To keep things interesting, we will publish articles that give insight into our industry, strategy and goals in the form of updates. Today, we wish to provide some background on what spawned BBY and why we are so committed to its success.
We wanted to find a way to contribute to the growing economy that the blockchain promises. As business minded individuals and believers in crypto, we had to figure out a way to make a worthwhile project. We believe crypto is oversaturated and did not want to be more clutter .In business, there are a lot buzzwords and no one thinks their idea is a loser. But nearly all businesses will fail. Forward looking tells us what can go wrong and hindsight tells us of what went wrong but there is no word for being able to see when things are wrong and this is the most important. Most businesses fail because they were never going to work. The majority of funds go to businesses that try to accurately predict the future and these exciting ideas often throw off people’s judgement.
Getting investors is different than being successful. Ideas have to be “sexy” to stay up to date on current trends. These type of businesses are typically in growth industries that are trying to predict the future. Subway sandwiches is a super successful franchise but most investors wouldn’t call a sandwich shop sexy.
Disruptive is a word that hurts to hear because it’s usually a terrible way to invest. People resist change and when businesses imagine the future, that plan ends up in the round file. Change comes slow and this brings me to BBY. Sometimes something comes along that checks all the boxes and we think BBY does that. Blockchain is cutting edge and contained ecosystems offer the promise of a better present and future. Why? Because ecommerce is here now and not going away and is full of problems. The basic act of buying and selling has been a mess for a long time. How it’s remained full of useless intermediaries is about the same as, “the devil’s greatest trick was convincing people he didn’t exist.” Now is not a word you hear in crypto but, as business people, we had to consider—are blockchain and smart contract technologies offering anything practical right now? The answer was yes. While the biggest minds in the world are developing ideas that may do something years from now,these projects are like tradeable grant funds. As entrepreneurs the question for us was — could BlocBuy work now and still have a future? We believe so so we had to set some standards:
- Leverage existing blockchain and smart contract capabilities
- Establish an achievable revenue model
- Beneficial to the health of the planet
With these goals, we established objectives:
- Connect manufacturers to customers and businesses
- Empower small businesses and innovation
- Reduce packaging waste to lower carbon emissions, fossil fuels
- Create scale discounts for businesses of all sizes
- Eliminate cost-adding intermediaries
- Reunite buyer and seller
BBY sees a broken commerce system that most people have passively accepted for decades. The supply chain is full of intermediaries that do nothing but add cost and slow down growth. Can the blockchain and smart contracts help to solve this problem? Yes. Can it generate revenue and token utility? Yes. Does it help the planet? Yes. We are not asking anyone to change how they do things because our goal is only to make it easier and more affordable.
