For me, general, the less time it takes a business to complete a task or process the happier customers will be. Blockchain’s ability to reduce the time a process takes by removing inefficiencies really helps here.
faster payments and reconciliation of funds
for me its about the use case... for instance food provenance, knowing my apple is organic, and I can trace it back to when it was picked on which farm is kinda cool, especially if that is important to me...
In a nutshell, better transparency, guaranteed identity, lower risk, more trust, fewer disputes, reduced reconciliation times == happier customers! :-)
same applies for a banking transaction, if its quiker to get my funds, complet that trade or track something in real time, I am more engaged and feel involved
By speeding up processes that currently takes massive amounts of paper and weeks - for example, trade finance, loans, title transfers, identity verification
@matthewgkirk sounds simple when you put it like that!!!
Being able to prove transactions to third parties - whether money or diamonds or carbon credits
@StevenDickens3 That's a great thought, always my question, if what I receive as a customer is truly what the company is saying
Less time to make a transaction - no more waiting days for something to clear - knowing the parties are all trusted and no extra 'touch points' during the transaction....reduction in fees! #fintechtalk
@DonnaExplorer smart contracts will be a key trend I think going forward, contracts where a dependency is met is something we will see more of
@Mkt779 the sooner this applies to house purchases the better for me... just one example
@stevendickens3 House purchases are a great example - at the moment it takes up to a month in the UK to complete the sale
@matthewgkirk Agree with you!
right...if you could get a loan approved instantaneously vs. a month...that would be a HUGE savings!
Maura - great point
how does the shortage of blockchain expertise factor into speed of adoption?
Just like any new technology the rate of expertise for blockchain is increasing rapidly
its a tough space right now, lots of player with 2-years of experience, but that is the space... I would suggest you gravitate to players that have a breadth of experience in not only Blockchain but also large IT projects and LOB applications
For example, at the start of the internet, there were not web designers, no web server expertise, no web programmers