Understanding Web 3.0 and blockchain business use cases!

Techcess: embracing technology and IT support for success in your business

How blockchain and nfts could revolutionise small business technology!

If like me you're a little green around the topic of blockchain and Web3 (web 3.0) then this could be the episode for you!

As the host of this technology podcast "Techcess", I, Mark Riddell, am used to being an expert on the topics we're usually covering, such as cyber security, networking, MFA, and other business technology matters. But when it comes to this Web3 stuff, I'm still very much at the learning stage. So that's why I've invited a real expert on the topic to join us!

blockchain's back story

Blockchain has become a real 'buzzword' in recent years, and for good reason.

Major organisations are now harnessing its power to streamline internal processes and revolutionise supply chain management.

From tracking raw materials in the shipping industry to combatting counterfeit products in luxury goods, blockchain provides transparency, verification, and access to a secondary market.

Our guest Sean Delaney from Sens talks us through the importance of focusing on specific use cases rather than getting lost in the technical details of blockchain itself.

He explains how by identifying pain points and exploring industries like real estate, music, and digital identity, we can easily uncover the true value and potential applications of blockchain technology.

Throughout the episode, we discuss the future of blockchain technology, the challenges posed by regulation, and the importance of a strong Web3 community.

So whether you're curious about the impact of blockchain on your industry or simply want to stay ahead of the technological curve, this episode is not to be missed.

What you'll learn from listening to this episode of Techcess

• Blockchain technology in big organizations and supply chain management
• Traceability in industries like shipping
• Authentication in luxury goods industry
• Transparency and verification for buyers and sellers
• Secondary market access
• Researching specific industries for blockchain use cases
• Future prediction of universal blockchain usage
• Marketing opportunities with NFTs
• Risks eliminated by NFTs
• Ethereum and smart contracts
• Public and private blockchains

The power of blockchain in business

One industry in which the advent of blockchain technology has unlocked unprecedented levels of transparency and efficiency in, is supply chain management.

By utilising blockchain, organisations can trace products from raw materials to end consumers, curbing inefficiencies and minimising wastage.

The implementation of blockchain in industries like shipping has proven immensely successful, reducing costs and enhancing trust by ensuring verifiable, tamper-proof records.

Also, the luxury goods industry, plagued by counterfeit products, has found a savior in blockchain technology.

Watch brands, diamond industries, and other luxury goods manufacturers are utilising blockchain for authentication purposes.

By leveraging the transparency and verification offered by blockchain, both buyers and sellers can confidently participate in the secondary market, deterring black market trade and ensuring the authenticity of products.

How can your own business harness The potential of blockchain?

That's a great question. And it's one that we can't answer for you!

But like Sean suggests, rather than getting caught up in the technical intricacies of blockchain itself, the episode emphasises the importance of focusing on specific use cases.

Researching how blockchain is being implemented in specific industries and identifying pain points is crucial before considering the integration of this technology.

It enables businesses to tap into the true potential of blockchain and identify areas where it can optimize operations and facilitate seamless transfers or refunds.

Timestamped Summary:

00:02:05 Understanding of blockchain & NFTs: tech vs value 00:08:44 How Blockchain has impacted on industries already, particularly in real estate 00:13:14 NFC tokenomics, NFTs, and digital identity benefits 00:15:38 Ethereum and the other blockchain structures 00:18:40 Big organisations exploring and utilising blockchain technology for efficiency 00:25:07 Future of ticketing and medical data storage 00:27:25 Prediction for NFTs 00:30:33 How your company can leverage using this new technology