As blockchain technology continues to break into the current business models, business owners have continued enjoying the benefits it brings. The Bitcoin SV blockchain has especially stood out, with its massive scaling and low transaction fees changing the game for many businesses. The integration of this technology has introduced new business models, enabling businesses develop blockchain revenue streams and get a competitive edge.
Monetization of data has emerged as one of the most promising blockchain revenue streams. Previously, all the data collected by a business has ended up in the hands of big tech firms or other tech-savvy firms who are better equipped to handle it. These firms used to monetize this data and keep all the profits. However, blockchain technology has changed all that.
Business owners who integrate blockchain technology get to store the data on an immutable ledger whose security is second to none. They can then monetize these data, receiving compensation from entities that seek access to it. With Bitcoin SV enabling microtransactions thanks to its extremely low fees, business owners can receive even the small payments in real-time.
Businesses can also sell data between themselves on the blockchain, cutting out the middleman. This reduces the cost of acquiring valuable business data, growing the profits for businesses.
Blockchain technology also reduces the business costs in several ways. Firstly, with transactions costing less than a cent on the Bitcoin SV blockchain, businesses spend less on their day-to-day payments. The payments are also in real-time, even when they are made between businesses in different countries. The traditional SWIFT-based systems take at least three days to process cross-border transactions.
Businesses also get to boost productivity by having access to and sharing data with other businesses on the blockchain. Blockchain technology allows its users to share data transparently. This enables businesses to be better equipped to handle manufacturing and distribution of their products. For instance, a retailer can share the sales patterns with a producer, enabling the producer to plan his production accordingly. This saves the producer money which he would have lost by producing goods that weren’t in demand.
Bitcoin SV enables businesses to reap all these benefits with its ability to scale, fast transactions and low fees. Business owners must therefore attend the CoinGeek Seoul conference on October 1 where they will learn how to enhance the power of Bitcoin SV to create new blockchain revenue streams. The attendants will get to interact with some of the leading minds in the blockchain industry. Grab your tickets now.
Get 20% off the CoinGeek Seoul conference tickets when buying with BSV, plus conference attendees can also take advantage of exclusive discount to the Le Meridien Seoul. Check out this link, select “Group code” at the Special Rates tab and simply type the promo code RE1RE1A to receive the hotel discount.
New to Bitcoin? Check out CoinGeek’s Bitcoin for Beginners section, the ultimate resource guide to learn more about Bitcoin—as originally envisioned by Satoshi Nakamoto—and blockchain.