Labrys: Making Distributed Ledger Technology Accessible

It’s a no-brainer that Distributed Ledger Technology (DLT), as a facilitator of immutable truth and transparency, holds the potential of redefining the way business transactions of all sorts are carried out. The technology’s revolutionary implication, through blockchain, in spurring the world of cryptocurrencies and decentralized banking infrastructures has already sent ripples across the enterprise and consumer spheres. Today, enterprises as well as government organizations are identifying areas where DLT can be rightfully and beneficially leveraged. And as with any new technological intervention—they face hurdles pertaining to inexperience, education, and scarcity of development resources. Helping enterprises map and execute suitable DLT strategies, Labrys operates as the go-to entity that helps clients navigate through the rather unmapped realms of DLT applications and use cases.

“DLT, like any other technology, has its share of use cases as well as scenarios where the technology does not make sense. At Labrys, we assist our clients to see past the hype and mass of information to identify tangible opportunities for applying DLT in their businesses and then bring the opportunity to life through our software development capability,” says Taber Silver, the co-founder and managing director of Labrys. The company holds extensive experience in developing DLT products for clients operating across various industries.

During the embryonic days of Labrys, Silver, along with co-founder Lachlan Feeney—who serves as the company’s director of technology— witnessed firsthand the shortage of a consolidated source for knowledge and development resources available to businesses exploring blockchain solutions. After developing a product to issue financial securities on a private blockchain, the duo saw an opportunity to use their expertise in the services industry and positioned Labrys' vision to help innovate other businesses with DLT. For the thriving start-up ecosystems, Labrys’ solutions and service offerings hold immense value proposition. Given that some of the most innovative blockchain and DLT conceptualizations are spurred by start-ups, companies are on the lookout for means to quickly develop and demonstrate Proof of Concepts (PoC) for gaining the interest of investors. Labrys is a one-stop shop for such start-ups. The company adopts a collaborative approach that facilitates regular customer interaction for providing technical advisory and software development services. “We focus on identifying credible opportunities for our clients to benefit from DLT instead of focusing on attracting as much business as possible. Additionally, our approach is holistic, ensuring a clear understanding of a client’s existing enterprise architecture, where a DLT product would fit in, how it would be supported, and why it will provide an overall capability uplift for the client organization,” adds Silver.

Labrys is working with technology driven companies, governments and consultancy firms. By partnering with Labrys, a large finance firm based out of Australia is building a blockchain-based digital registry service and exchange for unlisted companies to gain share liquidity. After successfully demonstrating PoC, Labrys has taken the development to the commercial stage that currently holds millions worth of securities on the platform. The kind of growth, clientele, and track record Labrys has achieved while being a start-up themselves is indicative of the potential and demand for their line of service. Looking ahead, Labrys plans to focus on improving their consulting services whilst they formalize relevant product portfolios. “As we continue to deliver DLT products to our clients, there emerges the opportunity to publish packaged products for a wider market of potential customers,” concludes Silver.