A Deeper Look into Luther's Operating System
In our last blogpost, we touched on what sets us apart from our competitors:
- An operating system which serves as the engine that drives enterprise processes forward, and
- A set of development tools
Our development tools comprise of:
- A proprietary smart contract development language called Ellipse which allows enterprise developers to develop 2.5X quicker whilst having to write 7X less code (in comparison to other development languages) with 3X less bugs
- A set of modules which make development work a lot quicker:
There are 3 types of modules that we offer:
- Application Modules - Microservices interface & connect with external sources and provide data to blockchain network
- Platform Modules - Libraries enable execution of application-specific business logic across the blockchain network
- Infrastructure Modules - Tools and configuration allowing us to deploy new blockchain networks, perform maintenance/updates, and provide monitoring/reporting dashboards for network performance and health
Together, this makes up our platform we call LEIA (the Luther Enterprise Infrastructure Architecture) which allows developers to create their own enterprise applications.
To learn more about our platform, visit https://www.luthersystems.com/blog/lutherssecretsauce.
In this blogpost we’ll be looking deeper into Luther’s Operating System to explore how this engine works.
Luther’s Operating System, the engine driving enterprises forward
Luther’s OS is the engine that drives enterprises forward, allowing multiple processes and entities within the enterprise to be all connected in one place.
To understand this at a deeper level, let’s put this in the context of an example.
One of the applications we have recently developed is our Mortgage Sourcing Application that we built. This application led to the development of a regulated ecosystem which allows brokers to automatically source mortgages and insurance policies for their customers, which includes compliance services.
The diagram below provides a visual illustration of this process.
We enabled the automation of a mortgage and insurance-sourcing process with built-in automated compliance checking and verification, as well as KYC, AML and credit checks. This led to a streamlined mortgage-lending and insurance-sourcing process for both brokers and home buyers, covering different areas of the process.
This led to the creation of a clearer, smoother user journey for each broker and end customer, ultimately resulted in a simple, streamlined process with automated real time compliance checking, that massively reduced processing times and operating costs:
- 60% FTE workload reduction
- 100% reduction in manual compliance checks
- 50% operational cost reduction, and
- 90% account approval time reduction
The Operating System helps connect the brokers and mortgage applicants as well as act as the engine that enforces compliance rules of the process. It is the Operating System which orchestrates and coordinates the mortgage sourcing process.
Similarly, different applications which have been built will capture and streamline different types of processes for each enterprise.
Your computer's Operating System orchestrates allocation of compute resources when you’re running, say, Microsoft Word and Minecraft and talking on Zoom, and runs internal functions of the CPU. Akin to that, Luther’s Operating System is the orchestrator of enterprise processes. It does this by coordinating and executing each step of the process, namely triggering, communication, execution, monitoring and verification of events and actions of individuals of the enterprise process.
The ‘fuel’ that Luther’s Operating System runs on: Smart Contracts
On a more granular level, if we zoom into the operating system, we are able to identify what is really doing all the work - the answer? Smart contracts.
The natural next question is to ask: What is a smart contract?
Everyone knows what a regular contract is. It’s an agreement which binds 2 or more parties which often act as a trigger for something to happen. Eg. If event X happens, then the contract is triggered, which means that event Y should follow.
Now a smart contract is a contract that is automated. There is no manual intervention necessary for an event occurring after event X - the operating system does that automatically for you. What this means in the context of LEIA is that we are able to connect a series of events within the enterprise process, using smart contracts - which allows the process to ‘run by itself’ without needing individuals to check for errors or do any reconciliation in light of any errors.
This saves enterprises a huge amount of time and resources and this is key.
Through smart contracts, Luther’s operating system has been able to help its clients make reductions in enterprise processes of 90% in cost and 85% in processing times. To find out more about how Luther’s operating system can help your enterprise, get in touch at https://www.luthersystems.com/contactus.
To find out more, stay tuned for our next blogpost where we will be doing a deep dive on Luther’s development tools!