Ending Blockchain cacophony: Focus on the problem and the customer
A characteristic shared by the majority of managers who have heard of Blockchain technology is that of confusion regarding its nature and possible application in business. This is due more to a lack of pedagogical capacity and little knowledge of the business problems from those who introduce this technology, rather than to its own complexity.
The result has been a proliferation of unintelligible discourses around concepts such as “smart contracts”, permitted chains, tokens, or consortia, among many other terms that are shown in the image that leads this note. Fortunately, those of us committed to the application of blockchain technology for solving business problems are already beginning to observe a definitive change in trend. And this is due to the efforts made to focus the discourse on what is truly relevant: the problem to be solved and the relationship with the client or consumer.
Blockchain technology has, for the time being, no rival to support this claim that companies address to their customers: Trust me! This proclamation supposes, on the part of the company, an assumption of full responsibility regarding the nature of the product or service delivered to its clients. It might seem that this statement should be a common pledge to all companies, but the truth is that not all of them are very willing to make for not considering it essential.
However, the new market circumstances derived from the pandemic and consumer demands make pivotal that commercial transactions are vested on the principles of trust and accountability. Unfortunately, deception is widespread and its consequences may become so serious that consumers have embraced a new attitude. They are already being described as cautious or wary.
On the other hand, the best-known brands have in turn a formidable competitor, their own unlicensed or directly counterfeit or refurbished products. Market volatility unleashes opportunistic behaviors that impact companies with reduced sales and profits, fluctuations in prices and margins, and brand erosion and lower market share. In this context, it is challenging for any company to draw the attention of a consumer who is annoyed with the lack of product quality and warrant, and the absence of responsibility from the companies that manufacture them.
These circumstances are ideal for the implementation of business solutions based on Blockchain technology. Directly in those cases in which companies seek to provide their products with a unique, unfalsifiable identification, an immediate and secure proof of authenticity, and an assurance of their origin and composition. And in doing so they can benefit from direct and personal communication with consumers, providing companies a better understanding and relationship with each one of them.
These are the main characteristics of the business solutions developed by BlockTac, to which many others are added, such as cost savings, swift implementation, absence of investments in technological infrastructures, or supply chain control. Clear and easy to understand solutions away from the cacophony of others.
P.S.: You can learn more about the BlockTac digital seals solution in this document…