Want to Better Connect With Your Customers? Consider Blockchain.
When was the last time the effectiveness of your small business technology platform was evaluated? For millions of business owners, chances are good it has been way too long — even for those in the tech sector.
To sustain success in today’s economy, business owners need to regularly evaluate the mission and vision they have established, making necessary adjustments to ensure they are best serving their customers and communities. Sometimes this means making big changes to core infrastructure.
While it may not look it on the surface, at heart, these changes aren’t about technology. Rather, they are a reflection of a customer-led business model.
Customers today expect a reason to do business with a specific company. They demand appreciation for the value they bring to each business they patronize. Today’s consumer is looking for a financial stake in the goods and services they use. They want to be appreciated for their critical role in the success of any start-up.
A growing technology called Blockchain offers a new and fresh ways to accomplish this goal. The ability to create a robust and transparent incentive system lies in platforms that utilize this up-and-coming tech solution.
If you want your business to be one of the few success stories in today’s highly competitive business climate then you should consider starting business innovation from the ground up. Today the new trend that companies are considering is updating their technology platform to include an interactive incentive system built on a blockchain platform. For example, Facebook has recently announced the company is making a substantial investment in blockchain technology.
A New Use Case for Technology
When Bitcoin, the world’s first cryptocurrency, launched in early January, 2009, it caught the attention of a select few users. Back then, much of the business world laughed at their investment in an intangible currency with only a clear software feature use case in video games and interactive online worlds like Farmville. Nevertheless, a few years later, those few early Bitcoin investors made a fortune and more use cases emerged.
During that time, the complete spectrum of what cryptocurrency has to offer has become more and more apparent. Blockchain technology has caught the attention of not just cryptocurrency companies, but also mainstream business platforms and enterprise businesses such as SAP and Oracle.
Regardless of whether public opinion is pro- or anti-cryptocurrency, at this point, the fact that so much media attention has been given to this controversial new technology is perhaps even more telling than market performance.
Major financial institutions like Goldman Sachs, Fidelity Investments, and Morgan Stanley have initiated the process of cryptocurrency and blockchain integration. Even the NYSE and NASDAQ are reportedly in talks to bring cryptocurrency into their respective folds.
But it is not just financial movers and shakers who are poised to strongly benefit from blockchain. The new technology offers a truly elegant solution for shared profits and incentives through decentralization and transparency. Companies willing to embrace these systems are beginning to flourish.
I hosted a crypto investor dinner party in Davos, Switzerland this year where the buzzword was Blockchain technology. A panelist of mine at Davos Conference Week, the Co-Founder and CEO of CoinCasso, Luke Ozimski shared some insights with me about how businesses can take advantage of this blue ocean that is being powered in part by Blockchain and Tokenization technologies. The startup company is using a fresh, highly creative approach to their cryptocurrency exchange (the portal where digital currencies are traded).
