We are getting there with our UBO identification platform called Oktober31, a pilot project of Consolidity. Right now we’re in the middle of bugfixing and testing the product.
Originally we planned to present you the platform in this issue, but unfortunately you have to wait a little bit longer. Still, it will worth the wait and we’ll update you as soon as it’s online!
At the same time we are working on the Corporate Service Provider admin of Consolidity.
Through this platform the CSPs will be able to delegate tasks to employees, supervise their work, keep count of the finances while the accounts and officers are managing, reviewing, commenting and validating the administrative procedures.
It’s very intriguing to observe the same processes from the other side and try to find the connection points. It’s like building a bridge from both shores of a river – our job is to make sure the sides meet halfway.
Two weeks ago, we discussed the origin of the name Consolidity. Now let’s talk about the idea itself!
Where does the idea of Consolidity come from?
Founding a company or managing business is not easy and it’s even harder if you want to do it abroad. We experienced it in Malta when we were there to found BC Panther, the Malta pillar of this business.
We had to deal with stacks of paper, unclear forms and monotonic processes over and over. That was the moment when our CEO Tamas came up with the idea of a flexible platform to simplify company formation, corporate governance and administration processes in general. Since then we have been working on this versatile product.
With the Amazon rainforest wildfires being one of the hottest topics recently, people have been regularly discussing the motivation behind deforestation in general, bringing up activities such us cattle breeding or palm oil and soybean production.
But most of them tend to forget about paper consumption while about 14% of deforestation is done to satisfy our appetite for paper goods…
So if you want to save the forests, at first you should check out our pick article of the week about the paper industry:
And after that you might think about how an e-administration platform like Consolidity should replace your paper based processes.
What a surprise after “FAQ-ulty”, the name, Consolidity is also a word-game: it comes from the words consolidate and solidity.
Of course, Solidity comes from our interest in Blockchain technology. Solidity is a programming language for writing smart contracts on Blockchain platforms, and despite the fact that we are not using the technology at the moment, we would like to implement a Blockchain solution and propose tokenization frameworks into Consolidity in the near future.
Furthermore, Consolidate is a very important connotation from the beginnings, because, through our platform, we would like to make administrative processes more solid, and combine a lot of functions and possibilities into a single more effective and coherent product to render a complex and time-consuming process quick and simple.
In fact, when we look at the universe and its complexity, many researchers and the greatest minds have tried to uncover its mysteries of how everything is tied, efficiently or not, together. Every system, mechanical, chemical, financial, complex, administrative must have a self-maintaining mechanism that keeps its consolidation which is commonly called “consolidity of the system”. Consolidity represents a new different look to systems, it is one of the inherent properties of the universe typically operating in a fully fuzzy environment.
That is the story behind the name of Consolidity, it inspired us to build something that won’t you make expect the unexpected again.