the need for trusted intermediaries. In efforts to leap towards realized mass adoption of blockchain technologies, Cros Network is launching to streamline collaboration between organizations using smart contracts on an independent blockchain.
While the global B2B e-commerce market size is estimated to reach $20.9 trillion by 2027, the industry still has a lot of operational shortcomings that would prove more inefficiency inching towards this growth; especially that business process collaboration will be tripled to $100 billion in the next five years.
A hefty 80% of government and organizations’ resources are wasted in moving, aggregating, cleansing, verifying, and sharing data with other business entities and stakeholders. The revenue of organizations is estimated to decrease by 27% — 40% as co-ordination costs increase proportionally with the degree of specialization that is needed. Organizations based in Asia alone lose around $40 billion annually — all because of the prevailing reliance on siloed processes and because there is no shared trust among organizations.
The traditional view of markets and organizations relies on a sequential thinking process, whether it is supply-chain or organization value chain — and organizations are slowly realizing that they are part of a larger network, a living ecosystem. This therefore demands an ecosystem approach to resource planning, business process execution and collaboration between the various nodes of the network. Being a cross-organization network built on blockchain, tamper-proof and seamless, Cros aims to fill in these gaps.
“The solution we envisioned was an innovative cross-org collaboration and integration platform; a decentralized integration platform, into which small and medium sized organizations can collaborate and correctly execute their business process without the need for trusted intermediaries,” says Cros’ visionary founder Ajay Bhandari, who’s also the former Google and Microsoft Chief Architect.
“Cros translates existing collaborative process models to smart contracts and ensures that the process is secure and is executed correctly. Smart contracts check compliance before changing state of process, providing a single source of truth to all participants and full traceability.”
Bhandari had a vision to build a solution for challenges related to data exchange, complicated transformations, traceability and shared truth, and trust between parties. Therefore, Cros would be empowering enterprises to collaborate with ease, integrate with their IT infrastructure and Cloud ERPs, while preserving data guardianship and maintaining control.
Similar problems were solved within the organization (intra-business integration), utilizing databases, business service bus and the ERP systems. Those same technologies and platforms are simply not enough for cross-enterprise collaboration, due to concerns about ownership, trust and control.
The typical organization today runs on a centralized system — as they coordinate transactions between suppliers, vendors, business partners and regulators, it is difficult to come to a consensus on building, running and operating a cross-organization collaboration solution while addressing ownership, trust and control issues. This paradigm shift will be based on a completely revised definition of “ownership,” “control,” and “trust” — the hallmarks of the operational model of traditional business. Blockchain technology can be the enabler of such a paradigm shift towards cooperative competition, or “co-opetition”.
Who’s building Cros?
Behind Cros is a team of pioneers with 20+ years of experience from Google, Microsoft, Oracle, Cisco, Deloitte, and EY that have banded together to facilitate a fully functional and user-friendly decentralized web.
The Cros Foundation is partnering with best-in-class entities to build Cros and foster the development of the services and applications that will run on it. Pioneers from Google and Microsoft, developers from Bussr Technologies, and capital partners from crypto-funds are all working together to develop a superlative realization of Cros Foundation, with Cros at its core.
About Cros
CROS is an advertising platform and protocol connecting metaverses with advertisers using blockchain smart contracts. CROS enables Metaverses to power Advertising and eCommerce. Connecting Metaverses with advertisers and users in an intuitive and decentralized process. Standardizing Advertising NFTs and powering immersive consumer economy across metaverses. Enabling Everyone to earn from advertising and unlocking new heights for the play and earn economy.
For any questions, please feel free to reach out to us on:
Website: https://cros.network
Telegram: https://t.me/CrosOfficialANN
Discord: https://discord.gg/B9SbMPeAYH
Twitter: https://twitter.com/Cros_Network
Medium: https://medium.com/cros-network
Linktree: https://linktr.ee/crosnetworkofficial
