Founded in 2018, Toulouse-based startup OKP4 is preparing to launch a test version of its blockchain for business data exchange. Meeting with co-founder Emmanuel Aldeguer and blockchain manager Theo Pellier.
JDN. What problem does the creation of OKP4 solve?
Emmanuel Aldeguer, CEO and co-founder of OKP4. © OKP4
Emmanuel Aldeguer. OKP4 stands for “Open Knowledge Protocol for Everything and Everyone”. We are a blockchain dedicated to building data applications that enable and facilitate data sharing. There is a lack of trust in data sharing and a significant lack of alignment of interests. Today, when we talk about the data market, we are, in fact, talking about exchanges: the seller sends his data to the buyer, and the buyer processes it. We want you to be able to share your data without sharing it.
What solutions does OKP4 offer in this context?
EA Our system allows interaction between individuals, services, algorithms, hosting or storage services whose data can create additional value. It is this added value that can be redistributed between each of the network participants, in proportion to their contribution. There is a concept of common values.
Can you show us the current use cases?
EA For example, there is an agricultural consortium subsidized by the region of Brittany called “La data est dans le pré”, on the one hand, CERFrance, which plays a role in agricultural accounting, and on the other hand, participants in livestock advisory services who accompany breeders on practices. Very powerful structures that have a lot of data, each in its own sector, but confidential. However, contextualizing and aggregating these data is likely to generate very useful indicators and new value chains. In particular, with food manufacturers, for example, to calculate the fair cost of milk. It is a mixture of accounting data and many years of practice.
The added value does not come from the raw data, but from the contextualization of their aggregation. However, initially these are two economic actors who would already look at each other like a faience dog before moving. As part of the data space project, they use the infrastructure offered by the OKP4 protocol to share their data and use it more efficiently. Actors are united according to common rules.
Initially, you developed OKP4 on the IOTA platform. Why did you refocus on the Kosmos network?
Theo Pellier. IOTA technology has proven to be unreliable and problematic in terms of smart contracts and centralization. In 2021, we finally chose Cosmos and its SDK to launch our own blockchain. The issue of decentralization is broad. We even wondered about Layer-3 in bitcoin or smart contracts in Ethereum, but what we are building is very complex, with multiple levels of control. In the end, it was easiest for our developers to have a sovereign and dedicated environment, that is, their own blockchain. At launch, we will have our own network of approximately 150 Proof-of-Stake validators. The challenge is to make the distribution of tokens as wide as possible.
“At launch, we will have our own network of about 150 validators”
You are planning to issue a token. What will be its use?
TP is primarily a utility token for transferring value between participants. Token valuation is also a fairly powerful mechanism for attracting new developers. This will also be a control token.
Do you think it is easy to access the token model for business?
EA The corporate world is not ready for token management. That is why one of our lines of business will be to act as an intermediary for companies that are interested in using the protocol but only work with fiat and do not want to manage tokens. We can take care of issuing wallets and tokens.
Why a new SAFT (Future Token Simplified Agreement, Pre-Token Sale) in September, about ten months after the first one?
EA In fact, a few months ago we raised about one million euros, in particular with the first SAFT, which was signed by 550,000 euros. At the time, we were thinking about doing a seed run because of the bull market. But the crypto winter has come, and we have revised our strategy. Today we are in a transitional phase ahead of our ten million fundraiser, which we plan to launch in early 2023. This intermediate phase should allow us to get to the deployment of our testnet (testnet, editor’s note). and run the first use cases. SAFT is a fast and fun way to finance because of the liquidity opportunities.
Does a bear market pose a threat to the sustainability of your business?
EA Of course, it is 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 due to the network that we will form.
When will you be ready to roll out the test phase of your network?
EA Testnet is inevitable in the fall. For the main network (main and functional blockchain, editor’s note), we take our time because we want to test a certain number of elements first.
Consulting and marketing entrepreneur Emmanuel Aldeguer founded OKP4 in 2018. Theo Pellier, an agricultural engineer by training, has been in charge of the OKP4 blockchain infrastructure since 2020.