A different way of looking at Blockchain
Blockchain technology has always described itself in terms of trust protocols and the secure transmission of value… But if you think about these terms further, and as I meet more and more potential customers and partners, the definitions of these terms becomes broader and broader.
Now there are plenty of single solution blockchain businesses out there that ensure diamonds can be traced back to the mine they came from, or that your bananas can be paid for in cryptocurrency without anyone ever knowing you like bananas. Hell you can even watch ‘adult films’ safe in the knowledge that the blockchain has your back. But if you are setting up a broader business that is building its own blockchain and ecosystem that allows a whole spectrum of real-world applications, you start having some very interesting conversations with some very big clients.
Just imagine you are an engineer in the aerospace industry, or a manufacturer of mountain climbing gear, the word ‘trust’ starts to have a different kind of importance. Perhaps it even starts to look a lot like accountability, especially when safety is one of your paramount concerns. And especially considering the global spread of manufacturing and supply. Just think about that supply chain… Is that part that you ordered the one that arrived? Was it made in the way you stipulated? Does it have the same safety standards as the other parts?
Perhaps that jet engine has thousands of components, from dozens of suppliers, you would want to know these parts are manufactured and shipped with the highest quality control wouldn’t you?
It’s not just about trust it’s also about safety.
Well, this is all pretty standard in the world of blockchain example cases… Now think, what would happen to your insurance costs if you underwrite them with a 100% guarantee of the highest standards of practice in your industry… then perhaps that has value in and of itself, and the level of trust may well come into play next time you are looking to get your insurance renegotiated.
So maybe alongside the trust protocol, comes the term safety, and then perhaps our blockchain solutions can give businesses, who put quality and safety first, a real competitive advantage. Just think, instead of cutting corners and cost, businesses are encouraged, through real-world benefits, to invest properly in quality and infrastructure, that ensures our world becomes a safer place to be.
So next time you’re clambering up Everest with your existence hanging by a rope, spare a thought for the blockchain, and pray that the people who made that rope have been talking with Omnitude.