Any company that wants to establish themselves with the use of blockchain in their technology may seem a little overwhelmed by the transition. Launching the ICO for the company needs to be precise, following every single regulation in a constantly-changing industry. Right now, there seems to be a pull towards this technology for the businesses that have functioned before it. Each company is trying to adapt before other products run them out.
The actual need and integration of blockchain technology has come with mixed opinions. The most common ways that these companies have shown their new technology is either by adding “blockchain” to their official title or developed a sector within the brand for it. Luckily, due to the lack of information being passed around the industry, there are many consulting firms that have been offering their services to help companies make their changes.
One of the companies getting on the bandwagon is CryptoGeeks, which provides “distributed ledger technology development and consultancy by certified experts.” CEO Malcolm Cauchi refers to their business as a “boutique software house,” which has experts in blockchain technology. Most of their focus is on products that are modified to suit the user’s needs, which ensures that the products will have a smooth integration.
Since CryptoGeeks is a consulting firm, they have a more objective perspective on blockchain, common issues in the industry, and weak points. Malcolm has said that the biggest mistake that companies make is
“starting a project without fully understanding the blockchain in a particular field.”
Without this understanding, there are many financial companies that don’t even understand what blockchain does, which makes it hard to know if it’s the best choice for their world. With CryptoGeeks approach to each company being so customized, they are able to educate the business as to what they need to do for a successful ICO.
However, Cauchi said,
“If we feel that an ICO will not add value, or in some way is not [going to give] investors a good return on their investment. We try to take a step back. If they want to take our consultation, of course, we can amend that and get them in line with what they would like to achieve.”
With the setup from CryptoGeeks, consumers are able to reduce the risk of a virus or other malicious attack on their platform, which keeps both investors and the company safe.
Even though there’s many changes around the proper use of blockchain and cryptocurrency, Cauchi still supports the way that blockchain can move them forward. He calls blockchain technology “extremely powerful and sound,” which is probably the reason that so many solutions are being developed for companies in every industry.
CryptoGeeks is majorly benefiting from the transition, since so many companies are turning to them for assistance. However, there are also many entrepreneurs getting into their own businesses that could thrive on a foundation of blockchain technology, instead of having it later. No matter what the industry or longevity of the brand has been, CryptoGeeks has been doing their best to be part of this major place in history.