As of late, we see news of major banks, governments and even corporate giants instituting blockchain technology into their business platforms.
But, we are just “little guys,” how exactly can we use and benefit from blockchain technology?
That is exactly what I asked some time back. As my partner, Steve and I focused on the possibilities of blockchain, we realized that entrepreneurs could use this technology to keep pace with the large businesses.
We founded the decentralized Nasgo blockchain for entrepreneurs. It is a cost efficient way to bring your brand… your business structure into a blockchain system to help you grow your business.
So how exactly can you use blockchain? Let me give you some ideas…
#1 Ways Entrepreneurs Can Use And Benefit From Blockchain Technology: Eliminate Tedious Background Checks
Be it an employee, contracted freelancer, potential partner or vendor, background checks have become the norm. We want to know if the person has committed any past crimes that could put your reputation and your business in a bad light.
But background checks are both expensive and time consuming. This can be frustrating if you need to hire or contract someone fast, and the background check.
Using blockchain technology, past records could be maintained without any chances of manipulation.
#2 Ways Entrepreneurs Can Use And Benefit From Blockchain Technology: The Elimination Of Financial Middlemen
- Payment processing
- Raising funds
Many entrepreneurs and small businesses pay exorbitant fees to middlemen performing these operations.
Using a blockchain system, those tasks could be handled efficiently without paying an outside source.
#3 Ways Entrepreneurs Can Use And Benefit From Blockchain Technology: Raise Funds
I somewhat touched on this in #2, but I thought I should delve further into this.
In the past, an entrepreneur may look to a venture capitalist for funding, but now, using blockchain technology, you can create an Initial Coin Offering in which anyone can purchase some of your finite coins or tokens and invest in you… Invest in your brand.
We have made this simple using the Nasgo blockchain. You do not need to know coding to make this a reality.
As a matter of fact, I created a video and blog post explaining how. See it here.
#4 Ways Entrepreneurs Can Use And Benefit From Blockchain Technology: Inventory And Financial Audits
I have watched as small companies have closed down operations for 1 week just to perform an internal inventory audit. So revenues halt while staff is counting and recounting.
And then the almighty IRS suddenly wants a financial audit… Files and records are pulled as well as the hair from scalps.
All that stress and loss of revenues can be diminished by using blockchain technology. Just pull up the blocks and the information is all there for any, and all audits.
#5 Ways Entrepreneurs Can Use And Benefit From Blockchain Technology: Attorney-Free Contracts
Using a blockchain “smart contract,” entrepreneurs can ensure that all tasks are completed before payment transfer.
Be it vendors, sub contractors, etc…, a smart contract can be established on the blockchain that is legally binding and the transfer of assets will initiate once the other party has met the terms of the agreement.
These are just a few…
There are so many more…
- Customer loyalty programs
- Supply chain
- Better cybersecurity
- Global reach
Blockchain technology can actually simplify your business structure and save you money.
I encourage you to visit Nasgo.com and download the mainframe. You can use the system to create a sidechain off the Nasgo blockchain to give you a start on bringing your business into the blockchain.
And, if you have any questions, feel free to ask here or search Nasgo at any of the social media sites.
We want to help take your business…