Top 5 Reasons You Should Consider Blockchain Tech For Your Company
You’ve probably heard it enough times, but I’m here to tell you why blockchain tech is not all hype. Yes, 2017 was a bit of a bust, riddled with ICO scams and now, we are witnessing a rise in Ponzi schemes in the DeFi space. But every new, uncharted territory attracts bad players, especially in the beginning, but that doesn’t mean the technology is faulty. And with the rate at which news travels in the blockchain and crypto space, scams are easily avoidable as they’re exposed quickly.
Blockchain technology is the future. According to ReportLinker, “the global blockchain market size is expected to grow from USD 3.0 billion in 2020 to USD 39.7 billion by 2025”. The laundry list of reasons why is long. But one of the biggest reasons is because it’s clear that the current system, with its limited use of technology, is not working. Most companies are losing a lot of value whether it’s in being overstaffed or wasting a great deal of time and resources. The alternative is to simplify and streamline business processes, reduce operational costs and increase efficiency. The one technology that is truly capable of doing this is blockchain technology.
One of the most valuable features of blockchain technology lies in its distributed ledger technology. Information can easily and quickly be shared and confirmed (and safely encrypted) globally. Any company in the business of information or product creation can tremendously benefit from this technology – which means virtually all companies. This includes payment companies, financial services companies, companies relying on a supply chain (such as those in the food or retail sector), as well as real estate, legal services and much more.
Not only will blockchain technology bring about greater reliability of data, additionally “cost can be taken out of existing processes by removing intermediaries or the administrative effort of record keeping and transaction reconciliation,” according to a McKinsey & Co. report. According to IBM, retail giant Walmart, with over $500 billion in revenue per year, decreased food trace time from its store’s shelves to the farm from 7 days to only 2.2 seconds by using blockchain technology. Now think about how much that timesaving equates to cost-savings.
So what does this all mean for your company? It means you should take a serious look at your business model and assess where blockchain technology could fit. Could your company benefit from the adoption of blockchain technology? Could the implementation of such solutions lead to massive cost-savings and value creation for you and your customers?
If you’re not sure, that’s okay! Blockchain Collective is here to help. We are a team of digital natives who understand how to effectively implement blockchain solutions to any company. Our team of blockchain developers, infrastructure architects, project managers, and marketing experts can help you make the best use of this cutting edge technology that has left so many people unsure how to implement it – as well as the trailblazers who are already seeing this technology’s unending benefits.
There is still time to be an early adopter – don’t miss the boat on this opportunity. It’s totally free to talk to us and ask us questions. We’re genuinely passionate about this breakthrough technology. Contact us to see how we can help you. You can also learn more about us at blockchaincollective.co or read our blog where we cover anything and everything blockchain tech.