CryptoFranchise: The technological solution for retail franchise brands
Blockchain technology is the future, and each time there are more businesses trying to understand the technology behind in order to be able to adopt it in their business model. However, they either do not have the sufficient knowledge, the required funds or the insight to know how can blockchain be applied in their daily routine. A study carried out by Deloitte, concludes that blockchain is a fundamental change if businesses want to continue being competitive. Most of the executives interviewed, 74%, claim that they see a convincing business model but they just do not know where to start. While 34% of them were already looking for a process in which to implement the technology .
Here is where CryptoFranchise comes as a solution for the retail franchise brands that are looking forward to implement blockchain technology and tokenize their ecosystem. We are currently developing a system that will be fully customizable for each of our clients. Handing them a product in which they can add their branding, trade with tokens and cryptocurrencies that they desire, and above all, keep all their information safe, ordered and transparent.
The main objective of our platform is to solve the major problems that the franchise sector is currently experiencing.
Firstly, to coalign the interests of both franchisor (brand) and franchisee by introducing a common good: the token. By tokenizing the franchise, both parties will have to work together in order to add value for the company, in that way both will be equally rewarded.
Secondly, to solve the disruption online shopping models are causing to retail franchise business. Every time there are more customers that prefer or only buy products online, consequently reducing the revenues of franchise stores (offline products). However, tokenizing the industry solves this issue too.
By giving customers the chance to use their tokens to buy products of the franchise, it ends up driving them to use online shopping methods; merging both models into one.
Thirdly, with the help of blockchain technology, transactions will be carried out more efficiently, and at the same time add transparency and security. Franchises have thousands and thousands of transactions per day, thus, adoption of the Cryptofranchise system will come extremely handy for them. Finally, loyalty campaigns have not yet been as effective as they were thought to be, as they have not reached their ultimate goal: to increase the number of customers. However, CryptoFranchise offers their clients the chance to make smart loyalty campaigns that will give customers further uses of their loyalty tokens: being able to exchange it for tokens of other brands (that can then be exchanged for products), for fiat currencies, etc.
Moreover, we understand that each client has different approaches to blockchain. Some might be more pro- open-source code than others, that is why we offer our clients two types of blockchains. On one hand, we offer them a public blockchain in which all its source code can be found, seen, and copied by anyone. On the other hand, we offer a semi-private blockchain were only the original code is available for the public, nevertheless, all the customizations done to it will be only visible to you. In this way, we will help companies to implement blockchain without them having to go through the time-consuming and costly process of building up their blockchain platform from scratch.
In addition, following with the problem that is presented too in Deloitte’s report, we offer a product that is a Plug&Play solution for our clients. This means that once the client has decided to buy our product, they would be able to connect to the CryptoFranchise platform and enjoy all the benefits blockchain brings to the franchise industry, immediately, saving tedious months of work. Concurrently, CryptoFranchise will have a team specifically build up to help clients to further understand blockchain technology, and describe the benefits and services that our platform will offer them.
It is now an evidence that blockchain is revolutionizing the way executives think, bringing them out from their traditional centralized business models into the decentralized world. Many executives have started investing strongly into blockchain projects (a minimum amount of $5 million) to help develop software that they can afterwards implement on their firms.
It is still a reality that many executives are uncertain to take the final step, however, most of them do not take it because they see it as dangerous, but because they do not fully see the applications this new technology encompasses. Nonetheless, it is time for them to leave their comfort zone if they do not want to become obsolete in the future. Plus, not having a starting point is an excuse no longer available, as CryptoFranchise is the bridge to connect retail franchise businesses to the blockchain world.