Blockchain Tech and Cryptocurrency as catalyst to Business Disruptions in the New Normal Era
Newton's first law of motion is that a body will continue in its state of rest or uniform motion, in a straight line unless compelled to change its state by the action of an external force. This was was further strengthened by the third law which states that for every action (force) in nature there is an equal and opposite reaction. Brainstorming on these laws became very necessary after today's interactive class I had at the opening Ceremony of CITI-Trend ion Uyo, where I was called to make a brief on Blockchain and cryptocurrencies.
Being invited for such opportunities to present blockchain and crypto gets very interesting especially not that the Nigerian Stocks Exchange commission officially includes Cryptocurrencies as one of its tradable stocks. This is simply a pathway to mass adoption of cryptocurrencies in Nigeria.
Consequently, the SEC will regulate crypto-token or crypto-coin investments when the character of the investments qualifies as securities transactions.
The government of the day was forced to make such innovative stride as it has become obvious that many were beginning to boycott the regular and traditional banking systems in the country owing to excessive charges and fraud that plagues the system. It was really a satisfying experience today as I won some hearts dearly. Will share shots by morrow when the photographer takes delivery.
Certainly, every change in any system is always activated by some external actions, else, the system is accustomed to remain the way it was and the people involved get so conditioned. Thanks to covid-19 that came and changed the narrative that people could co-exist without very close contacts. In my culture, refusing handshakes were never acceptable but we're getting used to the new normal going without it.
Business Disruptions, The Blockchain as a Catalyst
I made bold to explain that blockchain technology has come to change the way we made financial transactions in this new normal life. It is going to frantically change the way we usually relate as per finances and that may seem so difficult to adapt, yet, the reality sticks.
Mentioning decentralized systems and the future of money being crypto sounded so strange in the ears of many. It looked absurd, yet after few minutes of exposition of the evolution of technology as well as that of money, it was a glaring fact that it is time to change.
Wikipedia defines a disruptive innovation, which was created by Clayton Christensen,, as one that creates a new market and value network and eventually disrupts an existing market and value network, displacing established market-leading firms, products, and alliances. This is exactly what blockchain technology with decentralized protocols have come to do in the world of business. This is an abject rebound from the regular centralized systems with a defined head which are prone to censorship and other power-related abuse.
when it comes to business strategy, the term “disruption” refers to a process through which market entrants armed with non-conventional business models, and what at the outset seems to be poor-performing products come to challenge industry incumbents over time, eventually getting them out of business. - source
Disruption as brought to bare my blockchain technology and cryptocurrency is definitely good for the business world. My audience was typically made of business people who were eager to hear some sought of enhanced money making schemes that runs in the traditional lines that existed. No! things have changed and we have to change with the change that is rocking the world.
Disruption is massive and rapid especially with the unbelievable changes in crypto prices within hours and minutes. The LEO token was a vivid example. However, these disruptive innovation is important to stay vital, and any business needs to embrace innovation technology and the turbulence that goes with it.
Mentioning the Hive blockchain as a hub of possibilities for diverse works of life was an eye opener to many. I made a mention of the different professional fields that have their community representations on the Hive blockchain. From @STEMsocial for Scientists and technologists, @Lensy for photographers, @Sportstalksocial for Sports enthusiasts, @Leofinance for finance experts, and many more. Multi-level of earnings were discussed and that sounded way unbelievable.
This is just the beginning of the much limitless possibilities that so exists in this sphere.