Let’s find out how Blockchain Technology is assisting the Entrepreneurs in building their ideas.
The world is experimenting with the blockchain technology in order to find out its true potential and capabilities in solving most of the real world problems. Blockchain Technology has found applications in the election process, Healthcare, educational institutions, Financial Institutions and now it has also paved way for possibilities in the entrepreneurship industry.
1. Increasing access to entrepreneurship education
Many people working in the corporate world want to bring their dreams into life by starting their own ventures. But the entrepreneurs probably lack the sufficient skills and certifications required for it and also do not find sufficient time to learn them. For instance, someone with a 9 to 5 job is not able to enroll in the MBA Program.
Although the formal education is not compulsory for a new business venture the entrepreneurs require specific skills. Success Life has come forward with a blockchain solution in order to provide video tutorials to help the entrepreneurs acquired the specific skills.
2. Unlocking crowdfunding opportunities
According to statistics 78% of the initial public offering offered by projects do not reach its target but with the initiation of initial coin offering by the application of the Blockchain Technology, the whole crowdfunding process has been digitized and hence increased the reachability of the sales to every corner the world.
According to a report crowdfunding for only the entrepreneurial ventures is estimated to be around $5.6 billion in the year 2017. The initial coin offering has become so powerful that it is has been attracting the mainstream investment for a long time.
3. Providing user-friendly financial tools
the number of projects and businesses are using the cryptocurrencies along with the fiat in order to manage their finances. The cryptocurrency might be in the form of tokens or funds raised by an entrepreneur through the adroit trading in the cryptocurrency exchanges.
Many projects have been come forward to integrate the functionalities of the exchange, a crypto, and a wallet. One best example is Zerta, a next-generation trading platform. It is developed by the best technologist and the entrepreneurs. It provides a customizable interface for users of difference in trade experience for simplicity.
4. Cultivating new investment opportunities
An investment portfolio of an entrepreneur is one of the most diverse ones. This might be because they are always looking forward to a diversified investment and there are almost thousands of ICOs coming up every year opening gates for diversified investments.
For an instance, Muirfield provides private equity investment opportunities and also is looking forward to launching it’s tokenized asset offering in 2018.
5. Developing customer-loyalty platforms
As the Blockchain Technology was originally meant to bridge the trust gap that existed in this generation, it is readily made use of, in fields where the trust between people is crucial.
Blockpoint, for an instance, has come up with one such automatic Blockchain ledger which keeps a track of the customer’s interaction and adjusts the loyalty statuses appropriately.
6. Creating reliable agreements
Entrepreneurs are in a frequent touch with all kinds of investors. A number of official and unofficial contracts are signed between them. When the traditional agreement fails the entrepreneurs suffer a lot.
The smart contracts using the Blockchain Technology proves to be very handy in such situations. DocTailor offers one such service where the entrepreneurs can create smart contracts based on their preferences.