Founded in 2018, Toulouse startup OKP4 is preparing to launch the trial version of its blockchain dedicated to sharing business data. Meeting with co-founder Emmanuel Aldeguer and blockchain manager Théo Pelliet.
JDN. What problem does creating OKP4 solve?
Emanuel Aldeguer. OKP4 stands for “Open Knowledge Protocol for everything and everyone”. We are a blockchain dedicated to building data applications, which will enable and facilitate data sharing. There is a distrust in data sharing and a great lack of alignment of interests. Today, when we talk about market data, we are essentially talking about exchanges: a seller sends his data to a buyer and the buyer reworks it. We want to allow you to share your data without exchanging it.
What solutions does OKP4 offer in this context ?
AND THE Our system allows you to orchestrate interactions between individuals, services, algorithms, hosting or storage services, whose data can generate added value. It is this added value that can be redistributed among each of the network participants, in proportion to their contribution. There is a notion of shared values.
Can you show us current use cases?
AND THE For example, there is an agricultural consortium subsidized by the Brittany region called “La data est dans le pré”, with CERF France on the one hand, which is involved in agricultural accounting, and on the other hand, the Conseil Elevage Ouest, which assists breeders on the practices. Two very powerful players that have a lot of data, each in its own sector, but confidential. However, it is likely that the contextualization and aggregation of these data will allow the creation of very useful indicators and new value chains. In particular with food manufacturers, for example, to calculate a fair cost price for milk. It’s a mixture of accounting data and years of practice.
The added value does not come from the raw data but from the contextualization of its aggregation. However, originally they are two economic actors who, without it, would have looked at each other like a faience dog before moving. As part of a dataspace configuration project, they leverage the infrastructure provided by the OKP4 protocol to share their data and make the most of it. Actors come together in common rules.
You were originally developing OKP4 on the IOTA platform. Why did you reorient yourself in the Cosmos network?
Theo Pelliet. IOTA technology proved to be unreliable and problematic in terms of smart contract and centralization. In 2021, we finally opted for Cosmos and its SDK to launch our own blockchain. The issue of decentralization is vast. We even wonder about a Layer 3 on Bitcoin or smart contracts on Ethereum, but what we are building is very complex, with multiple layers of governance. In the end, the easiest thing for our developers was to have a sovereign and dedicated environment, so our own blockchain. We will have our own network of about 150 proof-of-stake validators at launch. The challenge is really having a token distribution that wants to be as broad as possible.
“We will have our own network of around 150 validators at launch”
You plan to issue a token. What will its use be?
TP It is primarily a utility token for transferring value between participants. Token evaluation is also a very powerful mechanism to attract new developers. It will also be a governance token.
Do you think the token model is easy for companies to access?
AND THE The corporate world is not ready for token management. That’s why one of our activities will be to act as an intermediary for companies that are interested in using the protocol, but are just fiduciary and don’t want to have to manage tokens. We can take care of the wallet and token issue.
Why a New SAFT (Simplified Agreement for Future Tokens, a Token Pre-Sale) in September, about ten months after the first?
AND THE In fact, we raised around one million euros a few months ago, with the first SAFT being the subject of a subscription of 550,000 euros. At the time, we were thinking of doing a seed survey because of the bull market. But crypto winter has arrived and we have revised our strategy. Today, we are in a bridging phase ahead of a ten million uptake that we plan to do in early 2023. This bridging phase should allow us to go all the way to deploying our test network. (test network, editor’s note) and launch the first use cases. SAFT is a fast and interesting financing modality, due to the liquidity opportunities.
Is the down market a danger to the sustainability of your business?
AND THE It is certainly better to launch a token in a bull market than in a bear market, but our project, our business model does not depend on the evolution of the market. The important thing is that the token has value thanks to the network that we will have formed.
When will you be ready to deploy the test phase of your network?
AND THE The testnet is imminent in the fall. to the main network (main and functional blockchain, editor’s note), let’s take our time because we want to test a certain number of elements first.
Entrepreneur in consulting and marketing, Emmanuel Aldeguer founded OKP4 in 2018. An agronomist by training, Théo Pelliet has been responsible for OKP4’s blockchain infrastructure since 2020.