Week 11: Blockchain for corporations
Blockchain has many applications for corporations & we are in the early stages of adoption but make no mistake, we are moving away from a blockchain space which is overly focused on what Bitcoin's price is doing on a daily, weekly or monthly basis along with the broader crypto market. Institutions are building and they are investing hundreds of millions of euros in the Metaverse, payments, NFTs and Web 3.0. The fusion of blockchain with Artificial Intelligence (AI) and the Internet of Things (IoT) is creating a whole new world of opportunity for just about every type of business. It's therefore essential to understand how this is going to impact your job, company or industry as this space is seeing the fastest adoption of any technology in history. We are entering the Exponential Age!
The key benefits of blockchain for corporations are numerous but here are seven.
It's clear that with these benefits, most corporations should be able to leverage blockchain to substantially improve at least one or two key areas of their business. For the sake of clarity, we're going to look at two industries here - Training & Coaching & Retail & Commerce.
Training & Coaching
Training & coaching corporations can benefit from implementing blockchain in the following ways:-
NB: dNFTs = Dynamic Non-fungible tokens which unlike standard NFTs can be edited by the original creator after being minted - essentially - updatable.
Here are four ways a coaching company could use blockchain to boost efficiency, reduce costs & increase student / client engagement:-
Retail & Commerce
The experience of buying, owning & selling products & services is likely going to change once dNFTs are adding into the experience & the value that will come as a result is going to be a game changer for brands.
Let's take a look at the process of buying, owning & selling a car:-
Result: Complete & immutable history of vehicle from A to Z.?
The same can be said for buying & selling property (see below). This is a great moment to remember the 3 pillars of blockchain technology:- decentralisation, transparency & immutability. The opportunities for the new & secondhand markets are truly endless.
Of course, not everyone has (or wants to have) a digital wallet that would be necessary to facilitate the transfer of dNFTs so more education, training & awareness is needed but just as with the advent of the internet, it will come and it will be here sooner rather than later. Are you ready & is your business..?
Disclaimer
This series of newsletters complements the weekly blocklunch45 sessions and is for educational purposes only as my mission is to educate as many business leaders, entrepreneurs and consultants as possible about the miriad of amazing use-cases of blockchain. It is not financial advice in any shape or form and the examples given are to illustrate the content only.
If as a result, participants and / or readers decide to invest on any of the companies or brand names mentioned, then that is entirely at their own risk. Please do your own research (DYOR).
If you are interested in joining the blocklunch sessions then please email me at [email protected].
Jeremy Williams.
Founder and CEO of Melanion Capital | Launched a unique BITCOIN EQUITIES ETF - BTC FP, BTC IM | Founder of the First Dividend Future Hedge Fund | Melanion Foundation | Bored Yachts
2 年Blockchain technology does not allow easy modification of data once recorded, and it requires rewriting the codes in all of the blocks, which is time-consuming and expensive. The downside of this feature is that?it is hard to correct a mistake or make any necessary adjustments.