Saturday, April 13, 2024
CEOWORLD magazine - Latest - CEO Advisory - Entrepreneurs and Businesses Taking Advantage of Blockchain Technology

CEO Advisory

Entrepreneurs and Businesses Taking Advantage of Blockchain Technology

It seems like every day there is a new business in the headlines for making the move to blockchain technology. Just recently, these eight companies were highlighted for using blockchain to come up with new and creative ways to not only run their businesses but also to better serve their audiences as well.

This includes everything from supply chain management, retail loyalty points, value-based healthcare and more.

With blockchain technology usage growing at a rapid rate, it’s only a matter of time before you may find it being used within your existing business as well. To help with this process, today we are going to highlight three more entrepreneurs and brands that are using blockchain to not only get the upper edge within their industry, but to also change the way data, customer engagement, and business is done on the internet today.

A Better Way to Share, Link, and Reward for Sharing Content Online

On the internet, information is everything. Without the sharing of such content, the best findings and information simply wouldn’t be as useful at it is. At the same time, there likely wouldn’t be such a demand and focus on social media.

However, nearly all sharing of information and content on the internet today is free. What is there ways a way to incentive and reward the process of sharing content with others?

That is exactly what the team at 2Key is trying to accomplish with their decentralized network that rewards users for sharing content online. The concept sounds simple enough, and the technology is already out there, but not in a way that takes advantage of blockchain technology or is affordable. When the technology is broken down into the following three components, it’s much easier to understand, while also seeing where the benefit is for both brands and the end users.

  • Technological company – 2Key is a technological company. Developing technology is their background and their team is all about the multi-step tracking web protocol that ensures to execute their vision.
  • The Incentive Model – In addition to rewarding everybody on the chain of sharing, 2Key’s big differentiator also penalizes users for sharing content that did not convert among others. This is incentivizing the people to share only interesting content that they believe could convert. This will clean up the web from spam and irrelevant content.
  • Users gain, big platforms don’t – Instead of opening a campaign on Facebook or on Google, with 2Key the users are making the profit.

Erez Ben-Kiki, the CEO, and Co-Founder of 2Key, wants to create a network that is a P2P platform enabling anyone to seamlessly mobile the human web to produce results. The benefit here for businesses and brands is the ability to incentive the human network to share the message, while also having goals set in place (whether that be clicks, shares, or leads), with an advanced tracking platform in place.

Rewarding and incentivization would be accomplished through the 2Key Tokens, which will soon be available through the platform when released.

Accessing Cloud Storage with More Features, Customization and Safety

When you think of “cloud storage”, you probably think about uploading your pictures, documents, and personal information to the cloud in the sky. This is often done through solutions like Apple, Amazon, or Google. However, cloud storage is also a big discussion when privacy and security come to mind. Remember all of the celebrity cloud accounts getting hacked?

With all of this in mind, Storj is a cloud storage company that was created off the idea of using blockchain technology while also rewarding users for their unused storage space.  It’s an interesting concept, and one that is explained fairly well through the whiteboard animation video on their site, where they also state “It’s potentially the largest, cheapest, and most secure cloud community available.”.

When you first visit the Storj website, once can start to imagine how great this concept and technology can really be. In comparison to other cloud storage platform, here’s what Storj has to say about their technology and why it stands out from the competition.

With an AWS S3 compatible interface, each file is encrypted, broken up into pieces and then distributed across the network. Only the data’s owner has the keys to access their encrypted files, providing seamless security and privacy right out of the box.

In an interview with VentureBeat, Storj founder Shawn Wilkinson said, “Simply using excess hard drive space, users could store the traditional cloud 300 times over,” much like how you can rent out your home or room on Airbnb. Wilkinson also said, “Considering the world spends $22 billion + on cloud storage alone, this could open a revenue stream for average users, while significantly reducing the cost to store data for companies and personal users.”

The most interesting aspect of all of this is to see how companies like Google, DropBox and Amazon will adapt with such new technology, or how they might simply just acquire any businesses or brand that are already finding their way in the industry.

Change” the Way We All Think About Personal Finance and Payments 

Paypal completely changed the way we all think about personal finance, accepting money, and making payments online. With blockchain technology making its way into the world of finance and cryptocurrency getting more attention than ever, it’s only a matter of time before we see more progressive movement and technology usage in this space as well.

One Singapore startup that is already making a name for themselves, is Change.

In a recent interview with e27, the team behind the company explained their technology and platform as “Change facilitates the storage of all major cryptocurrencies, easy management of crypto portfolios and the simple transfers of funds between peers. We’re also building a marketplace which will allow the addition of many other functionalities and services. We’ve designed a user experience which is clean, simple and secure.”.

When taking a moment to compare Change to other digital wallets like Coinbase or Etoro, you will find that Change doesn’t charge a fee for their account setup, crypto purchases, trading fees, or even a commission to withdrawal funds.

While there are already several ‘digital wallets’ available, Change is trying to differentiate themselves through their security, blockchain technology, and building a team of respected investors and brilliant minds around the company.

Blockchain Technology is on the Rise!

There is no doubt that blockchain technology is here to stay. The only question is, how will you be using it for your business, brand, and audience?

Even if you are drawing a blank on the many different ways you can start implementing this technology into your own business, it’s only a matter of time before a similar story like the ones above is featured in the news.

With this in mind, pay attention to not only those making headlines but also your competition and influencers within your market. Change is coming… and you need to make sure you are part of it!

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CEOWORLD magazine - Latest - CEO Advisory - Entrepreneurs and Businesses Taking Advantage of Blockchain Technology
Zac Johnson
Zac Johnson is an entrepreneur with more than 20 years of experience in the world of online marketing, business and branding.