My former boss asked me how can crypto tech help him

[dikiz]

He's head of IT in a big company (Energy Industry), "B", and I'm in company "C". We met 3 years ago in company "A" which was also a huge energy company.

In his scope there are internal financial apps, I suppose they are doing more or less doing the same thing as in company A, meaning:

• Manage bills of expenses / expense accounts
• Manage and monitor corporate budgets (by departement / or projects / or directors)
• Manage workflow of validation processes for corporate investments
• Manage property portfolio of the group

He said "hey I remember you were into BTC, do you know how these technologies could help my business?" But there is a big difference between holding a couple of btc and alts and being a fintech crypto consultant!

I don't know much about his needs or problem he's trying to solve, we barely talked, he just mentionned the fact "I'd like to innovate"...
So can you guys think of some specific crypto technology or blockchain services designed for companies? Any hint would be welcome.

[Morarity]

~snip~

Check for Ethereum ERC-20, although I know this is a bitcoin forum, however if it is a fintech company it is worth looking about how ethereum platform is operating in every aspects.

Good luck.

[LoyceV]

He's head of IT in a big company (Energy Industry)
~
he just mentionned the fact "I'd like to innovate"...

I think this is a terrible idea! It sounds like a manager who's heard of something and wants it, even though he has no idea what it does and what it's used for.
In general, if you can do something without a blockchain, you should do it without a blockchain.

[dikiz]

In general, if you can do something without a blockchain, you should do it without a blockchain.

Why?

[mikeywith]

He's head of IT in a big company (Energy Industry), "B", and I'm in company "C". We met 3 years ago in company "A" which was also a huge energy company.

In his scope there are internal financial apps, I suppose they are doing more or less doing the same thing as in company A, meaning:

• Manage bills of expenses / expense accounts
• Manage and monitor corporate budgets (by departement / or projects / or directors)
• Manage workflow of validation processes for corporate investments
• Manage property portfolio of the group

He said "hey I remember you were into BTC, do you know how these technologies could help my business?" But there is a big difference between holding a couple of btc and alts and being a fintech crypto consultant!

I don't know much about his needs or problem he's trying to solve, we barely talked, he just mentionned the fact "I'd like to innovate"...
So can you guys think of some specific crypto technology or blockchain services designed for companies? Any hint would be welcome.

BTC itself will be of no use to your case " provided i understood you well", maybe invest some of the company holdings into bitcoin ? aside from that i can't think of any possible way that you or your company will benefit from BTC for the time being.

The only thing that you might make use of is the smart contact implemented on ETH or EOS.

you can pretty much implement all the points mentioned in your post on a smart contract, if you have a running app that keeps records of all the data, you can migrate it to a Dapp on the block-chain.

[Abdussamad]

When his company gets infected with ransomware he'll need bitcoin in hand to pay the ransom in a timely manner. So he should start creating a bitcoin reserve now.

In the meantime it'll also prove useful to pay pentesters as part of bug bounties. I'm sure he'll attract more talent if btc is one form of payment on offer.

[ranman09]

He actually needs to know how he's going to use blockchain for his company. For energy industry, there are a bunch of companies in the energy industry that uses blockchain. Check and research Terawatt (for now, the only one I know though I said bunch) for how they use blockchain to innovate their process.

Most of the times a company would fall into ERC-20 eth smart contracts because it is easier to use. Quick hint you will need so many resources and they will be hard to find. *blockchain developers

[dikiz]

He actually needs to know how he's going to use blockchain for his company. For energy industry, there are a bunch of companies in the energy industry that uses blockchain. Check and research Terawatt (for now, the only one I know though I said bunch) for how they use blockchain to innovate their process.

Most of the times a company would fall into ERC-20 eth smart contracts because it is easier to use. Quick hint you will need so many resources and they will be hard to find. *blockchain developers

I'll check out. But the apps I'm talking about are not really energy related. It's more financial apps you can find in any large group.

As for the ERC 20 smart contracts, yea that was what I assume...

[dikiz]

He's head of IT in a big company (Energy Industry), "B", and I'm in company "C". We met 3 years ago in company "A" which was also a huge energy company.

In his scope there are internal financial apps, I suppose they are doing more or less doing the same thing as in company A, meaning:

• Manage bills of expenses / expense accounts
• Manage and monitor corporate budgets (by departement / or projects / or directors)
• Manage workflow of validation processes for corporate investments
• Manage property portfolio of the group

He said "hey I remember you were into BTC, do you know how these technologies could help my business?" But there is a big difference between holding a couple of btc and alts and being a fintech crypto consultant!

I don't know much about his needs or problem he's trying to solve, we barely talked, he just mentionned the fact "I'd like to innovate"...
So can you guys think of some specific crypto technology or blockchain services designed for companies? Any hint would be welcome.

BTC itself will be of no use to your case " provided i understood you well", maybe invest some of the company holdings into bitcoin ? aside from that i can't think of any possible way that you or your company will benefit from BTC for the time being.

The only thing that you might make use of is the smart contact implemented on ETH or EOS.

you can pretty much implement all the points mentioned in your post on a smart contract, if you have a running app that keeps records of all the data, you can migrate it to a Dapp on the block-chain.

I'm supposed to have lunch with him sometimes this week, so I will know more about his needs.

Which companies have implemented ETH? How they did it?

[bitmover]

He's head of IT in a big company (Energy Industry)
~
he just mentionned the fact "I'd like to innovate"...

I think this is a terrible idea! It sounds like a manager who's heard of something and wants it, even though he has no idea what it does and what it's used for.
In general, if you can do something without a blockchain, you should do it without a blockchain.

Ionce heard Andreas Antonopoulos saying exactly that. If you can do without a blockchain, you should do it without.
In simple terms,  blockchain is a slow and expensive database. It is very useful for especific situations

[philipma1957]

Okay what is a huge energy company?

Let’s say it has holdings in hydro power.

What does this huge energy company do with excess power produced when rivers are flowing fast due to rainfall?

If they have a deal with a mining farm they can sell excess power at floating amounts.

I consulted with a farm build that did this.

[LoyceV]

In general, if you can do something without a blockchain, you should do it without a blockchain.

Why?

Why would you use any "innovation" if you don't know what it can improve in your business?

If anything, they can start accepting Bitcoin for energy payments, but not many people will use it.

[dikiz]

In general, if you can do something without a blockchain, you should do it without a blockchain.

Why?

Why would you use any "innovation" if you don't know what it can improve in your business?

If anything, they can start accepting Bitcoin for energy payments, but not many people will use it.

Your comment above said "as a general rule, stay away blockchain if you can", not "in the specific situation where your needs aren't clearly defined, stay away"

[khaled0111]

Read this article:
How Smart Contracts Could Change The Way You Do Business, there are good examples on how to use smart contracts to automate regular tasks.

Since you are in the energy industry, think about starting a mining farm 

[dikiz]

Read this article: ]
How Smart Contracts Could Change The Way You Do Business, there are good examples on how to use smart contracts to automate regular tasks.

Since you are in the energy industry, think about starting a mining farm 

The title sounds on point, will check out thank you

[dikiz]

bump

[bravehearth0319]

He's head of IT in a big company (Energy Industry), "B", and I'm in company "C". We met 3 years ago in company "A" which was also a huge energy company.

In his scope there are internal financial apps, I suppose they are doing more or less doing the same thing as in company A, meaning:

• Manage bills of expenses / expense accounts
• Manage and monitor corporate budgets (by departement / or projects / or directors)
• Manage workflow of validation processes for corporate investments
• Manage property portfolio of the group

He said "hey I remember you were into BTC, do you know how these technologies could help my business?" But there is a big difference between holding a couple of btc and alts and being a fintech crypto consultant!

I don't know much about his needs or problem he's trying to solve, we barely talked, he just mentionned the fact "I'd like to innovate"...
So can you guys think of some specific crypto technology or blockchain services designed for companies? Any hint would be welcome.

In the first place in my opinion, I do not know how can you connect the company into blockchain technology? Perhaps, the first thing that you should know by now is, you need to what is blockchain  really all about and and what is its usages together with it features too. Though, I believed that holding bitcoin and altcoins can't be the same. But there are some companies now in the other country they connected into blockchain technology.

[automaticmoney]

in one word crypto provide us transparency and security and easy ledger keeping any industry can easily be adapted to blockchain and tokenise the coin in cryptocurrency so every industry need it

[dikiz]

in one word crypto provide us transparency and security and easy ledger keeping any industry can easily be adapted to blockchain and tokenise the coin in cryptocurrency so every industry need it

Can you be more specific and name some market solution or companies which have implemented such technology

[seoincorporation]

~snip~

Check for Ethereum ERC-20, although I know this is a bitcoin forum, however if it is a fintech company it is worth looking about how ethereum platform is operating in every aspects.

Good luck.

Well, maybe one way to to aproach the smart contracts, but i think the best way is to use blockchain as databases... if i'm not wrong all this stuff can be managed by blockchain:

Manage bills of expenses / expense accounts
Manage and monitor corporate budgets (by departement / or projects / or directors)
Manage workflow of validation processes for corporate investments
Manage property portfolio of the group

I'm not sure about how exactly but is possible.