Suitable business models to leverage blockchain

by Lumai Mubanga

When the internet became widely adopted, it was clear that many companies were going to adopt it. Today, almost all companies, learning institutions and government agencies have adopted the internet and benefit from its services. Can the same be said of blockchain?

While blockchain has become the buzz word with increasing publicity, will it surpass the internet in its adoption, or are there specific corporations that can immensely benefit from this new model of doing business? Only time will tell. But there seem to be specific business models that can benefit more in terms of value addition and lower cost of doing business.

Collaborating enterprises

Some companies that stands to benefit more from the blockchain model are those businesses designed to support collaboration. If your services involve supporting infrastructure that share files, knowledge and ideas across your organisation and between peers and experts regardless of location and seniority, then your organisation is suitable to adopt and take advantage of blockchain model. You stand to benefit more and create value additions as well as promote innovativeness in real time.

Metering services

If your organisation specialise in offering services related to metering, then consider adopting blockchain. For instance, certain services like renting out storage facilities, wifi hotspot services, excessive mobile minutes make better candidates for adopting the technology. Such ones stands to benefit by taking advantage of blockchains abilities  for microbilling and monitoring a matching parts usage of some services. This can be done more accurately and visibly compared to current technologies.

Copyright owners

Does your business or service involve the creation of copyright to preserve your brand and rights to your ideas? If so, blockchain adoption or integration into your business or services will add more value. Take for instance record companies, music artists, architect engineers and authors who have been denied payment for loss of their intellectual property rights on the internet because of loopholes created in current digital rights management systems. Blockchain surpass these systems far beyond imagination by offering a platform that promotes the artists ability to register certificates of authenticity and the right to determine when and were such art works could be deployed without compromise.

Platform creators

Some businesses specialize in creating platforms that are latter opened up to the public . In many cases they may offer technology and infrastructure as services. Such businesses suffer prohibitive costs in opening up such platforms to the outsiders. Blockchain offers such companies the ability to launch such services on a shared platform much more cheaply. Blockchain offers standard protocols of contracts that make management easier on a common backbone.

Chain enterprises

Chain enterprises include those business that track the source of a resource up to the point of consumption. It may also include those businesses that monitor inputs through processing to outputs through automated systems. For example, Walmart may be interested to monitor the source of its beef, from birth to slaughter to the cane. This is in the belief that it desires to support only those animals that meet a certain criteria in terms of sanitary conditions and GMO compliance. For such ones, blockchain offers the best tracking platform for better performance and profits.

In conclusion, while many more models can adopt blockchain, the few mentioned above are some of those that stand to benefit more.