Home Blockchain Want to Better Connect With Your Customers? Consider Blockchain. – Entrepreneur

Want to Better Connect With Your Customers? Consider Blockchain. – Entrepreneur

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Major players are investing in blockchain technology to provide more incentive for users.


6 min read

Opinions expressed by Entrepreneur contributors are their own.


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.

Transparent Profit-Sharing in Action

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).

Per its founders, CoinCasso is offering cost effective opportunities for their clients and users, while other exchanges are exploiting the exchange concept. In spite of lip service to blockchain, most exchanges have moved toward centralization, leaving users to foot the bill.

Ozimski reiterated these sentiments, telling me that CoinCasso found errors with the current exchange system — errors they seek to solve.

“The problem with the cryptocurrencies are the exchange platforms. They start centralizing the whole system, destroying the concept of a decentralized economy. They always make a profit, whether the whole market is going up or down,” said Ozimski. “Even if the whole market is going down, the platform is making a profit, and people are losing money. Our platform is the first cryptocurrency exchange platform that share our profit with the people, at approximately 80 percent. We want to democratize our network, democratize our users, and build community.”

The promise of democratized profits might seem far-fetched. However, in spite of retaining just 20 percent of profits, the company is growing. The reason? Through this concept, CoinCasso authenticates the immense worth they place on their user base.

Blockchain technology has allowed such platforms to grow by increasing user functionality while reducing centralized overhead. CoinCasso may be the first of a new wave of such companies, but watching larger enterprise and consumer businesses jump in and follow the trend is also telling.

Bridging to Consumers

Beyond simple profit share with users and tokenization features, blockchain technology is also allowing companies to increase user loyalty and customer rewards. Because blockchain allows for transparent interaction between platforms, it also allows consumers to migrate between platforms, increasing usefulness for reward programs.

For example, Singapore airlines recently launched its KrisPay application, which allows users to migrate rewards points for use with affiliates. The transfer is functional in real time through a digital wallet, meaning that consumers have constant access to those points for use at merchants.

This type of flexibility is available through the blockchain-based digital wallet, providing bridges between providers and customers. Such connections result in clients who are no longer restrained to long transfer processes, or bureaucratic red tape for usefulness of loyalty programs. As loyalty programs continue to evolve, the need for these types of solutions will increase for companies wishing to remain on the cutting edge of consumer expectation.

Ever-Changing Business Technology Needs

If you started a business 10 to 15 years ago, you likely focused on building a comprehensive website, incorporating keywords, and optimizing your Google ads. If you have not yet updated your strategy, chances are, your relevance is waning. Blockchain-based incentive marketing programs are trending and now is the time for entrepreneurs to jump in. The pool is warm.

If your start-up launched in the past five to eight years, the focus was undoubtedly on social media. You worked hard to build a strong presence on Facebook, Twitter and Instagram, accruing followers and views. Then Facebook and Instagram changed their algorithms, and overnight, your visibility plummeted.

If you are a relative newcomer to the entrepreneurial scene, there is a good chance your tech focus leans strongly toward interactivity, and you may have built a platform that is community and relationship focused.

Regardless of where your technology systems are at, consider incorporating blockchain technology into a consumer-focused incentive system. While the cost to build such systems may be moderate, the user relevance and loyalty your business will gain is invaluable.

 

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One Comment

  1. Emmanuella Love

    19/06/2019 at 23:50

    Hey, how’s it going?

    I want to pass along some very important news that everyone needs to hear!

    In December of 2017, Donald Trump made history by recognizing Jerusalem as the capital of Israel. Why is this big news? Because by this the Jewish people of Israel are now able to press forward in bringing about the Third Temple prophesied in the Bible.

    Jewish Rabbis have publicly announced that their Messiah will be revealed in the coming years who will be a leader and spiritual guide to all nations, gathering all religions under the worship of one God.

    Biblical prophecy tells us that this Jewish Messiah who will take the stage will be the antichrist “who opposes and exalts himself above all that is called God or that is worshiped, so that he sits as God in the temple of God, showing himself that he is God” (2 Thessalonians 2:4). For a time he will bring about a false peace, but “Therefore when you see the ‘abomination of desolation,’ spoken of by Daniel the prophet, standing in the holy place (Matthew 24:15)…then there will be great tribulation, such as has not been since the beginning of the world until this time, no, nor ever shall be” (Matthew 24:21).

    More importantly, the power that runs the world wants to put a RFID microchip in our body making us total slaves to them. This chip matches perfectly with the Mark of the Beast in the Bible, more specifically in Revelation 13:16-18:

    “He causes all, both small and great, rich and poor, free and slave, to receive a mark on their right hand or on their foreheads, and that no one may buy or sell except one who has the mark or the name of the beast, or the number of his name.

    Here is wisdom. Let him who has understanding calculate the number of the beast, for it is the number of a man: His number is 666.”

    Referring to the last days, this could only be speaking of a cashless society, which we have yet to see, but are heading towards. Otherwise, we could still buy or sell without the mark amongst others if physical money was still currency. This Mark couldn’t be spiritual because the word references two different physical locations. If it was spiritual it would just say in the forehead. RFID microchip implant technology will be the future of a one world cashless society containing digital currency. It will be implanted in the right-hand or the forehead, and we cannot buy or sell without it. Revelation 13:11-18 tells us that a false prophet will arise on the world scene doing miracles before men, deceiving them to receive this Mark. Do not be deceived! We must grow strong in Jesus. AT ALL COSTS, DO NOT TAKE IT!

    “Then a third angel followed them, saying with a loud voice, “If anyone worships the beast and his image, and receives his mark on his forehead or on his hand, he himself shall also drink of the wine of the wrath of God, which is poured out full strength into the cup of His indignation. He shall be tormented with fire and brimstone in the presence of the holy angels and in the presence of the Lamb. And the smoke of their torment ascends forever and ever; and they have no rest day or night, who worship the beast and his image, and whoever receives the mark of his name” (Revelation 14:9-11).

    People have been saying the end is coming for many years, but we needed two key things. One, the Third Temple, and two, the technology for a cashless society to fulfill the prophecy of the Mark of the Beast.

    Visit http://WWW.BIBLEFREEDOM.COM to see proof for these things and why the Bible truly is the word of God!

    If you haven’t already, it is time to seek God with all your heart. Jesus loves you more than you could imagine. He wants to have a relationship with you and redeem you from your sins. Turn to Him and repent while there is still hope! This is forever…God bless!

    “EITHER HUMAN INTELLIGENCE ULTIMATELY OWES ITS ORIGIN TO MINDLESS MATTER OR THERE IS A CREATOR…” – JOHN LENNOX

    We all know God exists. Why? Because without Him, we couldn’t prove anything at all. Do we live our lives as if we cannot know anything? No. So why is God necessary? In order to know anything for certain, you would have to know everything, or have revelation from somebody who does. Who is capable of knowing everything? God. So to know anything, you would have to be God, or know God.

    A worldview without God cannot account for the uniformity and intelligibility of nature. And why is it that we can even reason that God is the best explanation for this if there is no God? We are given reason to know or reject God, but never to know that He does not exist.

    It has been calculated by Roger Penrose that the odds of the initial conditions for the big bang to produce the universe that we see to be a number so big, that we could put a zero on every particle in the universe, and even that would not be enough to use every zero. What are the odds that God created the universe? Odds are no such thing. Who of you would gamble your life on one coin flip?

    Is there evidence that the Bible is the truth? Yes. Did you know that the creation accounts listed in the book of Genesis are not only all correct, but are also in the correct chronological order? That the Bible doesn’t say the Earth was formed in six 24-hour days but rather six long but finite periods of time? That the Bible makes 10 times more creation claims than all major “holy” books combined with no contradictions, while these other books have errors in them? The Bible stood alone by concurring with the big bang saying, “In the beginning God created the heaven and the earth” (Genesis 1:1); and says our universe is expanding, thousands of years before scientists discovered these things. Watch a potential life-changing video on the front page of http://WWW.BIBLEFREEDOM.COM with Astronomer(PhD) Hugh Ross explaining all these facts based on published scientific data. He has authored many books, backed even by atheist scientists.

    Jesus came to pay a debt that we could not; to be our legal justifier to reconcile us back to a Holy God; only if we are willing to receive Him: “For the wages of sin is death…” (Romans 6:23).

    God so loved the world that He gave us His only begotten son, so that whoever believes in Him, through faith, shall not perish, but have everlasting life. Jesus says if we wish to enter into life to keep the commands! The two greatest commands are to love God with all your heart, soul, strength, and mind; and your neighbor as yourself. All the law hang on these commands. We must be born of and lead by the Holy Spirit, to be called children of God, to inherit the kingdom. If we are willing to humble ourselves in prayer to Jesus, to confess and forsake our sins, He is willing to give the Holy Spirit to those who keep asking of Him; giving us a new heart, leading us into all truth!

    Jesus came to free us from the bondage of sin. The everlasting fire was prepared for the devil and his angels due to disobedience to God’s law. If we do the same, what makes us any different than the devil? Jesus says unless we repent, we shall perish. For sin is the transgression of the law. We must walk in the Spirit so we may not fulfill the lusts of the flesh, being hatred, fornication, drunkenness and the like. Whoever practices such things will not inherit the kingdom (Galatians 5:16-26). If we sin, we may come before Jesus to ask for forgiveness (1 John 2:1-2). Evil thoughts are not sins, but rather temptations. It is not until these thoughts conceive and give birth by our own desires that they become sin (James 1:12-15). When we sin, we become in the likeness of the devil’s image, for he who sins is of the devil (1 John 3:8); but if we obey Jesus, in the image of God. For without holiness, we shall not see the Lord (Hebrews 12:14).

    The oldest religion in the world is holiness through faith (James 1:27). What religion did Adam and Eve follow before the fall? Jesus, Who became the last Adam, what religion does He follow? Is He not holy? He never told us to follow the rituals and traditions of man but to take up our cross and follow Him (Luke 9:23). There are many false doctrines being taught leading people astray. This is why we need the Holy Spirit for discernment. Unlike religion, holiness cannot be created. It is given to us from above by the baptism of the Spirit. Jesus is more than a religion; He is about having a personal relationship with the Father. Start by reading the Gospel of Matthew, to hear the words of God, to know His character and commandments. Follow and obey Jesus, for He is the way, the truth, and the life!

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