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Tag Archives: Boston Consulting Group report

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The Real Reason Blockchain Is Not Ready for Mass Scaling

  by David Drake     Blockchain has proven to be disruptive technology with capabilities previously not imagined.  It offers comparative advantages of transparency, speed and efficiency over other existing payment networks. These advantages have propelled blockchain to the top with developers, investors and corporates scrambling for a piece of the pie. Over the last 18 months, numerous projects have been developed on blockchain. They include BlockVest designed to support management of digital asset portfolios, BQT for facilitating hedge fund trading, Gath3r for optimizing web mining and ONe Network for securing social interactions. Other interesting projects backed by blockchain include family smart contracts platform URAllowance, interactive marketing platform, Noiz Chain, crypto coupon marketplace, Qupon and portfolio optimization platform, LiveTradr. By the end of 2017, at least 200 enterprises were piloting Ethereum’s blockchain in different ways. Players such as Ripple were having enterprise customers piloting on its blockchain in small-scale. However, 2018 ... Read More »

Key Issues Hindering Blockchain’s Mass Adoption

  By David Drake   Since its inception, blockchain has experienced significant growth with tests and trials being conducted in different sectors. Its popularity has been based on its ability to provide  transparency, security and transaction tracking solutions. However, despite the increased popularity of blockchain benefits, mass adoption of the technology remains a mirage for many with trading volumes remaining insignificant. Joseph Oreste, founder & CEO of Qupon says, “Trading volume is insignificant due, in part, to the lack of commercial applications running on these distributed ledgers. Here at Qupon we are doing our part to revolutionize the multi-billion dollar coupon industry, providing a global decentralized marketplace for merchants to advertise crypto coupons as digital assets on blockchain technology.” For corporates, the major hindrance to mass adoption of blockchain is the cost of changing to a new system. Such a shift would involve acquisition of new equipment and development of ... Read More »

Why Blockchain Technology is Not Ideal for Commodity Trading

  By David Drake   Blockchain has been hailed as the technology that could alter the way businesses run across the globe. Its potential has attracted developers across different sectors and encouraged development of solutions to problems such as portfolio optimization by LiveTradr, digital coupon marketplace for Qupon, security of social interactions on ONe Network and portfolio management for the emerging digital assets class on BlockVest. Other blockchain backed solutions that are gaining traction include family smart contracts on URAllowance, peer to peer hedge fund trading on BQT, web mining optimization on Gath3r, and interactive marketing on Noiz Chain. Even so, over the last two years the activities conducted on the blockchain appear to be voluminous, it is emerging that they are still insignificant compared to the full potential of blockchain usage. A report published by the Boston Consulting Group (BCG) a few weeks ago shows that application of blockchain ... Read More »

What is Hindering Blockchain Adoption in the Commodity Market?

  by David Drake    Blockchain has largely been seen as the technology that solves inefficiencies in businesses, reduces the risk of fraud and improves transparency. As such, commodity banks and companies have been tapping into the distributed ledger technology and piloting trials over the last 2 years. Blockchain utilizes a distributed database that is able to process transactions and settle them within minutes. It is also able to update in real time and does not need a third party to verify transactions. The technology has become a backbone for innovative projects in the business sector including hedge fund trading platform, BQT, family smart contracts project, URAllowance, digital asset portfolio management platform, BlockVest, web mining optimization platform, Gath3r, online customer satisfaction platform, IOU and cryptocurrency coupon advertising platform, Qupon. However, a recent report released by the Boston Consulting Group now concludes that application of this technology in commodity trading may ... Read More »

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