When you think of blockchain technology, chances are likely security comes to mind as the top use case. But as we learned at The Blockchain Event today in Ft. Lauderdale during a panel titled Blockchain Innovation Case Studies, the technology is so much more than that.
The panel, which was moderated by TMC Editorial Director Erik Linask, featured Mavatar CEO Susan Akbarpour, South Florida Distillers CEO Avi Aisenberg and Blockchain Talent-In CEO Patrick Murphy —three individuals who are disrupting their industries using this exciting and evolving technology.
Mavatar, for instance, is using blockchain to close the gap between online and offline sales. As Akbarpour explained, advertisers are wasting at least 60 percent of their marketing budgets on outdated advertising strategies that produce little returns on their investments. Most marketing departments are being weighed down by phony metrics that are more distracting than they are worth. At the same time, companies are failing to utilize their most effective influencers, who are posting shoppable content in the form of videos, pictures, articles and more.
Mavatar has created a way for companies to effectively maximize their most effective influencers, over a platform that uses blockchain to cost-effectively process large volumes of micro payments.
“There is a [tremendous opportunity] for blockchain for processing micro payments and settlements,” Akbarpour explained during the panel, adding that blockchain can eliminate “anything that requires a lot of back office services or middlemen. Now,” she explained, “We can have a centralized system take care of influencer payments rather than people sitting in accounting departments writing checks and making mistakes.”
Mavatar’s mCart solution allows shoppers and influencers to create their own store-agnostic shopping carts, which can be posted and shared with online audiences.
South Florida Distillers, meanwhile, is using the excess heat from its cryptocurrency miners to aid in the production of high proof, distilled ethanol. And Talent-In is using blockchain to overhaul the recruiting process. Murphy hopes to streamline recruiting with blockchain’s visibility element, by offering recruiters access to open ledgers that tell job hunters’ actual histories.
This is just a small sample of what you will experience at The Blockchain Event, which runs through tomorrow . To register, click here.
Edited by Mandi Nowitz