NGP Capital invests in growth-stage companies, with an initial check size of $10 million
Venture capital used to be a cottage industry, with very few investing in tomorrow’s products and services. Oh, how times have changed!
While there are more startups than ever, there’s also more money chasing them. In this series, we look at the new (or relatively new) VCs in the early stages: seed and Series A.
But just who are these funds and venture capitalists that run them? What kinds of investments do they like making, and how do they see themselves in the VC landscape?
We’re highlighting key members of the community to find out.
Paul Asel is Managing Partner at NGP Capital.
Asel has realized 20 successful investments, including five IPOs and four $1 billion plus exits, of which UCWeb and Ganji were two of the largest technology acquisitions in China. Other successful exits include KongZhong, DQ Entertainment, Gridsum, Morpho, Madhouse, Whistle, CityMaps and Intermedia.
He has been engaged in acquisitions and IPOs valued cumulatively at over $25 billion. He is currently focused on NGP Capital’s investments in the US and Asia in the mobile, IOT and auto sectors.
Asel is currently on the Boards of Gigwalk, Workfusion and Zubie. Prior to NGP Capital, he was responsible for technology investments in Asia at the International Finance Corporation. Previously, he oversaw M&A and corporate venture activity at Cadence Design Systems and worked at Merrill Lynch in investment banking.
He received an MBA from Stanford and a BA from Dartmouth. Ansel is co-author of Upward Bound: Lessons of How Nine Leaders Achieved their Summits. He has served as an Advisory Board member at the University of Baltimore and Adjunct Professor of International Entrepreneurship at the George Mason School of Public Policy.
VatorNews: What is your investment philosophy or methodology?
Paul Asel: NGP Capital is a global firm. We have $1 billion under management, we’ve been operating since 2005 and we have four funds that we have been investing out of. We’re currently investing out of a $350 million fund IV.
We are global, thesis-driven investors. We have offices in China, Europe and the United States, and we really take a thesis-driven approach to investing so we source our companies locally, but we develop ideas globally. We believe that technology innovation is done globally now; when I started investing 30 years ago, we used to have the bridge rule, which is that if the investment involves crossing a bridge it’s a bridge too far, and the belief was that all good things emanate out of Silicon Valley. What we’ve found is that we’re now in a multi-polar world, where investments and great ideas are emerging from Asia, Europe and the United States. So, we look at different sectors, we look at them globally, we believe that global pattern recognition is helpful to identify good opportunities early, and then we invest in companies that we think have the opportunity to engage globally. So, we can accelerate their growth by being able to put them into our global network.
VN: What are your categories of interest?
PA: Our focus is on investing in the connected world. We believe that everything and everyone will transmit a signal, that we’re moving from a mobile-first to a data-first world, and that artificial intelligence, or what we believe to be augmented intelligence with a human in the loop, is translating those massive amounts of data from noise into signal.
VN: Obviously data is a very broad category, and just about everything can benefit from it. So, are there specific verticals you like to invest in?
PA: We’re investing in three different areas: the intelligent enterprise, so looking at ways in which data either enables or disrupts industries. Then we’re looking at the consumer and ways that data augments our daily personal lives. Specifically, we’re looking at the transportation industry, smart mobility, and the belief that we are moving from transportation an an owned asset to transportation-as-a-service.
So, the areas we invest in intelligent enterprise, smart mobility and then mobile technologies. The thing that brings that together is a focus on 5G, that everyone transmits a signal, and then looking specifically at the enterprise, sector, the consumer sector and then smart mobility, and ways in which that plays out in each of those sectors.
VN: What’s the big macro trend you’re betting on?
PA: The macro trend is really this connected world concept. So, we believe there’s a confluence of cloud, mobile, sensors and intelligence. With sensors, we’re seeing a profusion of different ways of having data transmitted through the cloud, which makes data available in real-time, and then intelligence enables that to translate into signals. So, it really is this idea that the connected world is moving us from a mobile-first to a data-first world.
It might be helpful to give examples of how we’re seeing that play out. So, think of the mobility space: Uber is a solution that could not have existed 10 years ago, but is really the basis of having mobile technology and smart mobile phones that have enabled that new business model to emerge. Similarly, we look at micromobility and companies like Lime, which we’ve invested in, and shared vehicles, whether it’s cars or mobile phones, really was not a viable business model until maybe the last five years. Now, by having sensors on scooters and bikes, it allows for a shared transport model. We think that this gives an opportunity for new industries to emerge and existing industries to be disrupted.
VN: How many investments do you typically make in a year?
PA: Across the portfolio, we will make about 25 investments. Typically we do about 10 investments per year.
VN: What stage/series do you invest in and how much is that in dollar amount for you?
PA: We have a $350 million fund and we’re investing that over let’s say three years, so we’re investing, on average, about $100 million a year. So, the average initial investment is $10 million.
We’re investing in growth stage companies, so companies that have a proven technology that’s validated in the market with customers, and they’re looking for expansion capital to grow their business, and ideally companies that can grow globally.
VN: What kind of traction does a startup need for you to invest? Do you have any specific numbers?
PA: We’re looking for companies that have product market fit, so we define that as being companies that have referenceable customers that validate the technology and business model, and that they’re pursuing a large market opportunity that can build a significant company. We are typically Series B investors, so we’re not the first institution in, but we generally are in the round after that, so it varies by industry, but our sweet spot are companies that have $2 and $10 in revenue.
VN: What other signals do you look for? Team, product, macro market?
PA: Team is very important, and we believe that, ultimately, it’s the team that drives success for the business. So, we’re looking for a capable team, a proven technology and a large market opportunity.
Typically, we’re looking for companies that are able to grow at least 50 percent per year, where the unit economics of the business are positive and demonstrated. Then, really looking to try scale that business, so that it becomes the leader in its market segment.
VN: How do define a large market opportunity?
PA: One that would be serving a $1 billion plus market.
VN: What do you think about valuations these days? What’s a typical Seed pre-money valuation and Series A?
PA: We are in a market that’s a seller’s market. Prices have doubled over the last five years, so in order to get comparable returns, companies are going to need to be able to produce twice the results as they did five years ago. We’re looking to invest in good companies at fair prices, not fair companies at good prices; we’re looking for companies that have room to be able to substantially grow their business and produce a 10x type return for us.
VN: If companies need to produce twice the results than they did just five years ago, what does that mean for today’s companies in terms of meeting those expectations and to get to the next round?
PA: We’ve actually advised a lot of our companies to go out and bring in investors who can really help them build a business to its full potential, and to focus less on pricing. We find that entrepreneurs frequently have a price in mind, oftentimes a very aggressive price, and if you get investors that come in at an aggressive price, their expectations are much higher for the business. If an entrepreneur can deliver on that then that’s great, but sometimes high price expectations causes companies to do unnatural acts. We actually advise our companies that they’re better off making sure that they’re bringing in quality investors who can help them grow the business.
At the end of the day, the only thing that matters to both entrepreneurs and investors is that they have a good outcome at the time of exit, so we want to maximize the likelihood of magnitude of success at the time of exit, rather than at each interim round of financing.
VN: There are many venture funds out there today, how do you differentiate yourself to limited partners?
PA: We think we are a unique asset in the market: we’re a global, thesis-driven investor that works very well with corporate partners, so we invest with insight, we have a global view that we offer to both limited partners and entrepreneurs. The combination of having a global perspective, with investment activities and people on the ground in Asia, Europe and the United States, there are very few firms that operate globally out of one fund; there are probably less than two or three who do that from a venture perspective.
Then, we take a thesis-driven approach, investing with deep industry expertise in mobile technology. We have seven partners who, together, have over 200 years investment experience. So, we have a very experienced team, and all of us have 20 or more years experience in investing and operating in the mobile sector. So, we have deep expertise, and the ability to apply that in a global engagement model, that’s a very unique value proposition for those who want to go global and are operating in the sectors we’re active in.
VN: Venture is a two-way street, where investors also have to pitch themselves. How do you differentiate your fund to entrepreneurs?
PA: Our value proposition is the same for investors as it for entrepreneurs: we’re global, we can help them expand globally, we’re deeply knowledgeable in the sectors in which we’re investing, we have a portfolio of companies that are relevant to them, so pattern recognition and network is very deep in the companies we’re investing in, and we’ve got a deep knowledge-base that will help them increase the likelihood of their success.
VN: What are some of the investments you’ve made that you’re super excited about? Why did you want to invest in those companies?
PA: I’ve been investing now for over 25 years, and during that time I’ve been able to create well over $2 billion of value for my shareholders, and have invested about a half dozen companies in the early stage that have turned into $1 billion plus companies.
Before we invested in smart mobility, we were looking at location-based technology, the idea that search was to the internet as location was to the mobile industry, and that location was what made information highly targeted and monetizable in real time. As we were looking at location, we, ultimately, came on the idea of mobile classifieds. The idea was that you could put the old classified in newspapers into a mobile environment and make them actionable and searchable in real time, and that location was important for a variety of types of services. So, we looked at that area globally and we, ultimately, invested in Ganji in China. We invested in that company at a $75 million valuation, when they had $2 million revenues; ultimately they grew that by well over 100 times during the course of our investment, and we sold the company for $3.6 billion in a merger with 58.com, or WUBA, in China. So, we went from $75 million to about $3.6 billion.
We liked that trend, and based on our positive experience in China, we invested in a mobile classified business in India called Quikr when it had zero revenues and $35 million pre-money valuation. It has grown over the last five years and is now valued at over $1.5 billion. That’s an example of having pattern recognition, where we saw the online classifieds industry, we didn’t really any experience when we initially invested in having that be mobile but we were really investing in some of the mobile leaders, and then we applied that across a couple of our different markets in China and India.
Another example of our global model in action is our investments Lime and a Chinese moped company. We saw the shared bike market emerging in China back in late 2016, with Mobike and Ofo and the very significant traction they were getting. Those two companies each were producing about four million rides per day using a shared biking model. We, ultimately, thought that that model would be better in Europe and the United States, because the hardware cost would be the same but there would be a higher average price per ride. So, we looked at all the companies in Europe and the United States and we chose to invest in Lime when they had about $30,000 in revenue, they had just launched their operations three months before. We invested in September 2017, so just over two years ago, and the company has grown tremendously since then; they have well over 100 million rides that they have provided to people so far, so really tremendous growth. They’ve expanded to over 100 cities in Europe and the United States in the last two years.
Based on our positive experience with Lime, we ended up going full circle, back to China, and this Spring invested in a shared moped company operating in smaller cities in China, cities of 250,000 and 1 million people. That company has grown extremely well, even in the six months that we’ve been invested they’ve over 5x in terms of ride volume and is operating profitably. We are delighted with a number of the things that we’re investing in in smart mobility. Another company that we invested in was GetYourGuide in Europe, and that company has grown extremely well; Softbank just invested $500 million into that business this Spring. So, across our smart mobility area, which is the global practice that I’m heading, we’ve made about 20 investments so far and we’ve already have four different investments that have turned into $1 billion companies.
VN: What are some lessons you learned?
PA: I’ve learned that, ultimately, we’re investing in people, so we believe in investing in great teams. We have a saying that we are kingmakers, not kings; that, ultimately, it’s the people that we’re investing in that we want to see succeed and if they, and their companies, succeed then we benefit from that success.
When we look at companies, we’re looking for entrepreneurs that have tremendous passion, a sense of urgency, industry insight and experience where we think they can drive a large outcome. When we invest with them, we spend a lot of time talking to them up front about what their vision is for the business, and it’s very important that we get a vision match, that we have a shared perspective on how we think the industry will involve and the company’s role in that. If we have a vision match, then we’re largely focused on executing on that together.
VN: What excites you the most about your position as VC?
PA: It’s three things: one is that we really enjoy working with the entrepreneurs. Secondly, we want to make a difference in the world. And, third, is we’re constantly learning; we’re investing in new areas, and constantly having to learn about new technologies and new business opportunities.
One of the first meetings I had was when I was in Russia back in 1991. Russia was just changing from a Soviet system to a more open, capitalist system, and one of the first entrepreneurs I met came in and he started describing the problems in Russia. He said, ‘We’ve got 2,000 percent inflation, 25 percent unemployment. We’ve got people who are selling their treasures out on the street, just trying to survive.’ So I started feeling a bit depressed, and when I got a tear in my eye, he got a twinkle in his and he said, ‘So, that’s the problem, now let me tell you about the opportunity.’ That’s when I realized I just love working with entrepreneurs because the bigger the problem, the greater the opportunity.
VN: Is there anything else that you think I should know about you or the firm or your thoughts about the venture industry in general?
PA: I talked a bit in the beginning about our connected world thesis; the one thing I’d want to highlight on that is that McKinsey has that said the internet impacted 15 percent of GDP, and the Internet of Things is going to impact the other 85 percent. So, we believe that this connected world vision applies to a broad set of industries, and, as you said, data can apply in a variety of ways. We think that the areas that we’re focused on are a couple of areas where this is going to be particularly impactful.
The other thing I want to highlight is that we think that technology has a profound opportunity to change the world and to have an impact on some of the world’s great problems. We think about areas like income inequality. One of the companies I’m invested in is Juvo, which helps provide a banking solution for the unbanked. About half the people in the world do not have steady access to credit or to a banking account, so this is a company that is now working with over 250 million people around the world, giving them access to credit. So, we think there’s an opportunity for technology to have a profound impact and that’s what I’m excited about. We’re operating on a global scale, and we’re looking for solutions that really can impact the lives of hundreds of millions of people. In fact, a number of the companies that we’ve invested in are operating at that level.
Overview and Market Trends of Crypto Games in 2021
The number of gamers worldwide is estimated at around 2.6 billion in 2020. The upward trend will add another 125 million by the end of 2021. About half of them hail from the Asia-Pacific region. The crypto gaming scene is representing an increasingly large portion of that number. Crypto games are still a relatively unknown term, at least to the general public, but in 2021 they are expected to explode due to various trends detected in this year. The potential is just too great to be ignored. Ability to reward players and let them trade for real money their in-game items is something a lot of games have tried – mostly unsuccessfully – to achieve in the past. Thanks to blockchain technology, that goal is possible now.
What Is Crypto Gaming?
Crypto games are a relatively new addition to the gaming world. The first games appeared just a few years ago. The main aspect of crypto games is collecting items that rise or fall in value and that can be sold at any time, provided you can find a buyer. One of the first popular crypto games was CryptoKitties. In the game, you can buy a cat and groom it. You can even buy two and breed new kittens. The price goes up and down and you can sell your cats or buy new ones. The most expensive cat ever sold on CryptoKitties reached an astonishing price of $117,000. It was to be expected that the first crypto games would be about cats, but they came in all shapes and flavors. You can collect heroes, monsters, fish, even hamsters. Considering the choice of genres, it is easy to find a game that suits your preferences.
Crypto and iGaming
The iGaming industry is one of the fastest-growing segments of gaming. It is expected to reach a value of 300 billion by 2025. It is no wonder then that a lot of crypto developers are pivoting to it, making their coins iGaming-friendly. 2021 will be huge in terms of using bitcoin for iGaming, judging by some indicators. There is even talk of creating digital coins exclusively for online gambling, although that is far-fetched at the moment. Already established coins, like Bitcoin, Tether, and Ethereum are functioning just fine and are being adopted by more and more online casinos. At this rate, there won’t be an online gambling platform that doesn’t accept them by the end of 2021.
The Trending Platform in 2021
Most crypto games available today are based on the Ethereum blockchain and we don’t see that changing in 2021. Simply put, the Ethereum blockchain is an extremely convenient platform for this kind of apps. IT is readily available, easily modified, and has great tech support to bail out developers when they hit a snag. All these attributes make Ethereum perfect for crypto gaming since the majority of the studios developing games are independent. As such, they can’t afford the muscle power large developers have at their disposal, and having friendly tech support and a platform that can be easily adapted to their needs is crucial. However, this too can change in the upcoming year, but more on that later.
As we mentioned earlier, there is only a handful of big names in crypto gaming. Most developers are small indie companies and startups. For the last two or three years, they have been working diligently to create games and in 2021, they are poised to reap the benefits of their hard work. Some of the games, like My Crypto Heroes or Blockchain Cuties, already boast thousands of players and are ready to blow. This will allow their creators to emerge as the first crypto gaming powerhouses on the market. On the other hand, a lot of established studios are eyeing crypto gaming and making plans to join in the fray. They will bring to bear a massive amount of money, influence, and talent, which will affect the segment in a considerable way.
The Benefits of Crypto Gaming
Blockchain technology is on the verge of transforming the Internet. The benefits it offers are huge, but one thing that is slowing its implementation is that most people don’t know enough about it. Crypto games can help with that. By presenting this newfangled technology in a familiar manner – and what is more familiar than gaming – crypto games will allow people to get acquainted with it. This familiarity will make the adoption of all other applications of blockchain that much easier. Even casual gamers, who spend just a few hours weekly playing crypto games will be familiar enough with it that blockchain won’t sound so alien to them. Crypto games will help the world adjust to blockchain in preparation for its wide application.
Crypto Games That Will Mark 2021
Predicting which games will be huge in 2021 can be ungrateful, but we will give it a try. One of our favorites is Forgotten Artifacts. It appeals to our Dr. Indiana Jones fantasies, as it lets you collect various items and artifacts around the game world. The game is still in beta and one limitation is that it can only be played with an Enjin wallet. My Crypto Heroes is another game that shows tremendous potential. Based on Japanese mythology, it allows you to collect various heroes and train them to add new characteristics and increase their value. For our final recommendation, we have chosen Blockchain Cuties. Think of it as Tamagotchi, but with cute monsters instead. You can collect them, breed them, and train them to increase their skill in battle.
Zumo launches smart portfolio feature to view and manage overall crypto assets
- Zumo Smartfolio allows users to clearly access the current and historical value of their digital currencies
- The feature, included in the app’s 2.13 version, also provides insights into possible exchange opportunities to make a profit
Edinburgh, UK – 21 December 2020.- Zumo, the digital wallet and payments platform, has launched Zumo Smartfolio, the latest of the app’s innovative features enabling users to view and manage their overall crypto assets and track the relative position of each of their exchanges in a simple and intuitive way.
The introduction of Zumo Smartfolio in the 2.13 version of the app allows users to access the current and historical value of their exchanges, as well as to see how much gain, or loss, they have made on them over time. The new feature includes a smart portfolio score calculated by matching a user’s buying positions with their sales, providing insights into possible exchange opportunities that could make them profit.
In addition, Zumo Smartfolio has been designed to ensure users can view their data in an intuitive way through interactive pie and line graphs. Users can set the time frame of their Smartfolio to see how their asset values have changed with one day, one week, one month, three months, and all-inclusive timeframes.
Paul Roach, chief product officer of Zumo, said: “By offering Zumo users this feature, we make it even easier for them to take control of their own funds and become responsible smart money-savers, investors or traders. Or even all three.
“Zumo Smartfolio is the latest of a series of innovative features we are launching in the next few months. Users will soon be able to view and download their entire exchange history, as well as their associated Smartfolio data, and spend cryptocurrency alongside traditional money in everyday situations with the upcoming Zumo convertible debit card.”
Zumo App was launched in the UK to make the benefits of blockchain and cryptocurrencies more accessible to everyone by offering users the chance to buy, sell, spend, and send both fiat and cryptocurrencies. The launch of Zumo version 2.12 in November introduced Exchange Price Alerts, a feature that allows users to set up price alerts, notifying them when the price of Bitcoin or Ether reaches a certain level.
NOTES TO EDITORS
Founded in Edinburgh in 2018 by experienced entrepreneurs Paul Roach and Nick Jones, Zumo’s fully decentralized, patent-pending, HD wallet infrastructure is available direct to consumers through Zumo App and to businesses through ZumoKit (our SDK) and enterprise partnership solutions in the developing world.
Zumo is a purpose-driven fintech business with transparency and financial inclusion at the core of our values. We’re on a mission to bring the benefits of decentralization, digital assets, and blockchain technology to ordinary people, everywhere. Our platform enables users to safely store, send, spend, and exchange digital money anywhere in the world easily and cheaply from a mobile device. We do this in the fastest, most transparent, and secure way possible. Our core technology is patent-pending and massively differentiated, giving us the potential to create a world-leading position for a British company, whilst making a big contribution to financial inclusion at a time of the global crisis caused by Covid-19.
For more information
Mob +44 7912 483423
Beyond Limits to Expand Industrial AI in Energy with Nvidia
LOS ANGELES, CA – December 16, 2020 – Beyond Limits, an industrial and enterprise-grade AI technology company built for the most demanding sectors, today announced it is working with NVIDIA to advance its initiative for bringing digital transformation to the energy sector.
Beyond Limits will collaborate with NVIDIA experts on joint go-to-market strategies for Beyond Limits’ products and solutions in the energy sector. The company will also take advantage of NVIDIA technical support and GPU-optimized AI software such as containers, models, and application frameworks from the NVIDIA NGC catalog to improve the performance and efficiency of its software development cycle.
“AI has the potential to make a major impact on problems facing the heart of the global energy business, but the technology requires high levels of computing power to operate on the level and scale required by many of today’s global producers,” said AJ Abdallat, CEO of Beyond Limits. “That’s why we’re so excited to collaborate with NVIDIA, a leading provider of AI computing platforms. With NVIDIA technology support and expertise, Beyond Limits is better positioned to offer faster, more intelligent, and efficient AI-based solutions for maximizing energy production and profitability.”
Breakthroughs in novel high-performance AI solutions are projected to have significant impacts throughout the energy industry. One key challenge facing the upstream oil and gas sector includes the resource requirement for optimizing well deployments, especially when data on a region’s geological properties is highly uncertain. To overcome this problem, Beyond Limits developed a novel deep reinforcement learning (DRL) framework trained using NVIDIA A100 Tensor Core GPUs, capable of running 167,000 complex scenario simulations in 36 hours. Following initial tests, the DRL framework yielded a 208% increase in NPV value by predicting and recommending well placements, based on the number of actions explored and the expected financial return from reservoir production over time.
“The NVIDIA A100 offers the performance and reliability required to meet the demands of the modern-day energy sector,” said Marc Spieler, Global Energy Director at NVIDIA. “The ability to process hundreds of thousands of AI simulations in real-time provides the insight required for Beyond Limits to develop scalable applications that advance energy technologies.”
Beyond Limits Cognitive AI applies human-like reasoning to solve problems, combining encoded human knowledge with machine learning techniques and allowing systems to adapt and continue to operate even when data is in short supply or uncertain. As a result, Beyond Limits’ customers are able to elevate operational insights, improve operating conditions, enhance performance at every level, and ultimately increase profits. For more information, please visit https://www.beyond.ai/solutions/beyond-energy.
About Beyond Limits
Beyond Limits is an industrial and enterprise-grade artificial intelligence company built for the most demanding sectors including energy, utilities, and healthcare.
Beyond traditional artificial intelligence, Beyond Limits’ unique Cognitive AI technology combines numeric techniques like machine learning with knowledge-based reasoning to produce actionable intelligence. Customers implement Beyond Limits AI to boost operational insights, improve operating conditions, enhance performance at every level, and ultimately increase profits as a result.
Founded in 2014, Beyond Limits leverages a significant investment portfolio of advanced technology developed at Caltech’s Jet Propulsion Laboratory for NASA space missions. The company was recently honored by CB Insights on their 2020 List of Top AI 100 most innovative artificial intelligence startups and by Frost & Sullivan for their North American Technology Innovation Award.
For more information, please visit www.beyond.ai.
LEWIS for Beyond Limits
7 Ways to Skyrocket Business Growth Using Blockchain
Every business owner is looking for ways to expand their market reach and boost their revenue generation. Luckily, technological advancements are providing new strategies that can set them apart from competitors in the market.
Blockchain technology is one of those fresh strategies that is quickly transforming the business realm. This technology stores transaction in an electronic register (database) in the form of blocks, where they cannot be altered in any shape or form. People only associate Blockchain technology with cryptocurrencies, misunderstanding that it is just a branch. This article highlights how your business can benefit by adopting the path of Blockchain technology.
Here are 7 ways to skyrocket your business growth using Blockchain:
1. Helps Build Trust with Customers
Many businesses fear that changing up strategies can be detrimental to their success. But the truth is that if businesses want to stay relevant in the long-run, then they need to embrace new trends and technologies.
This fear is often associated with Blockchain technology as it is relatively new compared to more traditional systems. But leveraging Blockchain can help companies unlock unearthed potential and improve their audience reach. The best way to get started is by showing existing customers how this technology can offer a lot of advantages, the most important being increased confidentiality.
Businesses that aren’t ready to accept this change will get left behind, so now’s your chance to make the shift.
2. Adds Ease In Employing Reliable Staff
Businesses need to have a cooperative and committing staff to be able to increase their business’s development because “team-work makes the dream work.”
However, it requires a lot of time and research to be able to recruit employees that are dedicated enough. Blockchain can ease that burden and does the job quickly.
Most candidates will add information in their CVs that might not be accurate; Blockchain can allow you to legally have access to all their personal records, like academic and past employment. This way, you can check the legitimacy of their aptitude and be able to recruit the most talented.
Hence, this method can help you hire the staff that will help you reach your goals in your business and gain success.
3. Prevents Irrelevant Ads
Online advertisement has been around for a very long time. They can’t be taken down or get removed as a lot of money has been spent on them. How many times have we been interrupted by ads while browsing the web for something? Too many! Blockchain can play a major part in eliminating the amount of spammy content we’re subjected to while browsing. Since ads cannot be removed from the internet, Blockchain gives clients the liberty to choose what kind of ads they would like to see while surfing the net. This way, the person who creates those ads can also benefit from this by gaining qualified traffic and having more exposure.
4. Makes Online Transactions Secure And Confidential
Most people worry about their personal information being compromised or getting hacked when performing online transactions. However, the Blockchain prevents that from happening.
It makes sure that all the weak points are fixed so that it cannot be tampered with or hacked. It allows you to perform online transactions on the internet without needing to use payment processors like PayPal, Bank, Credit Card, etc.
It also ensures that a customer’s previous transactions can’t be viewed unless it’s someone who is a relative or involved with the customer. For example, a carpet cleaning company leverages Blockchain technology to aid customers in conducting anonymous online transactions, eliminating all kinds of additional charges which are involved when using traditional payment methods. This will definitely act as a draw to those tech-savvy audiences that are keen to shop online without leaving any traceable tracks behind.
5. Improved Auditing
The Blockchain serves as a balance sheet to document transactions and check if they are efficient and authentic. The process of evaluating recorded transactions to check if it is precise, applicable, and dependable is known as an audit.
For example, instead of asking third parties to send confirmation statements, auditors can easily validate transactions by using free Blockchain ledgers online.
6. Easy to Raise Funds
There used to be a time where you would need to request a loan from a bank to be able to fund your business, but now the times have changed drastically. Now you can find multiple ways to fund your business.
ICO (Initial Coin Offering) has become the most well-known and admired way to raise capital for your business venture. It can also be known as a token sale. Investors are offered a token in the form of cryptocurrency in exchange for real money or any other digital currency. This new methodology helps to raise funds as it offers some form of value to the investor.
7. Successful Marketing Campaign
Companies depend on data related to consumer interest’s drive better marketing. Market research is another area where Blockchain technology can help third-party companies to obtain actionable insights. There have been some notable use cases of Blockchain that are empowering digital marketers to build better relationships with customers. This is known as Blockchain Marketing.
Since Blockchain requires no middleman, there is an emphasis on consumer data confidentiality. And the data is owned by the customer, so they’re able to share it willingly with the advertising platform. Once the data is provided, marketers can direct more personalized campaigns towards specified audiences, so there are higher conversions. Moving forward, we are more likely to see this form of digital advertising being leveraged by companies.
Conclusion – Using Blockchain the Smart Way
If you are planning to upgrade your business through the implementation of Blockchain, it is advised to keep in touch with a legitimate Blockchain development firm. This technology has just entered the phase of implementation, with research being conducted to discover its range of applications. With little knowledge available about its hidden challenges, it will be tough to navigate obstacles due to lack of experience. But with its immense potential, it would be foolish not to harness the power of this technology.
Source: Shaheryar Sadiq. Shaheryar provides ghostwriting and copywriting services. His educational background in the technical field and business studies helps him in tackling topics ranging from career and business productivity to web development and digital marketing.
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