To Blockchain or To Blockchain
After the successful launch of 2 more blockchain products of the ground in April, we've decided to share some positive experience.
Mr. Bufffet said that cryptocurrencies are a bubble. He is right. He is right for plenty of cases. However, there are also cases, which are natural and apt for blockchain in general and cryptocurrencies in particular. These cases force regulators of countries around the globe speedup the process of building a fair and riskless environment for all players in this sector. Sometimes their conclusions are logical, sometimes surprising, but every time - positive.
So, what is the blockchain for business?
Is it a bubble or real improvement?
Does it require a fortune of money to be implemented or it is something cheap and easy?
From our humble perspective, it's a necessary improvement recommended for businesses of any size and IT maturity.
#1 Blockchain means Cloud
Millennials prefer Cloud solutions. So, it's a good time if you are considering such business improvement. Besides well-known Cloud cases for business:
- Payment processing
There are also other opportunities to make business more fluent and efficient.
#2 Clear and Trustful Digital Ledger for your CPA and Bookkeeper.
We believe that blockchain will change bookkeeping and accounting the same way as the ledger systemized business initially. However, now it has rules, it does all math and automates literally all the process, using different access and visibility for different roles. By all means, blockchain is the next evolution step for this part of any business.
#3 Smart Contracts and financial operations automation
Besides functions related to accounting, blockchain and custom cryptocurrency can automate such financial operations as transfers, escrow, profit distribution, and other operations, which can be clearly defined and agreed between 2 or more parties.
#4 Business Process Automation
Finally, any business process with the defined flows, rules, and states can be easily transferred to blockchain. So, coupling blockchain with such technologies as ERP, like Odoo, ESB, like Mule, or Model-Driven Mendix will definitely create value for a business of any size and complexity.
#5 Loyalty Program
Cryptocurrency is a good substitution for all kinds of "Virtual Currencies". The most applicable for any business is the Loyalty program. Moreover, like any cryptocurrency, Loyalty points can be distributed during ICO, so they will not only highlight your most Loyal Customers but also invite investments to your company.
Yes, online games and gambling sounds are ideal for cryptocurrencies, however, even if the business has nothing in common with gaming - it can use games and cryptocurrencies to entertain online customers.
#7 Distributed ... ANYTHING!
In fact, blockchain is not only about cryptocurrencies, finances, business, and commercial affairs. It is the next step in secure PKI solutions as well, as the very handy distributed storage and functionality solution. We truly believe that it can be used for anything you can imagine.
Sure, you can wonder how much does it take to make a blockchain solution or cryptocurrency.
It depends on scope and complexity, however, based on our experience, the simplest blockchain solution can be done in 2 weeks. For Cryptocurrency/ICO - the technical part can be done in 2-3 months, however, digital marketing for it should take at least 3 months so it will have a positive result.
Finally, we can conclude that blockchain and cryptocurrency can be beneficial for businesses of any size and complexity. But like any significant improvement, it requires the vision of how it will improve and impact. We can help you with it.