Blockchain is "the" key strategic enabler to change and transform business for both: our future and the good of all. It will alter business, administration and society of how we conduct business beyond recognition. Decentralization in a trustful environment will push the power to the user. This is the revolution or in other words, the most significant change. What is more, tokenization is the means to it ends to transfer value for all kind of peer-to-peer (P2P) transactions, i.e without intermediary. I created this Blockchain MyPlatform (BCNME) for both to present business opportunities and to introduce interested parties as well as stakeholders to the Blockchain universe.
Ultimately, Blockchain creates not only a pro-growth token economy, but also a prosperous future for society.
The BCNME platform also introduces the most recent developments, investment options, partners of excellence and competence, and actors.
Blockchain and token economy
Blockchain technology will disrupt, transform and innovate the current way we conduct business. Blockchain stores information decentrally in blocks that are logged to each other in a chronological order generating a chain of blocks. Smart contracts will drive process automatisation and absolute digitalisation will take over. Blockchain technology constitutes the bridge for a new Economy of Things (EoT) based on digital tokens. New business models will emerge and create “Businesses as a Service” (BaaS) standard. Decentralised applications (DApps) will be the means to its end. Time to get ready for exploitation blockchain opportunities.
According to Marco Iansiti and Karim R. Lakhani (2017), “Blockchain is an open, distributed ledger that can record transactions between two parties efficiently and in a verifiable and permanent way.”
Blockchain stores information decentrally in blocks that are logged to each other in a chronological order metaphorically generating a chain of blocks, hence, blockchain.
The decentralization is the most distinctive feature of Blockchain and marks the difference with digital platforms. Blockchain is aimed at putting peer-to-peer transactions into play without the need for a trusted third party. In other words, each Blockchain data owner involved ensures that the data is correct.
“With blockchain, we can imagine a world in which contracts are embedded in digital code and stored in transparent, shared databases, where they are protected from deletion, tampering, and revision. In this world every agreement, every process, every task, and every payment would have a digital record and signature that could be identified, validated, stored, and shared. Intermediaries like lawyers, brokers, and bankers might no longer be necessary. Individuals, organisations, machines, and algorithms would freely transact and interact with one another with little friction” (Iansiti and Lakhani, 2017).
Moreover, a transaction register provides transparency and clarity of the process. The legitimation against the blockchain is done with a private key or in other words a cryptographic key, the so-called token. It is known only to the authorised party and, in my opinion, this represents one of the greatest risks. If the digital key, i.e. token is lost, indeed everything is lost forever (possessions, assets, ownership rights, etc.). This can, however, be prevented by additional measures and through newly emerging service providers.
Blockchain with its distributed ledger technology (DLT) enables to work in a democratised way by reducing the barrier to access the market and fostering new business and organizational models.
This development has the potential to make new business models emerge and to disrupt the current status quo of conducting business (Frommelt, 2019a).
Thriving Blockchain use case, digital commons and public-private partnership concept
Please tune in and watch the Coffee from the Block talk concerning 360° Vehicle Life Cycle Management with Blockchain Technology and the launch of a digital eDriving License. Thomas Nägele aka Dr. Token interviews Otto C. Frommelt. During the interview, he postulates that: "Blockchain Technology, smart contracts and tokenization are the means to its end to ultimately transfer value and create a token economy".
All relevant information during the life cycle of a vehicle is stored in a transparent and trustworthy private-premissioned Blockchain where secure and reliable data exchange and customised data ownership is guaranteed.
The benefit is an absolute digitalization of customer/citizen processes in own ecosystem to conduct business 24/7/365.
Moreover, a token economy evolves to buy, register, service and sell vehicles.
Research by the University of Zurich Blockchain Center indicates that verified vehicle lifetime data (e.g. a digital ecosystem) will increase the sales price by 5% and it ensures that not buying a so called lemon car.
In addition, a public-private partnership (PPP) with a seasoned “digital commons” (in German aka Allmende) concept and business approach is discussed. It is worth noting that Elinor Ostrom - first woman that was awarded the Nobel Memorial Prize in Economic Sciences - with regards to the "analysis of economic governance, especially the commons", i.e. Governing the Commons (Die Verfassung der Allmende) and Mayo Fuster Morell coined the term Digital Commons:
A future oriented co-creation, participative and collaborative approach. The notion of polycentricity and self-determination are crucial design principles for the stable common pool resources (CPR) management.
The Oxford Blockchain Strategy Framework is a comprehensive tool for strategy development (Oxford Blockchain Strategy Programme, 2019). If Blockchain technology can be a feasible solution, there is a need to analyze and assess whether a blockchain provides a use case. The process is to determine if defined key criteria (e.g. Is there a predictable, repeatable process that lends itself well to automation? Is there an element of value transfer? etc.) could solve your business case, then start planning how to use blockchain with regards to:
The three layers constitute the basis for creating a blockchain platform in order to conduct business and transactions in a trustful and transparent environment. Distributed applications (DApps) will become the new standard for convenience, speed and easiness for any kind of transaction to undertake.
No central database: The power and benefit is in the decentralisation by Blockchain technology.
Blueprint for future digital ecosystems illustrations
A digital ecosystem is presented and a blueprint to manage Blockchain business opportunities are elaborated upon. The following presentation and video outline and showcase how a lighthouse project can be implemented. The cardossier PPP approach is an integral part for the experience sharing and co-creation by xTeams.
The Blockchain Breakthrough: Innovative Vehicle Life Cycle Management (Presentation at UNECE, Geneva)
The Blockchain Breakthrough: Innovative Vehicle Life Cycle Management (Video at UNECE, Geneva)
Blockchain in Public Administration: Coffee on the block with Dr. Thomas Nägele and Dr. Otto C. Frommelt (Video German version)
Selected Blockchain business cases
A few use cases of particular interest in the Blockchain universe are presented. They run follows:
Cardossier / The Motor Chain / Cannsol Holding / Powerledger & Staking
Crowd Machine go / Polkadot / Aeternity / TaaS - Transparency as a Service AG
State of DApps / edeXa | The Business Blockchain
Blockchain know-how and savoir-faire
Introducing Blockchain technology needs both i) a professional know-how and ii) a savoir-faire. In order to introduce a successful Blockchain strategy, it is highly recommended to work with seasoned experts in the Blockchain universe such as:
The Internet of Blockchains / Blockchain Meet-up Liechtenstein / CV Labs
Naegele Blockchain Law / Batliner Wanger Batliner Law / Ganten Group
Mobility Blockchain Infrastructure Initiative (MOBI) / AdNovum
Crypto Country Association (CCA) / Token Summit Liechenstein | Token Economy
edeXa | The Blockchain Blockchain and Universe / Checko.io
TraceX Technologies / TaaS - Transparency as a Service AG
Circular mobility ecosystem, iMobility and 360° multimodal logistics supply chain management
Outlining Road User Charging (RUC) for sustainability and proposing a circular mobility ecosystem that includes individual mobility (Im) with a lifetime CO2 footprint for the future. It considers "all" transport modes, i.e. walking, bicycle, bike, scooter, car, truck, bus, plane, ship etc.
The objective is to minimize the individual lifetime CO2 footprint and to enhance the behavior of oneself. It was a great honor to present as key note speaker this forward thinking concept at Intertraffic in Amsterdam, March 2022.
Blockchain technology will also contribute to manage smart mobility, enhance transport management, road usage and road traffic safety.
Keynote presentation: RAI Amsterdam, Intertraffic, International Road Federation (IRF), 2022
Mobility vision: I would experience a seamless and smart mobility, where I am transported from A to B in the most optimal way, using all possible transport modes in a climate-neutral, cost-effective and timely manner. A shift to a new "Mobility as a Service" (MaaS) business model enables the best means of transport for every occasion, i.e., Horses for Courses.
From "ownership" approach to "use" by offering end-to-end management of a customer’s assets and services to boost a sustainable smart mobility.
Mobility token (T)
Presentation and launch of Mobility Token (T) at the Token Summit Liechtenstein 2022 on 13 October 2022 organized by Cryptocurrency Association (CCA) Liechtenstein. The "T" stands for Tau: a greek letter in the alphabet. Trust is built into the digital ecosystem utilizing blockchain and applying as guiding principles KYC, AML and GDPR: No more lemon car and no more getting duped when buying a used car (see also Lemon Law in the USA). Lemon car means in German ein Montagsauto (a car that has hidden defects and is difficult to repair). In addition, a higher sales transaction price can be achieved as all transactions are in the blockchain documented and immutable.
The Mobility Token (T) is the means to transfer value and conduct peer-to-peer transaction under legal certainty in a trustful business environment.
The Token will catapult mobility services, information exchange and asset management onto a next level, i.e. to buy, sell or dispose a vehicle will be fast and easy done in the Blockchain. This unique Mobility Token was designed by Dr. Otto C. Frommelt and he holds its copyright.
Smart Mobility in the Blockchain is paramount for logistics and supply chain management within a digital ecosystem. Logistics means to have the right quantity with the right quality delivered on time in a sustainable way the considers the environment, society and governance in an holistic approach.
360° Multimodal Logistics Supply Chain Management vision: The CO2-footprint in conjunction with environmental, social and governance (ESG) accounting as well as reporting showcases the sustainable logistics choices, future way of working and cooperating among ecosystem actors.
It ensures a sustainable and green smart mobility for the future by co-creating and participating to develop a digital ecosystem among its actors and all relevant stakeholder. Ultimately, the vision is a contribution for a decarbonised world.
Blockchain competences and universe
Competences in the Blockchain universe can be found inter alia in the following institutions, organizations and experts of knowledge:
European Blockchain Services Infrastructure (EBSI) / Cambridge Blockchain Energy Consumption
Impuls Liechtenstein / Stabstelle Finanzplatzinnovation / MIT Sloan CIO Symposium
European Blockchain Convention / 101 Blockchains Academy
University of Zürich Blockchain Center / EU Blockchain Observatory & Forum
Blockchain governance and distributed culture mindset
While Blockchain drives a philosophy of a distributed ledger technology (DLT), there is also a strong need to create a new business approach with regards to manage both, technology governance and business governance.
In addition, a prerequisite to be open for a new mindset as far as distributed culture is concerned, should be addressed.
In short, distributed ledger meets distributed culture mindset and new way of working. The framework "Corporate governance in the blockchain and distributed culture mindset" outlines and presents a new mantra.
Know you customer (KYC), Anti-money laundering (AML) and the European Union (EU) General Data Protection Regulation (GDPR) are critical requirements for a sound governance and ethical management in the Blockchain universe.
More information with regards to state of the art Blockchain governance across organizations and states to be found:
Blockchain Governance across Organisations and States | Presentation at Public Sector Artificial Intelligence & Blockchain Summit, Berlin, 2019
Blockchain investment opportunities
Every day more Blockchain business opportunities are created and arise in the various sectors all around the globe. The list outset below is just a small glimpse.
Cryptocurrency market / Pangea / Bank Frick Crypto Trading / VPBank Tokenization
Blockchain Founders Group / edeXa | The Business Blockchain
Blockchain news to stay tuned
The Blockchain universe is in full expansion and development for new business opportunities. The latest developments and news can be found:
The Block / Blockchain Asia / Brave new coin
Coin Telegraph / Blockchain News
Blockchain for future success, profit and growth
In summary, three strategic key driver will fundamentally change how we conduct business in the future:
Blockchain expertise, digital ecosystem and Strategy Advisory
Being a pro-active Member of Cardossier Association since 2019, a public-private partnership (PPP) consortium of 28 reputable actors, to develop a vehicle life cycle management platform with blockchain technology, Blockchain Strategy Advisor at Blockchain Founders Group (BFG) for start-ups and Blockchain Ambassador, I would like to share my comprehensive expertise and Blockchain experience in the private and public business arena as Broad Member, Advisor, Expert of Knowledge, for Corporate Governance Management and as professional Speaking Partner.
Are you ready to transform and tokenize the world?
From theory to practice. From talking to doing. From drawing board to market introduction. Get blockchainized to create a token economy for success and decarbonized robust growth.
Acknowledment and thank you to all my Blockchain partners as well as friends around the globe, I have met on this most exciting journey. What is more, I have learned a lot and continue to do so in the Blockchain universe. Let's continue the journey into a safer, more trustful and sustainable future.