1. Welcome to Blockchain Business
In this chapter, we will explore the many applications of blockchain in the departments of a traditional business organization.
In this module of the Lisk Academy we will examine 4 key aspects of blockchain, how it is shaping business, how it can improve business further, as well as the phenomena of cryptocurrencies and ICOs.
This module is designed for a reader who is aware of the technologies and functionalities of blockchain technology. The goal is to help anyone who is looking to implement blockchain within their company or looking to interact with blockchain technology in an investment capacity.
The module starts with Chapter 1, explaining the various uses of blockchain technology within a traditional business, covering payment, marketing, HR, accounting and business intelligence.
Chapter 2 depicts a business that is already born in the blockchain space, detailing how they are different to the traditional model in terms of funding, community and regulation.
Chapter 3 covers cryptocurrencies, what they are and how to interact with them safely.
Finally, Chapter 4 details the ICO. What an ICO is, the whitepaper explained, how to participate in an ICO safely and the risks associated with doing so. Finally, we close out with some tips about how to run an ICO, based on interviews carried out with the President of the Lisk Foundation, Max Kordek.
After getting reading this module, a student of the Lisk Academy will have a far better understanding about how to implement blockchain technology, its unrivalled potential as well as how to start interacting with it and investing in it today.
Let’s Explore the Business of Blockchain.
2. Blockchain Uses in Business
A recent IBM study surveying over three thousand executives has shown that at least eighty percent are actively using, or planning to implement, some aspect of the blockchain technology into their everyday business. While the arrival of this technological breakthrough might not be immediately considered as good news by the majority of enterprises which still often rely on a traditional, central databases to generate revenue, the bottom line is that many aspects of this technological phenomenon are due for mass, multi-industry implementation. Businesses which choose to accept its arrival and learn how the dawn of blockchain will not only change, but also improve their way of operating, will be the ones to reap the rewards as early pioneers within their respective industries. In this chapter, we will explore how blockchain will be utilised the departments of your business in order to improve efficiency, secure processes and cut costs by removing unnecessary middlemen.