3 ms·
I think there is potential to reduce costs of operating a business with a blockchain by removing a class of middlemen through better automation and standardizat
by crispyporkbites 7y ago
I think there is potential to reduce costs of operating a business with a blockchain by removing a class of middlemen through better automation and standardization. Here's some examples that might work:
- If we run all transactions a business makes through a blockchain with the right tooling the accounting & taxation could be massively automated, submitting P&L reports and other extremely expensive accounting processes could be completely replaced with code
- If all IPOs were run as ICOs, it would take out an entire class of banker, who are currently extracting value that could be captured elsewhere
- Any service that provides one-sided transactions. E.g. donating to charity - you could build a cheaper and more transparent service that allows people to donate to a charity, directly into their accounts (and potentially onward). Imagine going onto justgiving.com and donating directly to a recpient without any middle-men (aside from the blockchain itself)
I'm not sure how much of the blockchain trust model you specifically need for this, but if you think of blockchain technology as an open data structure and global, distributed computer the use cases start to materialize, even if we're not ready for them yet, if ever.