How Blockchain Can Protect Your Startup Business?

Working in the cryptocurrency industry in 2018 is like being the most interesting person at a party: Everyone is curious about you, everyone wants to learn more about what you do and everyone has questions.

There is something enigmatic about crypto companies. The market overall is on track to exceed 1 trillion in value this year, despite recent losses, and that trend is expected to accelerate going forward. 30 percent of  LinkedIn’s List from the top 50 start-ups in 2018 are in the crypto space, and venture capital investment. Stereotypes or not, clearly something is happening here.

Here’s what the industry is really like:

It’s full of bright minds.

Start-ups attract risk takers and overachievers, people who want to do something impactful. Crypto start-ups, in particular, are attracting some of the top tech and finance talent in the world because the industry provides some of the best opportunities for innovation in their respective fields.

It wants legitimacy.

This isn’t the Wild West as it is often depicted; crypto is growing into its place in the mainstream and no one involved in this industry wants there to be questions about its legitimacy or its underlying technology.

It’s bringing opposites together.

Crypto attracts both technical engineers and financiers. It’s a challenge to overcome but also a great opportunity to find synergy in the convergence of advanced technology and financial services. Both sides are benefiting.

It cares about laws.

Crypto got a bad rap early but times have changed. Now, everyone who is truly interested in its sustainability is working tirelessly to advance the good that’s happening here. Bitcoin continues to make inroads as a viable currency, exchange activity is stabilizing around a few well-respected projects and the market is growing.

There’s a cult of personality.

Early adopters of crypto and blockchains are true believers. They’re motivated by higher purpose than just the financial gain that drives so many crypto speculators. The word “scam” is the dirtiest of four-letter words. There is a strong desire to establish an ubiquitous understanding of the possibilities of widespread crypto use and blockchain-based transactions. It’s an energy and enthusiasm that is unlike any I’ve ever experienced in my career.

Yes, this industry is young and male. The lack of diversity and examples of blatant and implicit biases in crypto are well documented. Although it’s difficult to measure, it’s estimated that men hold approximately 85 percent or more of cryptocurrency wealth. Most products and marketing in this industry are geared toward men. As a result, crypto has perpetuated the wealth gap between men and women.

Diversity has a place at the table.

But, women and people of colour are not unrepresented in this space and more are continuing to enter the diverse and talented industry. Crypto start-ups, given their progressive and innovative nature, have a unique opportunity to change the story line and deliver on its founding principle of democratized access to wealth.

The industry still has a long way to go, but change is happening and the energy is infectious.

So how will blockchain help businesses? Here are some tips :

  1. Get funded with blockchain-powered ICO.

Imagine you have a great business idea, but you do not have the funds needed to move your vision forward. It’s a common problem for beginning entrepreneurs. Traditional venture capital is notoriously tough to get.

Blockchain technology’s initial coin offerings (ICOs) spell glad tidings for aspiring entrepreneurs. Think of ICOs as a way to democratize start-up funding. They provide a platform to raise money from individual investors, assuring emerging entrepreneurs no one is in it alone.

You have nothing to fear, no time to waste and nothing to lose.

  • Refine your idea.
  • Set up the blockchain for your new token.
  • Receive seed capital to fund your new venture.

Do your homework — thoroughly. Ensure you have the technical expertise to consume all the goodies the ICO has to offer. Hire a developer to assist you in this endeavour to make sure your blockchain-powered ICO serves not only as a fundraiser but also as a tool to create steady growth.

  1. Use Blockchain to Create a New Future (for Digital Marketing)

How do you promote your business, in an era of attention-grabbing, pervasive online ad fraud? Marketing your business is just as challenging as building and running it.

Start-ups may at times bombard their customers with torrents of newsletters, how-to guides, coupons and countless numbers of ads. The pleas generally lack focus because business leaders don’t actually know what, exactly, their customers want. They’re simply hoping their messages will appeal to enough of their customers. Crypto can professionally target key customer groups with messages that resonate with them. Blockchain combines a superb level of tracking and transparency with the ability to collect accurate data. Altogether, this ensures optimal frequency of ad display for each customer.

  1. Protect your enterprise with cryptography.

Cryptography can defend your ecommerce site, protect your online data and secure your company files better than any other solution. Powered by digital signature as well as private and public keys, cryptography is impenetrable in today’s digital ecosystem. That’s because it transmits information in codes, keeping data unreadable to unauthorized users.

You can take cryptography beyond protecting your primary company data. It also can help authenticate customers, separating real buyers from cyber criminals. Transaction records are verified every single time they are passed on from one blockchain node to the next.

  1. Keep embracing new technologies.

No matter how difficult your traditional idea seems, technology can make it look simple and seamless. Whether you want to start a business or scale the one you already run, blockchain can help you in many ways:

  • It can help you with funding, with ICOs.
  • It can help you with marketing, thanks to its accurate tracking and transparency.
  • It can help you with security, with its cryptographic system.

Contact GMX for your legal matters related to blockchain, fintech, cryptocurrency, Initial Coin Offerings (ICOs), Exchanges and distributed ledger technology projects.