Who we are. What we believe in.
Younus was created to provide a technical solution to the problems and inefficiencies in supply chains. As technology moves forward, more opportunities arise to improve existing industries. We at Younus believe that this technology can revolutionise the supply chain industry. Blockchain is a young technology that has proven itself so far in decentralised currency, applications, and contracts.
Younus is not just a blockchain platform – it also brings together IoT, finance and blockchain, all technologies that are currently under-utilised in the supply chain industry.
Finance is a core focus of the Younus platform. The name Younus is derived from Prof. Mohammad Yunus, who was awarded a Nobel Peace Prize for bringing micro-credit to small companies in Bangladesh. The platform is designed to make this kind of financing accessible to anyone, no matter where they are.
One of our core goals is to readdress the power imbalance between large corporations and smaller enterprises. Younus plans to achieve this by reducing the barriers to entry for investing in smaller enterprises. It does this both by letting these businesses own their data, and by making their data transparent and easy to access. Another key to this rebalancing is tokenising potential investment opportunities, making them available to the global market. The Younus approach breaks away from traditional lending where power, data, and wealth are concentrated in a few large corporations.
At the heart of any blockchain platform is its consensus mechanism and Younus is no different. However, Younus also uses its consensus to tackle one of the biggest challenges of having a supply chain blockchain platform (bridging the gap between tangible entities and the blockchain) and one of the biggest issues with traditional blockchain consensus models (consensus power being acquired only through wealth). Both issues are solved by adding Proof of Validity to Delegated Proof of Stake, which together form Proof of Reality. Proof of Reality gives power and reward to those participating in the system and bridges the gap between the tangible entities and the blockchain. It does this while balancing consensus power between those who have financial and non-financial stake in the platform.
With the growth of blockchain comes the opportunity for new methods of governance. For a distributed ledger system to be truly decentralised, there must be a voting system that is democratic and robust. Decentralised on-chain governance is in its infancy and the Younus Foundation wants to help shape its evolution into a strong infrastructure.
The governance of Younus will initially be stabilised by core support from the Younus Foundation and its partners. As the platform matures and the governance mechanisms become more dependable, the influence of the foundation will be reduced, eventually leading to true decentralisation.
As a starting point, Younus will enable futarchy and liquid democracy. Futarchy incentivises contribution whilst liquid democracy provides the flexibility for the governance system to meet the needs of different ecosystem participants.