How blockchain is transforming business models

How blockchain is transforming business models

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Businesses are always in the search for the best business models in the market. Having an efficient business model that maximizes on profits and minimizes on cost can be the difference between market dominance and total annihilation for a business. Since its advent a decade ago, blockchain technology has continued to revolutionize business models globally. Blockchain-based software products, tokenization and peer-to-peer blockchain business platforms are just some of the ways in which blockchain is transforming business models.

Tokenization is one example of how blockchain is transforming business models. Tokenization is the creation of units of value, known as tokens, that enable a self-governing business model and allows users to interact with a company’s products. Tokens also facilitate the distribution of rewards and benefits to stakeholders.

Blockchain technology has enabled businesses to easily generate tokens. There are two types of tokens: utility tokens and security tokens. While utility tokens are coins that are backed up by a project, security tokens represent shares in a company. The tokens enable the business owner to generate capital from investors and also incentivize his clients to interact with his products and services.

Blockchain-based software products are yet another lucrative business model that has demonstrated how blockchain is transforming business models. Despite most businesses realizing the benefits of the technology, not all of them can afford to build blockchain applications. This has given rise to a high number of businesses that offer blockchain products and services.

Blockchain-as-a-Service has also emerged as a rapidly-expanding business model. As with any other technology, there are plenty of businesses which prefer to use it only for specific tasks. For these companies, it doesn’t make sense financially to incur all the setup expenses. They thus rely on companies that can provide blockchain platforms for a fee. IBM, Microsoft and Amazon have been some of the companies that have invested in this field.

While Bitcoin SV has established itself as the best enterprise blockchain, there are other development platforms that have sprung up. Other companies have also striven to provide businesses with development platforms which they can use to create their own customized decentralized applications.

Blockchain technology has also enabled scalable peer-to-peer business models. Businesses can develop blockchain applications that offer such services as file storage and music distribution while enjoying all the other benefits of blockchain technology such as tokenization. This increases efficiency, speed and security, all while keeping the costs low.

On October 1, global businesses will be in South Korea for the CoinGeek Seoul conference. Attendees will get to learn how they can maximize on the superior Bitcoin SV blockchain to build new business models and advance the ones in place. They’ll also get to interact with some of the brightest minds in the blockchain industry including the man who started it all, Dr. Craig S. Wright, better known as Satoshi Nakamoto. Don’t miss this once in a lifetime chance — buy your ticket today.

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 blockchain? Check out CoinGeek’s Blockchain for Beginners section, the ultimate resource guide to learn more about blockchain technology.