Navigation

Related Articles

Back to Latest Articles

6 Ways the Blockchain Technology Can Change Entrepreneurship


Sentiman io
6 Ways the Blockchain Technology Can Change...
permissioned blockchain technology

With the current increase in the rate of adoption of the Blockchain technology coupled with the increasing advancement of the technology, many would wonder how exactly the technology can be harnessed by entrepreneurs to change the face of entrepreneurship.

Here are few ways by which the Blockchain technology can change the present phase of entrepreneurship worldwide.

1. Blockchain Technology Can Be Used to Increase Access to Entrepreneurship Education

Nowadays, people from all walks of life and all age brackets are showing an increasing interest in entrepreneurship, while a number of them do not simply have the time or right resources to seek further education from formal institutions. For instance, how possible would it be for someone who has a 9-to-5 job and trying to launch his or her own business be able to find sufficient time to enroll in an MBA program.

Where formal education isn’t required, many new entrepreneurs seek affordable, reliable, and flexible educational options to help them develop the right skills needed to launch their businesses. The blockchain technology can be adopted in this case to make learning process accessible to everyone. SuccessLife is currently using blockchain tokens to offer video content, digital courses and personal coaching to aspiring entrepreneurs, covering topics such as management and investment techniques.

The token’s immutable ledger and automatic smart contracts render the transactions that provide these educational opportunities reliable and cost-effective. Entrepreneurs only need an internet connection to access the educational content.

Recommended:

What 2018 Holds for Blockchain-based Technology

2. Blockchain Technology Unlocks Crowdfunding Opportunities

Another newsworthy contribution of the blockchain technology to entrepreneurship is its effect on crowdfunding campaigns. In fact, blockchain firms raised about $5.6 billion in funds in 2017, mostly driven by community campaigns. This blockchain-based fundraising model has proven so successful that it’s attracting plenty of mainstream investment.

Despite the success of blockchain-centric crowdfunding campaigns, the traditional crowdfunding market is still extremely inefficient. Only 1.9 percent of campaign funds go to developing countries and 78 percent of campaigns fail to reach their targets. The lack of accessibility has led some innovative companies to combine blockchain with traditional crowdfunding to give power back to entrepreneurs around the globe.

For instance, Acorn Collective is one firm that offers a second-generation open marketplace for new ventures seeking crowdfunding. Any legal new project whose founder passes primary screening can make a pitch on the Acorn platform.

Blockchain makes the crowdfunding process transparent, safe and accessible from any region. On the platform, a crowdfunding engine helps entrepreneurs rally marketing support, maximizing the chance of a successful project.

3. Blockchain Technology Unlocks Provides user-friendly financial tools

More new enterprises have adopted the use of digital currencies in addition to fiat currencies so as to efficiently manage their financing, whether that takes the shape of a token sale or an entrepreneur raising funds through adroit trading on cryptocurrency exchanges. However. managing multiple fiat and cryptocurrency accounts, however, has always been a complicated task.

Zerta is a next-generation trading platform built by a leading team of exchange technologists and entrepreneurs. Zerta connects an exchange, a crypto and fiat wallet, and a bank in a single ecosystem. According to the co-founder of Zerta, Paruyr Shahbazyan:

“We are taking the crypto-trading market up to the level of traditional markets and stock exchanges.”

As crypto adoption becomes more prevalent, it is important to focus on education and ease of use, especially within financial services. For Zerta, this means personalization and customizable interfaces to help users of all experience levels trade, send and receive payments and engage with a community of like-minded people. User-friendliness is the focus.

4. Blockchain Technology Cultivates New Investment Opportunities

Entrepreneurs in every industry are constantly looking for new ways to diversify their investments, and the introduction of coin-based transactions is opening up new possibilities. For example, Muirfield has decades of experience facilitating private equity investment opportunities.

Now, as blockchain becomes increasingly common across industries, Muirfield IP is rumored to be launching its own Tokenized Asset Offering in 2018. Not only do token-based opportunities open up the doors for new entrepreneurs to purchase assets, facilitating a TAO also ensures that the laws and regulations regarding security tokens are strictly followed.

5. Blockchain Technology Develops Customer-loyalty Platforms

Customer loyalty is essential for all businesses. To nurture business-customer relationships, many entrepreneurs try to create customer-loyalty programs. Such programs, however, can require more technological headaches and bookkeeping hurdles, which create one more datum field for entrepreneurs to track and manage.

Blockchain is an ideal tool for helping entrepreneurs develop low-stress customer-loyalty programs, rewarding repeat customers with special incentives and fostering close relationships.

How the Blockchain’s automatable transaction ledger can keep track of customer interactions and adjust customers’ loyalty status appropriately. For instance, Blockpoint, enables its users to quickly set up blockchain-based loyalty programs to integrate with their existing businesses.

6. Blockchain Technology Creates Reliable Agreements

Entrepreneurs thrive in a network of mutually supportive relationships that allow them to launch their ventures. Many of these relationships, such as a relationship between investors and founders, take the form of official or unofficial contractual agreements. When these agreements fall through, entrepreneurs struggle. For example, a product launch may be faced with ruin if a deal with a manufacturer collapse.

Blockchain signatures and smart contracts provide effective, affordable options for entrepreneurs seeking reliable legal contracts. DocTailor, for example, is one of the Companies that offer tools for users to build and customize legal agreements and smart contracts on the blockchain. Another company, Tennessee, recently made smart contracts legally binding in the state, and other locales seeking to nurture tech innovation are likely to soon follow their lead.

Here are few important ways through which the Blockchain technology can change entrepreneurship. If entrepreneurs can carefully maximize thee ways, they would definitely reap the dividend of Blockchain technology.

More so, the permissioned blockchain, the latest development to the Blockchain technology which does not back any cryptocurrency would mean a better use for entrepreneur due to it improved speed and efficiency.

If you have any other way through which the blockchain technology can be of best use to entrepreneurs, kindly share with us in the comment box.

The post 6 Ways the Blockchain Technology Can Change Entrepreneurship appeared first on Cryptomartez.

,

permissioned blockchain technology

With the current increase in the rate of adoption of the Blockchain technology coupled with the increasing advancement of the technology, many would wonder how exactly the technology can be harnessed by entrepreneurs to change the face of entrepreneurship. Here are few ways by which the Blockchain technology can change the present phase of entrepreneurship worldwide. 1. Blockchain Technology Can Be Used to Increase Access to Entrepreneurship Education Nowadays, people from all walks of life and all age brackets are showing an increasing interest in entrepreneurship, while a number of them do not simply have the time or right resources

The post 6 Ways the Blockchain Technology Can Change Entrepreneurship appeared first on Cryptomartez.

,,

Related Articles

Hedge Against the Stock and Crypto Markets with This Massive (Tokenized) Copper Mine

Investing in traditional global industries is a privilege that’s inaccessible to most of the world’s population today, even as global poverty continues to drop in the 21st...

Posted on

Quadrigacx Battles Bank Over $21.6M in Frozen Funds

Cryptocurrency exchange Quadrigacx has blamed an ongoing legal dispute over $21.6 million worth of funds that were frozen by the Canadian Imperial Bank of Commerce (CIBC) in...

Posted on