Grow VC Group
  • Home
  • Group
  • Team
  • FAQ
  • Join Us
  • Trainee Program
  • Contact
  • News

Blockchain & Millennials: A Relationship of Trust and Transparency?

11/26/2016

Comments

 
Anyone paying attention to the latest news from financial markets would agree that blockchain has been welcomed as the next “big thing” by many professionals due to the new opportunities it presents in terms of business scenarios.

Blockchain comes second only to the invention of the web, experts claim, in its disruptive power which seems to be reshaping every aspect of human activity, spanning from business to law to entrepreneurship with society, at large, ending up being assimilated confirming that blockchain is a real game changer which, sooner or later, will revolutionize also the way we all think.

Finding its roots in the anarchic computing subculture that emerged in the aftermath of the 2008 global recession, researchers refer to the rise of Blockchain as the end of the managerial capitalism era since the decentralization it brings to the system will be able to resolve pertinent issues like the principal-agent dilemma which jeopardizes business performance. 

The innovative nature of blockchain resides in the fact that it acts as a digital form of structuring data which enables the sharing of a digital ledger (book-of-records) across a verified computer network without the need for a central authority with transparency and trust being key to the functioning of the system it creates between peers.

As a survey on millennials points out, this “loyalty challenge” is driven by a variety of factors. For example, one of the pivotal findings of the research is that they feel that most businesses have no ambition beyond profit, and there are distinct differences in what they believe the purpose of business should be and what they perceive it to be.  As a consequence of this, they tend to be loyal just to their personal values, a study in the Harvard Business Review confirms this, with 71% of American millennials that are either not engaged or are actively disengaged at work, ending to be job hoppers. This may imply that, in addition to career opportunities and growth, millennials look for ethical companies, as supported by research in the Journal for Education in Business. In particular,  the incorporation of social responsibility into a company’s strategic plans seems to play a crucial role in the ability to attract and retain Millennials as employees. 

Millennials argue
that this is true not only from an employment perspective but a general consumer perspective in distrust of advertising and a desire for authenticity in brands before purchasing a product. Thus, with loyalty assumed to be the backbone of every successful business both from a producer and a consumer point of view, it is quintessential for companies to be mindful of this gap.  but how? 

One way to proceed as discussed earlier, is in codifying, for example, a smart contract to be placed on the blockchain so that decisions, progresses, or even incentives should be transparent and reached by consensus, as Don Tapscott and Alex Tapscott argue in their book Blockchain Revolution. They contend that the fundamental idea here is that the blockchain economy extends beyond mere technology and it has to do with the need for a new understanding of management systems. Putting this in their own words, “there is an inclusive principle according to which economy works better when it works for everyone, which means creating platforms for distributed capitalism, not just a “redistributed” one”. 

Read the whole article on Crowd Valley News.


Picture
Comments

    About

    Est. 2009 Grow VC Group is building truly global digital businesses. The focus is especially on digitization, data and fintech services. We have very hands-on approach to build businesses and we always want to make them global, scale-up and have the real entrepreneurial spirit.​

    Read the latest Grow VC Group  FinTech, distributed and crypto finance, and blockchain report
    Read the AI, Asia and FinTech report - including comments about potential trade wars.
    Download

    Research Report 1/2018: Distributed Technologies - Changing Finance and the Internet 


    ​Research Report 1/2017: Machines, Asia And Fintech:
    Rise of Globalization and
    Protectionism as a
    Consequence


    Fintech Hybrid Finance Whitepaper

    ​Fintech And Digital Finance Insight & Vision Whitepaper


    Learn More About Our Companies:
    • Difitek
    • Prifina​
    • RE Bearing
    • Token Index Fund
    • Startup Commons
    • Lost in Translations
    • Robocorp
    • Nodi Liber​

    Archives

    November 2019
    October 2019
    September 2019
    August 2019
    July 2019
    June 2019
    May 2019
    April 2019
    March 2019
    February 2019
    January 2019
    December 2018
    November 2018
    September 2018
    July 2018
    June 2018
    May 2018
    April 2018
    March 2018
    February 2018
    January 2018
    December 2017
    November 2017
    October 2017
    September 2017
    August 2017
    July 2017
    June 2017
    May 2017
    April 2017
    March 2017
    February 2017
    January 2017
    December 2016
    November 2016
    October 2016
    September 2016
    August 2016
    July 2016
    June 2016

    Categories

    All
    Difitek
    Grow VC Group
    Robocorp

    RSS Feed

Digital Intelligence Globally
Picture
© 2009-2019 Grow VC Operations Ltd. All Rights Reserved.
  • Home
  • Group
  • Team
  • FAQ
  • Join Us
  • Trainee Program
  • Contact
  • News