Tag Archives: Cryptocurrency

Industries That Blockchain Will Radically Transform Hedge Funds

Industries That Blockchain Will Radically Transform Hedge Funds


The term “cryptocurrency” is a misnomer.
A common misconception, held by many newcomers to the blockchain world, is that the technology’s potential lies solely in the banking and financial industry. In fact, the recent suggestion of the Indian government to rename cryptocurrency as “crypto assets”, and Warren’s Buffett’s belief that Bitcoin is not in any way a currency, are perhaps closer to the true nature of cryptocurrency than the commonly held belief that it is simply digital money.

Cryptocurrencies should not be seen as just money, but as tools. Blockchain technology, which underpins cryptocurrency, has potential in many more forms than just as a medium of exchange and store of value.

The application of this technology to industries as varied as supply chain management, fashion and publishing is a result of the innate flexibility of blockchain. The nature of a platform can be programmed to suit a variety of needs. The sooner an investor realizes this, the sooner they will see how exactly it might be applied to different industries, giving them a degree of clarity with can help them measure the potential of a project to disrupt a particular industry.

Given the immense potential of blockchain, we take a look at industries, one at a time, that will be upended by its imminent commercial arrival. The shown here is as folows:

Hedge Funds

Today’s hedge funds assets total at about $3 trillion.

They operate in a wide variety of markets and hold considerable risk and reward. In the current system of hedge funds, a limited number of investors come together to pool in their money. Transaction fees are high, an individual investor may have a different opinion than that of the group, transparency is far from ideal and liquidity is low. It is a lucrative investment avenue that is restricted by issues out of the investors’ control.  The cryptocurrency market is also extremely volatile, which is exactly what hedge funds flourish.

These are all issues blockchain can solve. The decentralized nature of blockchain means many more investors can work together and operate on a voting system to place their investments and align their interests. Strategists can provide their analysis, tools and strategies to the market who can then invest in it and earn higher returns. This is what hedge fund focused projects like Alpha Protocol is doing.

Numerai is also utilizing decentralization to incentivize the construction of an AI-backed hedge fund with its token Numeraire. The project’s standout aspect is its emphasis on machine learning and data science (they even host weekly data science tournaments). Stock market data is also accessible on the platform, providing data scientists with crucial data they can use to create high return strategies.

Like the two projects mentioned above,  Quantopian is also incentivizing users to write investment algorithms which can operates on a licensing model. Authors of these algorithms will get paid based on performance. They also host competitions and offer capital to the authors of the best algorithms.

Chuck Reynolds


Marketing Dept
Contributor

Please click either Link to learn more about Bitcoin.
Interested or have Questions, Call Me, 559-474-4614

Industries That Blockchain Will Radically Transform Fishing

Industries That Blockchain Will Radically Transform Fishing


The term “cryptocurrency” is a misnomer.

A common misconception, held by many newcomers to the blockchain world, is that the technology’s potential lies solely in the banking and financial industry. In fact, the recent suggestion of the Indian government to rename cryptocurrency as “crypto assets”, and Warren’s Buffett’s belief that Bitcoin is not in any way a currency, are perhaps closer to the true nature of cryptocurrency than the commonly held belief that it is simply digital money.

Cryptocurrencies should not be seen as just money, but as tools. Blockchain technology, which underpins cryptocurrency, has potential in many more forms than just as a medium of exchange and store of value.

The application of this technology to industries as varied as supply chain management, fashion and publishing is a result of the innate flexibility of blockchain. The nature of a platform can be programmed to suit a variety of needs. The sooner an investor realizes this, the sooner they will see how exactly it might be applied to different industries, giving them a degree of clarity with can help them measure the potential of a project to disrupt a particular industry.

Given the immense potential of blockchain, we take a look at industries, one at a time, that will be upended by its imminent commercial arrival. The shown here is as folows:

Fishing

The fishing industry is a major source of livelihood

in the developing world, with over 500 million people depending on it. It remains a vital part of the economy, but is faced with growing calls of restriction from environmentalists and regulators who are concerned about environmental sustainability. It is this kind of situation, where both parties have justifiable arguments to support their cause, that blockchain can help achieve a compromise.

Overfishing is a serious threat to the environment and over 30% of the world’s fisheries have exceeded safe fishing levels, the result of which is permanent damage to the ecosystems and the extinction of species, like the Atlantic bluefin tuna. Of course, it also affects the communities that depend on a sufficient aquatic population to make their living. In international waters, there are few regulations to curtail fishing. Not only does this blatantly flout whatever few regulations exist to prevent harm to marine life, it also hurts the economy. $23 billion has been lost due to illegal fishing. What’s worse is that the illegal fishing industry is supported by slave labor.

Overall, the application of blockchain in this industry addresses two problems: those faced by people who make their living from it, and the sustainable and moral guidelines by which aquatic life can be harvested for consumption without irreversible endangerment.

WWF has partnered with ConsenSys and SeaQuest Fiji to implement a blockchain system where consumers can verify that the fish they purchase is not a result of illegal fishing. The latter has used the technology to track fish from the moment it is caught to its arrival at the distributor. A UK-based company called Provenance has also used smart tagging on fishes to verify social sustainability claims. They even conducted a 6-month pilot program to measure blockchain’s effectiveness for this purpose. Their extensive study indicated that the technology would make great headway in Indonesia, where 30% of the world’s illegal fishing occurs. Their approach is to incentivize fishermen with the help of a system that allows them to continue their livelihood.

Stratis, which we mentioned earlier, has teamed up Earth Twine to implement blockchain in the seafood industry. Earth Twine, like Provenance, is also combating illegal fishing, but with extra focus on complying with NOAA standards. The role of Stratis is to integrate a blockchain ledger, apps and tokens with Earth Twine’s seafood tracking solutions.

Chuck Reynolds


Marketing Dept
Contributor

Please click either Link to learn more about Bitcoin.
Interested or have Questions, Call Me, 559-474-4614

Welcome To The New World Of Agile Marketing

Welcome To The New World Of Agile Marketing

When my CEO approached me about changing the mindset

and practice of our marketing organization, I was excited, nervous and intrigued. He handed me a book titled, Lean Six Sigma for Service: How to Use Lean Speed and Six Sigma Quality to Improve Services and Transactions and said, “This is going to revolutionize the work you produce and expand the capacity of your team.”

Challenge Accepted

Before introducing this idea to my team, I familiarized myself with the concept of agile. This term is used to describe an approach to software development that emphasizes incremental delivery, self-organizing cross-functional teams, adaptive planning and continuous improvement. In laymen’s terms, agile enables organizations to master continuous change and innovation.

In the past, agile was predominately used in software development organizations. Agile is now spreading to every kind of organization and every part of work, as recognized in the Harvard Business Review article “Embracing Agile” by Darrell K. Rigby, Jeff Sutherland and Hirotaka Takeuchi. Agile is a framework for management. It provides the methodology to implement cultural change within an organization. Simply put: Agile will not work if management is not on board.

Agile, scrum, kanban and lean may sound complex and intimidating, but once you embody the agile mindset, you will find yourself living the change and focusing on realistic goals that drive innovation.

The Assembly Line

Marketing campaigns can be viewed as an assembly line with different business owners handing off tasks at different phases of a project life cycle. For example, a product marketer will write the copy for a new solution, it gets reviewed, potentially rewritten and then sent to another owner in the assembly process. This process mimics the steps of an automotive assembly line worker. We can use many of the same concepts to build modern marketing organizations. This approach provides incremental and evolutionary change for organizations.

Scrum Vs. Kanban

One of the first steps in rolling out agile practices to your marketing organization is to understand the difference between scrum and kanban. Scrum is a framework that allows you to address complex problems while delivering products of the highest possible value. This framework involves a sprint, a span of time during which a product increment is created. Each scrum team determines how long its sprints will be within a fixed timeframe. Kanban is an approach used to manage work by balancing demands with available capacity and improving how you handle bottlenecks. Work items can be visualized via a Kanban board to give you an idea of the process and progress.

Eliminate Bottlenecks

Your Kanban board should be set up in a pull system, which is a manufacturing strategy that reduces waste during the production process. In this type of system, a marketing team will only work on projects and campaigns that they can handle at any given time. This is meant to be flexible — it will control and balance the flow of resources on your team.

Our team uses epics (large bodies of work or campaigns) and tasks (incremental pieces of a project that are tied to epics) to track our workflow. The epics and tasks are a way to organize the hierarchy of our projects and are linked to the workflow steps listed above. The cards on the kanban board provide visibility to the management team to track efficiency, reduce work in progress (WIP) and uncover any bottlenecks in the process.

The Daily Standup

It is essential to have daily standup meetings. These meetings last approximately 15 minutes and offer many benefits (e.g., improved communication and decision making, eliminating the need for other meetings and helping to identify obstacles). They also improve transparency and knowledge amongst the team.

Our marketing team is based around the globe, so we schedule daily standup calls and run through our digital kanban board on JIRA — the modern way of running standups, instead of standing at someone’s desk running through post-it notes. By developing a routine, it makes it easy to track progress from the last meeting and focus on improvement so everyone knows what they need to accomplish.

All Hands On Deck

In today’s day and age, there are many tools and technologies that teams can use to enhance collaboration. Not only does agile marketing enable better alignment between project needs and available resources, but it can also dramatically improve the communication and productivity of your teams.

Chuck Reynolds


Marketing Dept
Contributor

Please click either Link to learn more about Marketing.
Interested or have Questions, Call Me, 559-474-4614

Industries That Blockchain Will Radically Transform Electric Vehicles

Industries That Blockchain Will Radically Transform Electric Vehicles


The term “cryptocurrency” is a misnomer.

A common misconception, held by many newcomers to the blockchain world, is that the technology’s potential lies solely in the banking and financial industry. In fact, the recent suggestion of the Indian government to rename cryptocurrency as “crypto assets”, and Warren’s Buffett’s belief that Bitcoin is not in any way a currency, are perhaps closer to the true nature of cryptocurrency than the commonly held belief that it is simply digital money.

Cryptocurrencies should not be seen as just money, but as tools. Blockchain technology, which underpins cryptocurrency, has potential in many more forms than just as a medium of exchange and store of value.

The application of this technology to industries as varied as supply chain management, fashion and publishing is a result of the innate flexibility of blockchain. The nature of a platform can be programmed to suit a variety of needs. The sooner an investor realizes this, the sooner they will see how exactly it might be applied to different industries, giving them a degree of clarity with can help them measure the potential of a project to disrupt a particular industry.

Given the immense potential of blockchain, we take a look at 25 industries that will be upended by its imminent commercial arrival.

Electric Vehicles

By 2040, 40% of the world’s vehicles will be electric.

There is incentive for the consumer to purchase electric vehicles. For one thing, they cost less to drive per kilometer than their gas counterparts. They are also far less detrimental to the environment and it is encouraging to see that the global conscience is growing increasingly sensitive towards our planet.

However, it is the nature of people to put convenience over planetary consequence and until a serviceable infrastructure is present, we can expect non-electric vehicles to hold their ground. eCharge is expediting our transition into a greener world with their e-charging stations for electric vehicles, another remarkable use of blockchain technology that could change the world. This addresses the longstanding problem of the impracticality of electric vehicles on long distance trips. Whereas previously a vehicle may run out of charge on a lengthy trip, eCharge will allow users to charge their vehicles at stations across Europe.

eCharge has partnered with 120 hotels and hopes to partner with another 1,000 by the end of 2018. Users will be able to book and pay for charge slots using their native ECH tokens.

Chuck Reynolds


Marketing Dept
Contributor

Please click either Link to learn more about Bitcoin.
Interested or have Questions, Call Me, 559-474-4614

Industries That Blockchain Will Radically Transform Job Marketplaces

Industries That Blockchain Will Radically Transform Job Marketplaces

The term “cryptocurrency” is a misnomer.
 
A common misconception, held by many newcomers to the blockchain world, is that the technology’s potential lies solely in the banking and financial industry. In fact, the recent suggestion of the Indian government to rename cryptocurrency as “crypto assets”, and Warren’s Buffett’s belief that Bitcoin is not in any way a currency, are perhaps closer to the true nature of cryptocurrency than the commonly held belief that it is simply digital money.

Cryptocurrencies should not be seen as just money, but as tools. Blockchain technology, which underpins cryptocurrency, has potential in many more forms than just as a medium of exchange and store of value.

The application of this technology to industries as varied as supply chain management, fashion and publishing is a result of the innate flexibility of blockchain. The nature of a platform can be programmed to suit a variety of needs. The sooner an investor realizes this, the sooner they will see how exactly it might be applied to different industries, giving them a degree of clarity with can help them measure the potential of a project to disrupt a particular industry.

Given the immense potential of blockchain, we take a look at industries, one at a time, that will be upended by its imminent commercial arrival. The shown here is as folows:

Job Marketplaces

For a while now, the systems of employment have been changing.

Studies have shown that employees, along with with demands for good pay, wish for flexibility with work and the freedom to work from home. Employers have begun to take note that the mindset of employees and their criteria for happiness have changed while other studies have noted that the happiest employees are the ones who perform best.

Freelancing has grown immensely in popularity. While professionalism has grown on both sides, trust always remains an issue because there is currently no way to enforce it. Blocklancer wants to change that. The platform is essentially a freelance job portal where clients and freelancers can interact. Through the power of smart contracts, both parties are assured of their requested services. It is the freelancing portal freelancers love, but with the assurance of pay and delivery of work.

Chuck Reynolds


Marketing Dept
Contributor

Please click either Link to learn more about Bitcoin.
Interested or have Questions, Call Me, 559-474-4614

Marketing Shifts You’ll Need To Consider To Grow Your Customer Base This Year

Marketing Shifts You'll Need To Consider To Grow Your Customer Base This Year

I’m not a professional prognosticator,

 

but as someone who has been working in the direct marketing business for over 25 years and runs a remarketing firm, I think I have a pretty good sense about what’s keeping marketers up at night. As we look ahead to the rest of 2018, marketers will need to focus on customer acquisition. But how can companies uncover their best new prospects and reach out to them effectively?

Website Behavior Is A Primary Focus

In my conversations with major retail clients, I continue to hear the same thing: CRM files are offering marketers diminishing returns. This year, we’ll see a shift to new customer acquisition as a priority in order to help find new, productive sources of prospects. According to Gartner, 37% of marketing budgets in 2017 were spent on new customer acquisition.

In my own client work, I have come to believe that one of the most powerful tools a marketer has for new customer acquisition is the behaviors that can be observed on their own website. How does a marketer determine which behaviors are exhibited by high-value prospects who are likely to convert — and then scale that information across their prospect pool? Last year, while working with a national home food delivery service, we found that looking at certain pages — recipes, for instance — was strongly correlated with becoming a subscriber. We also found that other behaviors, such as adding a menu to the cart, actually did not result in many conversions, even when these cart abandoners were remarketed to.

Understanding which website behaviors most consistently lead to a sale can dramatically improve your campaign efficiency. It allows you to focus on prospects with the highest likelihood of converting. Don’t underestimate the value of this data. See what you can glean from your own analytics. Are there pages that seem to be visited right before someone "adds to cart"? Are there pages that get little to no traffic at all? Understanding the common pathways on your website, especially those that are valuable, is a great place to start.

The Best Data Wins

We’re now in an era when companies with the best collection of data are realizing the biggest improvements in ROI. Retailers need to look no further than Amazon to see that actionable data at scale is separating the major players from the competition. This trend is years old, and now it’s impacting everything from product recommendations to display advertising. When it comes to data, work backward. Starting with the end analysis goal in sight ensures you'll define the right data elements needed upfront. Campaign setup is the right time to think about the data capture you'll need, rather than after the fact, when you may discover that you didn't get what you need and it's too late to go back.

Machine Learning And AI Fuel Personalization 

Machine learning and AI aren’t new. But there is a new twist for 2018 that is taking personalization to a new level. Companies that are able to leverage machine learning to personalize at scale will find a bigger ROI. At MarTech last year, I was amazed at the number of companies using their vast CRM data stores to quickly update offers, channels and content at scale.

According to an IDC whitepaper sponsored by Criteo, 34% of marketing execs said they're moderately using personalization technologies, 32% are greatly using these technologies, and 10% claim to already have marketing communications completely digitized. To me, though, these personalization efforts have to happen holistically, across the entire sales ecosystem. Sure, you can personalize an email or social media post, but what about a direct mail program? At this point, personalizing digital is low-hanging fruit — direct mail is still an important channel available to us today.

So the goal becomes leveraging machine learning and AI, and making them the core of marketing operations so that they’re realizing massive returns in every channel. In 2018, a personalized message has even more power when it’s consistent across email, social and direct mail. This is going to be a big year. And with growing strides in technology, it’s up to marketers to leverage these three trends in order to drive an ROI that’s bigger than 2017.

Chuck Reynolds


Marketing Dept
Contributor

Please click either Link to learn more about Marketing.
Interested or have Questions, Call Me, 559-474-4614

 

 

Industries That Blockchain Will Radically Transform Our Energy

Industries That Blockchain Will Radically Transform Our Energy

The term “cryptocurrency” is a misnomer.

A common misconception, held by many newcomers to the blockchain world, is that the technology’s potential lies solely in the banking and financial industry. In fact, the recent suggestion of the Indian government to rename cryptocurrency as “crypto assets”, and Warren’s Buffett’s belief that Bitcoin is not in any way a currency, are perhaps closer to the true nature of cryptocurrency than the commonly held belief that it is simply digital money.

Cryptocurrencies should not be seen as just money, but as tools. Blockchain technology, which underpins cryptocurrency, has potential in many more forms than just as a medium of exchange and store of value.

The application of this technology to industries as varied as supply chain management, fashion and publishing is a result of the innate flexibility of blockchain. The nature of a platform can be programmed to suit a variety of needs. The sooner an investor realizes this, the sooner they will see how exactly it might be applied to different industries, giving them a degree of clarity with can help them measure the potential of a project to disrupt a particular industry.

Given the immense potential of blockchain, we take a look at industries, one at a time, that will be upended by its imminent commercial arrival. The shown here is as folows:

Energy

The energy industry is also hampered by middlemen.

Blockchain technology could change that by letting individuals buy and sell energy through smart contracts. The energy used by individuals in homes could form a microgrid where communities become resilient to power outages, as well as reduce the drain on the environment.

This is exactly what LO3 Energy has done by establishing the Brooklyn Microgrid. The company itself states it best – they want reimagine how power can be generated, conserved, traded and shared.

Power Ledger claims to be the world’s first commercially-available energy trading platform of its kind. Users can trade electricity with each other and receive payment in real time. What’s interesting is that users can sell power that they’ve stored on their solar panels. Any excess power that isn’t essential could be sold for money.

Grid+ works with Artificial Intelligence to study your energy consumption pattern and purchase energy accordingly. This platform involves a hardware unit. The AI-based smart energy agent has access to multiple energy markets and can also extra energy generated from solar panels.

Chuck Reynolds


Marketing Dept
Contributor

Please click either Link to learn more about Marketing.
Interested or have Questions, Call Me, 559-474-4614

Industries That Blockchain Will Radically Transform Forecasting/Trading

Industries That Blockchain Will Radically Transform Forecasting/Trading


The term “cryptocurrency” is a misnomer.

A common misconception, held by many newcomers to the blockchain world, is that the technology’s potential lies solely in the banking and financial industry. In fact, the recent suggestion of the Indian government to rename cryptocurrency as “crypto assets”, and Warren’s Buffett’s belief that Bitcoin is not in any way a currency, are perhaps closer to the true nature of cryptocurrency than the commonly held belief that it is simply digital money.

Cryptocurrencies should not be seen as just money, but as tools. Blockchain technology, which underpins cryptocurrency, has potential in many more forms than just as a medium of exchange and store of value.

The application of this technology to industries as varied as supply chain management, fashion and publishing is a result of the innate flexibility of blockchain. The nature of a platform can be programmed to suit a variety of needs. The sooner an investor realizes this, the sooner they will see how exactly it might be applied to different industries, giving them a degree of clarity with can help them measure the potential of a project to disrupt a particular industry.

Given the immense potential of blockchain, we take a look at industries, one at a time, that will be upended by its imminent commercial arrival. The shown here is as folows:

Forecasting/Trading

Trading on the stock market is difficult. Buying and selling stocks is not as easy as one would wish it to be, and settlement time and costs could be lowered with a technology like blockchain. tZERO is attempting to bring blockchain to online stock trading. This would reduce settlement time and costs, and increase transparency and auditability

Augur is a prediction market that has multiple possibilities, more than just stock market prediction. Users can ask questions about the outcome of a future event, and buy and sell shares on the outcome of markets they wish to participate in. For an in-depth guide, read our article on Augur.

Stox is an open-source Ethereum-based prediction market where “users can make their predictions to generate their portion of a stake for a specified event.” Their marketplace is a major selling point of their platform, though it does not seem any different from Augur.

Gnosis functions in a similar manner to the aforementioned platforms, with users gaining Olympia tokens for successful predictions.

Chuck Reynolds


Marketing Dept
Contributor

Please click either Link to learn more about Marketing.
Interested or have Questions, Call Me, 559-474-4614

 

Editors Say This Is The Biggest Problem With Your Content Marketing

Editors Say This Is The Biggest Problem With Your Content Marketing

If there’s one thing smart marketers know,
 
it’s that reaching and consistently engaging your audiences is key. And because it’s 2018, you know content is one of your best bets at getting in front of those audiences and building trust with them.You’ve followed the marketing trends shaping our industry, read the articles, and heard from brand leaders and speakers about all the value content has brought to their companies. With so much on the line, it’s natural to want to make the most of your content opportunity. We all want to maximize our investments and improve our performance.The thing is, when marketers try to get the most value out of their content, what I’ve seen a lot of them end up doing is something counterproductive: They want to mention themselves and their companies every chance they get.

The Problem of Promotion

Before I go any further, let me say that promotion isn’t inherently bad. Digital PR and advertising, for example, are great for promoting your brand and positioning yourself in a positive way in front of audiences. That’s their purpose. But it’s not the purpose of content marketing, and it’s definitely not going to get you anywhere with any online editor you’re pitching content to. The data on this speaks for itself. In “The State of Digital Media 2018,” my team found that 79 percent of editors say the biggest problem with content they receive is that it’s too promotional.

Editors and others who run online publications and media outlets basically all share one big goal: to deliver true value to their audiences and grow their readerships. That’s what they’re held accountable to. As marketing leaders, though, you aren’t exactly held to that same goal. You’ve got your own metrics and measures of success — and that’s where the disconnect comes from. But by meeting in the middle, you can work with publication editors in a way that helps you both meet your goals.

Steps to Eliminating Promotion in Your Content

When you focus on your audience, everyone wins. You position yourself as an industry thought leader by sharing your original expertise and educating others through your content, editors get content that’s free from promotion, and audience members get content they’ll love from outlets they trust. Here are three tips to help you ditch the self-promotion and start focusing on your audience:

Remember that it’s not all about you.

I still remember one of the best pieces of advice I ever received. When I started creating content, I got feedback on an article from someone I trusted. He reminded me that my articles aren’t really about me as the writer — they’re for my audience. It’s your responsibility as someone creating and using content to think of the members of your audience. Do everything you can to build and maintain your connection to them, and don’t do anything to risk that valuable relationship. So, ask yourself: Is this content more for me, or is it for my audience? If you can’t confidently say that it is specifically created to help your audience, then maybe you’re just adding to the problem.

Understand where publication editors are coming from.

Before you ever start creating content, you’ve got to know the rules of the publication you’re going to pitch it to. What does it consider too promotional? What tone does it like? What topics do well?This sounds pretty basic, but I’ve worked with editors at hundreds of publications in multiple industries for years, and you’d be surprised how many of them tell me they wish contributors would just read the publication first. Not every idea you have or article you write is a good fit for every audience. If you’re just producing content to get your name out there with no regard for the publication or its audience’s preferences, you’re going to have a hard time.

Work with a team to support you.

This is something I’m grateful for every time I publish. I work with a small content team that helps me refine my ideas and edit them professionally. Are they critical sometimes? Of course. But that’s part of what keeps content consistent and valuable. Each of us is inherently biased, so what you think is valuable and nonpromotional may not always be true for someone else. A skilled team can help you preserve your voice and your ideas without sacrificing your audience’s interests. If you can swing it, don’t go it completely alone. Content is an effective and easily scalable way for marketing leaders to reach and engage an audience, build influence, and generate meaningful returns. But to get the most value out of it, it’s time to rethink your tactics and leave the self-promotion behind. Your audience — and editors everywhere — will thank you for it.

Chuck Reynolds


Marketing Dept
Contributor

Please click either Link to learn more about Marketing.
Interested or have Questions, Call Me, 559-474-4614

 

Industries That Blockchain Will Radically Transform Credit

Industries That Blockchain Will Radically Transform Credit


The term “cryptocurrency” is a misnomer.
A common misconception, held by many newcomers to the blockchain world, is that the technology’s potential lies solely in the banking and financial industry. In fact, the recent suggestion of the Indian government to rename cryptocurrency as “crypto assets”, and Warren’s Buffett’s belief that Bitcoin is not in any way a currency, are perhaps closer to the true nature of cryptocurrency than the commonly held belief that it is simply digital money.

Cryptocurrencies should not be seen as just money, but as tools. Blockchain technology, which underpins cryptocurrency, has potential in many more forms than just as a medium of exchange and store of value.

The application of this technology to industries as varied as supply chain management, fashion and publishing is a result of the innate flexibility of blockchain. The nature of a platform can be programmed to suit a variety of needs. The sooner an investor realizes this, the sooner they will see how exactly it might be applied to different industries, giving them a degree of clarity with can help them measure the potential of a project to disrupt a particular industry.

Given the immense potential of blockchain, we take a look at industries, one at a time, that will be upended by its imminent commercial arrival. The shown here is as folows:

Credit

A lot has been said about blockchain disrupting the business of money, but the economy of credit and debt will also be similarly disrupted.

Blockmason, a project that is establishing a credit and debt platform, is seeking to bring blockchain to one of the biggest components of an economy, credit flow, that is estimated to be around $5 trillion in value. They plan to use the Ethereum blockchain to create a credit and debt ledger that features smart contracts.

WeTrust is platform that lets friends and families pool their money in together, in a process traditionally called a ROSCA. In bank-controlled ROSCAs, individuals leave the lending period with more money than they had before. However, the banks keep a sizable chunk of the interest. On WeTrust, the interest is kept within the ROSCA group since no third party is involved. This allows a group to support itself. In fact, WeTrust has been marketing this to friend and family circles. They also have a reputation system in place to ensure that no one backs out of an obligation.

PayPie’s objective as a blockchain-based credit project is to offer risk assessment algorithms derived from business accounting. The vast majority of SMEs undergo risk score checks and this is the niche that PayPie is seeking to serve.

Chuck Reynolds


Marketing Dept
Contributor

Please click either Link to learn more about Bitcoin.
Interested or have Questions, Call Me, 559-474-4614