Back in 2017, the Aragon Association, a Swiss non-profit, launched Aragon, an Ethereum-based distributed ledger technology (DLT) project that claims to make it easier for users to build and manage decentralized organizations. In the following, BTCManager dig deeper into what makes this project so appealing.
Introducing Aragon: Unstoppable Companies
Announced by the company on February 10, 2017, the Aragon Project is based on the basic principles of blockchain – removing intermediaries by making the need for trust obsolete.
Aragon is built on Ethereum and is aimed at the decentralized creation and management of operational needs for organizations. According to the company, the platform is designed to remove third-party intermediaries from the business development and execution process.
Removing the unnecessary bureaucracy, Aragon wants to cut administrative costs, fees, and delays, while simplifying the entire operational workflow of a company. And while the platform’s ultimate goal is to introduce decentralization to the business operations environment, it was designed with the average user in mind, the company stated in its blog post.
By designing a business platform with the end user in mind, the team behind Aragon was able to create an entirely customizable, transparent, and easy to use platform.
Disrupting Business Environments as we Know it
“Aragon is everything you need to operate your company or organizational structure, on Ethereum,” the company said about the project. Aragon can manage business functions such as payroll, accounting, fundraising, cap table management, and even token distribution.
The firm managed to develop a unique modular system that allows its users to separate the individual service components. This creates an effective and efficient approach to the company’s business clientele – one that can be easily customized.
According to some experts, Aragon’s use could easily expand to non-blockchain companies, as the need for the company’s voting model of liquid democracy becomes more popular. And while Aragon is certainly not the first company to offer such a model, it is more attractive to investors than some of its competitors.
The company launched the main net in October 2018, which gave users increased access to the service offerings of the entire Aragon ecosystem, including voting, governance, administration, and identity. The company said that they have already deployed the first company to a private Ethereum testnet and that they would release the first public alpha by the end of February 2019.