Blockchain crafts future opportunities for business.
Generally, the incorporation of blockchain into the business technology seems complicated and expensive. Existing companies have the solutions and experience in the implementation of industrial systems or broad-use consumer products. Some companies use solutions, which have been the standard for many years, even if those have become technologically obsolete. In some cases, the replacement of an obsolete solution results in more expenses than those associated the current inefficiency. Most solutions pass the stages of early use to enable creation of an ecosystem around them.
Companies working on highly competitive markets can gain a competitive advantage. Established market niches with a scale of businesses operating in them generally use well-known opportunities to engage in economic activity.
We see an unsolved problem preventing the distribution of blockchain technologies on a large scale. The ecosystem of blockchain-based applied business solutions has not been shaped yet. Blockchain technologies actively evolve towards quick and simple payment solutions. The features of blockchain technologies, which can be used to solve other business challenges, are uncovered at a much slower rate. Some technologies, which would improve business operations already today and could replace solutions with obsolete architecture, cannot be created using blockchain. The core reason for that is the absence of earlier solutions applied blockchain solutions will be based on, which are yet to be developed.
The demand for applied blockchain-based solutions is growing faster than the supply of ready-to-use solutions or developer teams businesses might be interested in. This situation is similar to that of many breakthrough technologies in the period of active growth. The evolution of blockchain technologies in the domain of financial transactions decreases interest and attention from the developers that the companies need. The logical evolution of blockchain technology distribution rates is directed towards the accelerated creation of a broad and accessible developer competence market after a decline in the earlier unsatisfied interest.
Many blockchain-based solutions are only understood by people with a technical background, who can gain hands-on development experience in the blockchain technology ecosystem, which is being shaped. The company may have competences and a deep understanding of how to use digital technologies, but this does not guarantee successful application of blockchain technologies. Due to the complexity and the process of blockchain implementation in segmented domains, employees with broad competences are much less confident in making decisions regarding the implementation of this or that blockchain technology to act on the already existing company directives.
The use of solutions based on = X blockchain technology reduces barriers to gaining competitive advantage. = X blockchain is designed to be able to skip one or several complicated stages both during implementation in the company and in the course of scaling up and employees’ adjustment to the new technology. Due to its modular structure, the decisions on using the blockchain technology can be made taking into account the “cost” of relevant implementation outcomes and the feasibility of solution use by various company structures. For small companies, = X proposes to use pre-made optimized Twoclickstartup modules. Some Twoclickstartup modules enable small companies to extend the levers of business opportunities immediately after the implementation.
Modular architecture with tags informing of solution use opportunities will help in-house developers to shorten the stage of blockchain technology selection and training required to make decisions regarding the possible use of blockchain technologies, granting an opportunity to proceed directly to design to be able to act on the company’s business objectives.
= X blockchain unveils the company’s potential in various domains from financial transactions and audit to creation of cloud-based data registers gathering information from IoT devices on a commercial scale.
The principles of = X solution ecosystem:
Simple and ready to use. The solutions implemented by = X are designed leveraging actual user experience. They function based on the purpose of a specific solution with interfaces to shorten the period of training for potential users. The principle of interfaces — getting the expected outcome from the program in a few clicks.
Modular structure enables transition from widely spread technologies to blockchain and vice versa.
Protocol. Standardized modules of widely spread technologies with blockchain technologies enable quick extraction or addition of technological modules.
Industry standards. Developers will use common and familiar programming languages and standard architecture. This will simplify training and eliminate the need to have a holistic and deep understanding of the solution model.
Private blockchains. = X enables creation of completely private blockchains to leverage blockchain opportunities in no-disclosure or restricted data use situations. In such cases, = X blockchain can be rolled out in a private mode.
Blockchain replacement. To eliminate the risk of using limited functions of becoming technologically obsolete, = X blockchain will be able to connect to, and fully interact with other blockchains via SideMediator. This will enable quick interchangeability and augmentability of technologies without the need to replace the core blockchain solution.
