In 2017, the potential of smart contracts seems limitless. We have witnessed the rise of many promising blockchain projects that seek to revolutionize some of the oldest and most entrenched industries overnight.

blockchain

(1) blockchainnative application, including financial applications, games, identity management, etc.;

(2) tryApplications and protocols that connect traditional finance with blockchain-native assets and create new financial paradigms, only possible through blockchain and smart contracts, and;

(3) Enterprise Adoption of Blockchain and Smart Contracts, eliminate the intermediary of non-value-added participants through a trustless smart contract system, improve transparency and automate business processes.

Since then, the entire blockchain community has come a long way on two of the three.

We're still in the early days, but with Axie Infinity's Play2Earn mechanism and financial apps like Yearn, among others, undeniably successful blockchain-native apps.

Additionally, we’ve seen traditional finance players like Square, Robinhood, PayPal, Venmo, and others bridge the gap between centralized and decentralized finance. However, meaningful enterprise adoption has yet to materialize.

Early news of IBM Blockchain working with Maersk and other industry vertical leaders failed to yield tangible results. The promise of supply chains that run on intellectual property management, consumer credit, and other technology implementations has yet to materialize.

However, we believe this is all about to change.

Enterprise adoption of blockchain-native assets is the next frontier, and it’s coming.

Umbrella Network's efficient data platform is ideal for the enterprise space. For larger companies, low-cost reliability, scalability, and security are not only optional, but absolutely necessary for them to run a profitable business.

Given that Umbrella Network has a cost advantage over other oracle machines in terms of on-chaining large amounts of data, Umbrella Network has unmatched industrial-strength requirements for reliability, scalability, and security in terms of the ability to on-chain enterprise big data, but the cost a small part of.

We looked around for the ideal opportunity to lead Umbrella Network into the enterprise market. Finally, we realized the answer was right in front of us. Lucidity is a digital advertising oracle with a proven track record.

Their clients, such as corporate heavyweights Samsung, KFC and Hyundai, spend billions of dollars a year on advertising. Over the past four years, Lucidity has built leading solutions for capturing centralized data along the advertising supply chain and migrating data on-chain.

Once live, Lucidity clients can run custom analytics and automate processes with the same reliability and security that power DeFi and Crypto.

future

future

In many ways, Lucidity is just the first step.

First, Umbrella Network acquired Lucidity not just for what it is today, but for what it can be. Lucidity will evolve into a comprehensive digital advertising platform that can take on centralized leaders like Google and The Trade Desk.

Just like Google acquired DoubleClick as the foundation of its AdTech solution, Umbrella Network will use Lucidity's digital advertising oracle as the foundation of our own decentralized digital advertising platform.

We will build a modern advertising network and build a buy-side and sell-side platform with cutting-edge targeting solutions. Lucidity will automate ad verification and payment, so publishers no longer need to wait for the funds they depend on to pay their bills.

Additionally, Lucidity will help level the playing field for small advertisers to gain the same access and technological advantages as their larger siblings.

Second, Lucidity is just Umbrella Network's first foray into the enterprise market. We have identified industries where Umbrella Network's scalable, low-cost oracles could provide significant value.

Whether through acquisitions, partnerships or internal development, we expect that we will be strategic, adaptive and methodical in pursuing these opportunities.

In the end, while we wanted to realize the enormous opportunity in front of us, we had to focus on the integration and redeployment of Lucidity first.

Nothing will change for existing Lucidity customers, who will continue to receive the same award-winning technology and the best-in-class service and support they have come to expect.

If anything, the acquisition will allow Lucidity to invest more in additional features and product enhancements.

As Umbrella Network incorporates Lucidity into our platform, members of the UMB community will have access to the benefits of Lucidity's partnerships with leading brands. Lucidity will pay Umbrella Network a percentage of its net revenue.

These fees will be paid proportionally to validators and their stakers in proportion to what was originally designed. And there will be other mutual benefits as well.

In short, no one else is as good a fit for Lucidity as Umbrella Network. No other oracle on the market can handle the volume and frequency of data processed by Lucidity. Now, with the integration of Lucidity, the Umbrella network will process more data than any other blockchain oracle.

Recognizing that efficient and massive data processing is an absolute requirement for enterprise-level big data, Umbrella Network is now positioned as the oracle of choice for real-world industry applications.

The letter is not meant to be a sweeping update on the acquisition. We're sure our community has a lot of questions about this exciting update. We will provide more details in the coming days and weeks. As always, we will provide opportunities for the community to ask questions and provide feedback.

This is a big moment for the Umbrella Network, community and enterprise blockchain market. We're really excited about what the future holds and look forward to sharing this journey with our community.