Zurab “Z-Man” Ashvil, formerly of Softbank, announced today the launch of L3COS: a project to offer blockchain security and performance to national governments, businesses, and individuals. He brings to the role of founder and CEO a Ph.D. in Cybernetics and Applied Math as well as his professional experience.
The country code Top Level Domain DNS system grants countries digital domains that can be managed, developed and leased. L3COS [pronounced lecos] gives governments control over a blockchain-based infrastructure in a similar way.
Assigning one of 195 super-nodes based on a Proof-of-Government (PoGvt) algorithm, L3COS gives national governments a controlling position in a blockchain-based national and international network that lets them interact with each other and with businesses and their own citizens.
Transparency and regulation: the next generation of blockchain infrastructure
Traditional blockchains offer trustless interaction and transparency, making them attractive to businesses and governments as well as individuals and solving many privacy and security issues inherent in standard software and web apps. However, the space has been difficult to regulate, with no access point to individual blockchains for regulatory authorities. At the same time, blockchain projects frequently struggle to attract institutional investment.
L3COS structurally recognizes that no one blockchain structure can be all things to all participants and uses a triple-layer structure to meet the needs of three types of uses: national governments, businesses, and organizations, and individuals. This has been recognized by an increasing number of high-value investors seeking involvement with the project.