ecosystem

What is Blockchain really about? and How do I use blockchain for businesses? There is a lot of media and industry hype around blockchain at the moment, especially as BitCoin, the first big POC (Proof of Concept) has exploded from 1/1000th of a cent and now pushing $10,000 each. Can you use Blockchain for your business outside of investing in Bitcoin ? Firstly read our primer post on Blockchain if you want it demystified in a few minutes. Otherwise here are our insights on incorporating Blockchain for your business:

So how do I use blockchain for business  ?

Like all new technologies we’ve written about in the past decade, the balancing act of jumping in and getting value for business before a technology is saturated is always a valuable question. Basically – can your business benefit from X ? (where X is SEO, Social Media, SEM, Mobile Apps etc etc).

First – never get in on hype alone, get in because it makes economic sense. Getting in on the buzzword alone and it working out, you may as well buy a lotto ticket; a lot less of an investment for a relative chance of return. Also unlike a lot of these other Xs, Blockchain for business has a high barrier to entry. So can you use this for business?… Simple case is transferring money internationally and wanting to save on the currency exchange rates / fees – play it safe – start with a trial and figure out if it is worth it; expose the risks.  High chance (excluding your work to setup the transfer) you’ll save using BitCoin as long as the value doesn’t tank during the transfer window.

I wouldn’t call trading Bitcoin a business strategy any more than share trading does – it can form part of your investment portfolio. Same goes for any IM that you’re pitched with Blockchain or AI (Artificial Intelligence) for that matter; often these terms are thrown about for their hype value without detailed or serious application.

What about any real / direct applications of the technology into your business? We’ll if you’re developing any core software technologies, and someone is offering you actual Blockchain (not just a concept like a distributed database that already exists independent of blockchain) or actual AI – you are buying in a very early stage. In fact unless you have millions to risk on the project, you are forming part of the proof of concept and specific applications can be easily over-hyped and over-invested without significant benefit over more traditional technologies. If you are excited by the idea, just remember “buy-beware”. If you are unsure and want a second opinion, contact the team and we can vet your application from a computer science and commercialisation risk analysis perspective.

So which businesses will use blockchain then?

There are lots of new applications blockchain for business – it will be applied throughout technology systems, public and private that we’ll benefit from in the future. Right now though there is the proposition of trust that Blockchain for businesses is establishing in the marketplace, especially as it is a far more open data structure that you see across private networks. My guess is it will be large enterprise and corporate entities like banks, trading platforms, governments and industries that will invest and develop the technology more so than small to medium enterprise or even large corporate businesses. You may see plays from IPOs and listed companies using Blockchain (and AI) as a positive story to improve share price and forecasts, again i’m sceptical until you have independent computer scientists, not marketers backing the applications, or like any good business model inertial market trials are showing strong returns.

There is more to it than having your Blockchain for Business sorted. Nothing sits in a silo. The greatest opportunities are multi-touch and omni-channel. AndMine’s digital agency services are a one stop shop. If it’s #Digital, we do it. Go on, test us.

Trusted by

Kay&Burton
Jetstar
Oracle
Melbourne Sports and Aquatic Centre – MSAC
Shell
Ubertas Group
Chia
Van Egmond Group
Windsorsmith
Forbes
Eway
Carlton Football Club
Fresh Cheese Company
BlackMores
Jalna
Catholic Insurance
Matchbox Homewares
Watches of Switzerland
MAP
PranaOn
WTFN
GooglePlay
Boston Consulting Group
POSTER Magazine
ISO Certified
Tomorrow Stars Basketball
CB Richard Ellis
Coles
Paypal
Australian Government
Parker Lane
Melrose Health
CAN- Common Wealth Bank
Cell Therapies
Tribe
Castran Gilbert
Fast.co
Toy World
News
Rydges
Natralus Australia
Bank of Cyprus
Victorian Government
Tek Ocean
Think & Grow Rich Inc
Aqium Gel
GPT Group
Crumpler
Moov Head Lice
Maxine
Etihad Stadium
Schiavello
Viktoria & Woods
Elucent
Ebay
Rock Pool Group
Plants
OMS – Order Management System
Scrum.org
National Museum of Australia
Florsheim Shoes
McArthur Skincare
Plan It Sync It
Beaumont
Bigcommerce
Toni&Guy
DUSA, Deakin University Student Association
Novvi
Smart Company
DepSkin.com
Bondi Sands
Melbourne Central
Dinosaur Designs
Madman Entertainment
Melbourne Heart
DeeWhy Market
Vendor Advocacy Australia
High Street Armadale
Rackspace
CSquared Executive
Appstore
Dial Before You Dig
Mamma Lucia
Brisbane Times
Ello
Australian Organic Food CO
The Age
Federation University Australia
Palace Cinemas
Garmin
VISSF
Marshall White
Arc One
Magento
Switzer Media+Publishing
Magento Solution Specialist
Arthur Galan
Craft CMS
ABC
Bulk Nutrients
Naturtint
Buy Aussie Now
Kadac
Xavier
Positive Poster
The Canberra Times
Metricon
RMIT University
National Relay Services
Grays Ecommerce
NMI Insurance
NextTech
Liveoneday
Street Kitchen
Cronos Australia
Australian Physiotherapy Association
Instant RockStar
Focus On Furniture
Macmillan Publishing
Atlantic Group of Companies
MyAccount
Grainshaker
Engineers Without Borders
Movember
Unsw Australia
Hanover
The Burger Cheese
OJAY
Amino Active
Peter Mac
ADP Payroll
James Buyer Advocates
Sunday Creek
Federation Square
iPrimus
SMH – The Sydney Morning Herald
Melrose MCT
Adobe Professional
Associated Press
Passage Foods
Fairfax Media
Sports Power
Australian Anthill
131 Pizza
Hairhouse Warehouse
Passage To India
Royal Freemasons
The University Of Melbourne
Wild Rhino Shoes
Cleanfit
LBG Australia and New Zealand
Bostik
Green St Juice CO
AC/DC
Heat Holders
Tassal
The Fortune Institute
ACTUATE IP
The Royal Melbourne Hospital
Mecca Brands
21st Century Australia Party
Ego Pharmaceuticals
Loan Market
Grow Your Business
Engine Swim
Celebrate Health
Max’s
SwinBurne University of Technology
Uber
Google
Oakdale Meat Co
QV Skincare
White Suede
One Shift
SunSense Digital Agency
Bintani Australia
Drupal
Microsoft Certified Azure Fundamentals
Acquia Certified Site Builder Drupal
Telstra
TPP

Testimonials

We absolutely love working with AndMine - our website is always bang up to date, beautifully designed and full of software innovation. I would highly recommend AndMine as the online solution for any forward thinking company. Emma Roberts, Essensuals, Toni&Guy (UK)

More Testimonials
AndMine-Google-Partner-Signature