3 things you should include in your blockchain sales pitch
At my many meetings with customers, partners and fellow blockchain enthusiasts, I have been asked one common question. Why do we need a solution based on DLT and blockchain? In each case my response is slightly different as I need to address specific client needs. However, there are at least three common reasons, which I would like to share here. All of them are fundamentally related to blockchain’s inherent features, which make that technology stand out from other IT solutions.
First of all, it is about security.
With blockchain we get the most sophisticated encryption method protecting data from unauthorized usage. In our technology — Billon’s civilised blockchain — we store all data on-chain. It means all data is secured by advanced cryptography and each piece of it is encrypted separately. Conversely, other technologies keep data in a centralized storage, which relies on complex and expensive security systems, but leaves information unencrypted. This old security model is vulnerable to personal data leaks, unauthorized access or banking frauds. It is then critical to find a technological solution that secures data and not just an access to it. Only by securing data itself we minimize the hacking risk.
The second reason is data availability.
This reason comes with the fast pace of living in our present world. In every second of our lives we exchange huge amounts of information. Even on holidays many of us prioritize network/Wi-Fi availability more than meals we eat or places we visit. We are used to accessing important data anytime, anywhere. But more valuable than the network connectivity itself is the certain access to the relevant information. Fast Wi-Fi does not matter if we cannot access our diplomas, bank agreements, bank statements, insurance contracts… And this is the exact place where blockchain improves our life. It ensures the availability of information saved in it. The distributed nature of this technology, without a single point of failure, provides permanent and easy access for everyone. Even if most of the network is down!
The third reason is efficiency and scalability.
The point above in a certain sense is correlated with the efficiency of a particular technical solution. Many companies compete in the race to create a highly efficient and scalable blockchain protocol, but with mixed results. At Billon, we have achieved an exceptional performance, which can be used in the vast majority of commercial applications. Our cooperative proof-of-stake protocol outperforms previous generation blockchains that use a proof-of-work consensus algorithm. The old mechanism is quite inefficient, consuming a lot of power and taking a lot of processing time. We, however, figured out how to process over 160 million payment transactions per day on-chain and publish 5 million documents on-chain as well. Focusing on what our clients expect, we also delivered an exponentially scalable solution. Billon blockchain’s performance goes up with the number of users, because blockchain nodes utilize the computing power of their devices. Those are incredible results and we are proud of many hours spent on preparation, testing and R&D work.
Summary
Blockchain is certainly an exciting technology for developers. However what really matters to enterprise clients is how it would help them cut costs and raise profits. If you pitch your blockchain solution, you should make sure your technology lives up to most, if not all commercial expectations: cost cutting, security, authenticity, trust, and information transparency. From the business user’s perspective, blockchain itself does not matter. What matters is if it does a job which is supposed to do and makes clients more happy at the end of the day.
