How would you feel if your trucking business operation is hindered by heavy road traffic and high toll fees? Your trucks are blocked by slow-moving traffic. The roads are terrible. Vehicles are lining up to the toll gates. This can have a chain reaction within your organization.
Slow movement of your truck units means less revenue coming in. And less revenue coming in means less take home profit. Less take home profit means you cannot expand your operation easily. You may have to wait longer for your to expand. You may be losing market share from your competitors. Or your customers are so frustrated with the delays that they stop doing business with you.
Worse yet, if your gross revenue became so low that your cashflow becomes negative. You may have to lay off some employees. And less employees means you have to scaled down your operation. It’s a vicious cycle. The end result is that either you sell your business, your you file for bankruptcy.
But what if there is another highway that can accommodate more vehicles? While the former old highway has 4 lanes, the new road has 10x more. That is a 40-lane highway! That is actually just an understatement. If I were to tell you that it’s a forty-thousand-lane highway, that would probably blow your mind. So for the sake of simplicity, we just use a 40-lane highway.
Now this new road is a blessing. The pavement is smooth. The toll fee is very low. Your trucks can move at top speeds. There is no speed limit. Pretty much like the Autobahn in Germany. There are no toll gates, because high-tech cameras scan passing vehicles by their plate numbers and charges them automatically on their bank accounts or credit cards.
As the founder of the trucking business, it’s a no brainer that you would prefer to use the latter new road. Trucks have no idle time. They are on the road virtually twenty-four hours, seven days. Even one truck has two drivers, driving 12 hours per shift. Now you can certainly say that you can grow your business at scale. It’s exponential. You buy more trucks. The banks lend you money, confident that your business is thriving.
Moreover, you hire more administrative employees situated in your office. You don’t even have to outsource your accounting, as you now can have your own inhouse certified public accountant. Business is doing great. Before long, your trucking company becomes a publicly traded corporation on New York Stocks Exchange.
The success scenario is only made possible by the new highway. If only there was such a highway like that. Well, there is. In the blockchain world, Ethereum is overcrowded, congested, the gas fees are astronomical. Entrepreneurs feel constipated, so to speak. They cannot scale. It’s a bottleneck.
To the rescue: the NEAR bridge. Think of it as a bridge that connects the two highways. If you find yourself stuck in the old highway that is congested, you find relief that there is a bridge leading up to the new highway for you to pass on. That is the NEAR bridge. For more information on the NEAR bridge and it’s benefits and implications, please click this link: https://nearguilds.com/2021/04/15/understanding-the-implications-of-the-rainbow-bridge-what-makes-it-special/
In the words of Dr. Alex Shevchenko, project leader for the NEAR bridge, “deploying the bridge on the mainnet is just a very big milestone for the NEAR Protocol as a whole. Now people are able to bridge the liquidity that is locked in Ethereum, and is suffering because of extreme high Ethereum fees. With NEAR it’s pretty low on fees. The current value proposition is pretty simple. On NEAR side, the transactions are extremely cheap; they are below one cent…. which has decreased the cost of all of the defi transaction by a factor of a thousand to ten thousand. “ -How I Sold My Start-Up To Lululemon For $500 Million
Imagine! Let us just say that the fee difference between Ethereum and NEAR is just by a fraction of a thousand. If it takes a thousand dollars to fill your truck’s gas tank to the brim, now it’s only a dollar. Imagine!
That is the power of the NEAR bridge.
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