How can we convince businesses to use blockchain tech?

[crypto1010]

Blockchain technology is already starting to intrigue companies, from their CEO's, dev & tech team, etc. As the digital world evolves, the more these businesses should start thinking about leveling up their existing system.

The security token sector has been predicted to potentially become a trillion dollar market, and established financial institutions are now taking an active interest in blockchain-enabled solutions. The technological foundations that does these things like XYM from the NEM Foundation as an example, may allow the project to target high-opportunity ventures.

There are solutions for a wide range of companies that require a secure, reliable, and highly efficient blockchain network that continues to innovate and break new boundaries.

So the question is, what hinders them from using it?

[1715143844]

1715143844

[1715143844]

1715143844

[1715143844]

1715143844

[BlinkInDie]

Some businesses are already using it, but it's just not widely promoted. The challenge might be on the integration side and they'll run into problems if not careful.

[Godstrength]

The security token sector has been predicted to potentially become a trillion dollar market, and established financial institutions are now taking an active interest in blockchain-enabled solutions. The technological foundations that does these things like XYM from the NEM Foundation as an example, may allow the project to target high-opportunity ventures.

There are solutions for a wide range of companies that require a secure, reliable, and highly efficient blockchain network that continues to innovate and break new boundaries.

Startups interested in setting themselves and their partners up with smart contracts can make use of some of the earliest services in this space. To avoid the initial development costs of building on Ethereum, there are already blockchain companies like Symbol that can let you earn XYM harvesting rewards, including a share of rewards from other harvesters who delegate their harvesting to your node.

[Josefjix]

Some businesses are already embracing the digital technology in aspects of blockchain, Keep them updated with the latest trends,educating them, inviting them to seminars would help.

It will take a significant amount of time before we could achieve that.

[Yogee]

......
So the question is, what hinders them from using it?

I can only speculate but here are two possible reasons:

1. Fear of change - there are people who simply doesn't want to change things because they are already comfortable with their old system.

2. Cost of switching to a new system outweighs the benefits - aside from the fact that they need to spend for R&D or simply buy one, a new system also would pausing some transactions as they migrate. It would also require retraining of employees.

[roberthays]

It's becoming increasingly popular and companies have set aside large budgets to implement Blockchain technology. It will take time however as the sector is still relatively new.

[Lorence.xD]

It's becoming increasingly popular and companies have set aside large budgets to implement Blockchain technology. It will take time however as the sector is still relatively new.

Not to be a bad news bear but in my opinion, block chain will have a very tough time when it comes to getting its way of integration in businesses, the reason is that very few people knows about cryptocurrency, to prove my poin, the number of people who does not know crypto is fairly larger than the opposite, while this may be a hard thing to overcome, this falls flat on the responsibility of business owners, they can use the upgrade as an advertisement and from that point on the chain reaction will play itself, other than that many businesses owners will not be willing to risk their asses when they are benefitting from the status quo, this is a problem because there are hard ass there that will not budge, they are few but they are influential. The other big thing will be the fiscal policies regarding cryptocurrencies which varies from country to country, I do not know much about legislations and politics but I know that when politics is corrupted and does not benefit from this then there will be a big problem.

[wxa7115]

Blockchain technology is already starting to intrigue companies, from their CEO's, dev & tech team, etc. As the digital world evolves, the more these businesses should start thinking about leveling up their existing system.

The security token sector has been predicted to potentially become a trillion dollar market, and established financial institutions are now taking an active interest in blockchain-enabled solutions. The technological foundations that does these things like XYM from the NEM Foundation as an example, may allow the project to target high-opportunity ventures.

There are solutions for a wide range of companies that require a secure, reliable, and highly efficient blockchain network that continues to innovate and break new boundaries.

So the question is, what hinders them from using it?

One of the most simple answers is that they do not really need it, the blockchain is a great invention without a doubt and bitcoin is the first implementation of it, however there are many businesses that do not really require to have their own private blockchain, the solutions which exist already are enough for them and they do not really see the need to change to a system that is not completely proven that is going to be beneficial to their operations.

[Cryptoababe]

Blockchain technology is already starting to intrigue companies, from their CEO's, dev & tech team, etc. As the digital world evolves, the more these businesses should start thinking about leveling up their existing system.

The security token sector has been predicted to potentially become a trillion dollar market, and established financial institutions are now taking an active interest in blockchain-enabled solutions. The technological foundations that does these things like XYM from the NEM Foundation as an example, may allow the project to target high-opportunity ventures.

There are solutions for a wide range of companies that require a secure, reliable, and highly efficient blockchain network that continues to innovate and break new boundaries.

So the question is, what hinders them from using it?

Simply transparency.. Everything about blockchain has or involve transparency. And most of these financial institutions needs this transparency in every kind of operation that goes on the their organisation or within the institution. Blockchain techs brings this transparency easily. 

[wanted sliter]

Businesses will use Blockchain when they find their systems cumbersome or too manageable. Of course, they want everything under their control. Large corporations are racing to file blockchain-related patents. I think they'll be bringing blockchain to their system soon or they're already using them, we simply don't know about them.

[franky1]

many 'promotions' of blockchain are the eternity models. the one that has a genesis block that lasts forever in history.

many new blockchains can audit the blocks of say 6-months and then migrate the useful data into recent blocks. and then just prune off the history

EG if 2 weeks is deemed as a safety net amount of time to spot errors. then at 5 months, 2weeks the blockchain can migrate old but relevant data forward. and then set that mile marker. and have 2 weeks to then audit that change is all valid. thus not push resources to max by rushing it. and then at month 6. prune off last years data. knowing everything of relevance is upto date.

this can be the biggest solution to the eternity flaw of blockchain. while still delivering data that is decentrally audited and also decentrally backed up in multiple locations. thus getting all the wishes businesses want from distributed data

..
the next problem is each business has different data needs. so instead of ICO just making every idea under the sun and just trying to sell it on this forum. ICO managers should actually find an industry. understand their data needs, understand the employee desires for user input. and design blockchains that fit the niche of a business.. and the most important part. promote it to that business. dont just hope the businesses will come to this forum and find it

[Cratoon]

The answer is simple -- it must be convenient.

If there are some fuctional that crypto can offer to this business technical aspect -- it will switch to crypto.
If there are no such motivation -- there's simply no reason to switch from fiat from established business.

[wack slacker]

Enterprises will use their blockchain to manage their business when they have a management problem. Using blockchain can help prevent loss and reduce administrative costs instead of hiring more people to do it. But it is also possible that blockchain will be annoying for businesses because fraud doesn't happen. I know some businesses that survive tax evasion. Convincing a business to use blockchain is difficult, maybe a private chain will suit them.

[Ratash]

By telling them how much the blockchain technology is safe and its almost impossible to hack because every block of the chain is encrypted differently and every transaction added to the block have its informations known by all the block so if its hacked then the network will be notified imediatly.

[syedakhlaque]

This is the fact, that blockchain technology has won the trust of the community working on online business. Behind the success of bitcoin, there is the trust of people and blockchain technology. In blockchain technology, there is no middle man or central authority who can change, delete or edit your transactions. There cannot be fraud or theft. So your business is safe and in your hands, your transactions and bitcoin are also secure. So this is the best investment to do the bitcoin business.

[syedakhlaque]

A businessman always wants the security of his capital.He seeks for the safety in transaction of his account.This the grace of blochchain technology that it provides all kind of security in crptocurrency business.This is the reason that the people all corner of the world trusting this bus this business and they like to join and do this business.Today there are uncounted people, comanies, wallets,banks coins and exchang are attach with bitcoin business.

[Cryptock]

A businessman always wants the security of his capital.He seeks for the safety in transaction of his account.This the grace of blochchain technology that it provides all kind of security in crptocurrency business.This is the reason that the people all corner of the world trusting this bus this business and they like to join and do this business.Today there are uncounted people, comanies, wallets,banks coins and exchang are attach with bitcoin business.

I think it depends on the business owner mind set if he or she is willing to accept new changes.
Many owner like to work their way and it is very hard to convince them but some young bosses have big dreams and ambitions to get more money and become more rich so they welcome change

[sbercoin.one]

So the question is, what hinders them from using it?

In order for a business to start using blockchain, it needs real cases

[Alisha-k]

The only factor that might hinder big companies from deploying blockchain is the UseCase and Api but if the have good developers that can make a Userfriendly interface it will have all worries on using Blockchain in their respective business easier. Businesses using Blockchain has either payment gateway or product monitor and transparency should have increased exponentially by 2025