Blockchain can be a competitive advantage for companies

Blockchain can be a competitive advantage for companies

The use of blockchain in business can be competitive advantage if it upgrades a product that does not use this technology, says business consultant

Blockchain can be a competitive advantage for companies

By Editorial Staff

The blockchain can be a competitive advantage for companies. But it will only succeed if it is used to upgrade a product that can be used by as many people as possible. And who is affirming this is the CEO of Reputy and business consultant, Michael Knobel, who gave a lecture on business success at the Blockmaster Forum in São Paulo.

Reputy is a company that has an application that uses artificial intelligence and blockchain to create a marketplace for professionals.

According to Knobel, customers will not care if you use the blockchain. And it goes further: in order to have a mass-oriented technology, people who use it do not need to understand it.

 “For example, no one will choose a crypto credit card that charges 1% if they can use an ordinary one that gives 2% cashback”, he pointed out.

Therefore, according to the entrepreneur and consultant’s view, any blockchain product has to create value both for those who offer and for those who use it.

Blockchain can be a competitive advantage for Central Banks

Knobel also dared some guesses about the world economy in his lecture. He said the next major global crisis will be produced by the central banks or something external will hit them. This can be a trigger or an opportunity for them to enter into the blockchain.

The statement occurred the week before the announcement that the Central Bank of Brazil is updating its payment system for real time.

The idea of the Central bank with the new system is to end up with operations like TED and DOC and implement a network that will allow sending values in a few seconds 24h a day, every day of the week.

The measure can favor the bitcoin industry and cryptocurrencies in the country, mainly  in the case of buying and selling, as it will allow operations such as deposit and withdrawal in exchanges also on weekends and out of business hours. In addition, fintechs that operate with cryptocurrencies as a form of payment can also be benefited by the decision.