Tokenization and Entrepreneurs How to Bridge the Gap Between Them?
In a Forbes article, David K. Williams talks about how to grow a company and include blockchain and virtual currencies to their projects. He explained that his team is continuously working in order to address the newest challenges in the market.
He said that most of the entrepreneurs do not know how to include digital assets in their companies and that it is sometimes out of reach for most of the investors. Williams tells that he spoke with the co-founder of NASGO, Eric Tippets, that has an important background in the cryptocurrency and blockchain world.
NASGO was able to make cryptocurrency easy to understand and use for those that do not know about virtual currencies. During his week, the company launched a platform known as ‘BlockBox’ which helps individuals and users create their utility token.
The so called BlockBox toolkit includes different elements such as:
- Blockchain Domain Address
- The ability to retrofit the current website for blockchain
- Tokenize a company to increase loyal users and incentivize customers
There are several opportunities for launching an easy-to-access blockchain domain. Individuals and businesses were able to purchase over $332 million traditional web domains just in 2017.
NASGO wants to enable as many sites as possible, if they are able, to offer blockchain support. It is also possible to accept virtual currencies in exchange for services from a company. In this way, there will be a new option for customers to pay for products and services.
With this service it is also possible to avoid volatility since the owner does not have to sell the assets after the whole day of work. The system does everything for the seller.
NASGO is also working in order to bring several enterprises into a common exchange. This would make it easy to pay for utilities, for ride share and other commodity goods and services on the platform. The concept is already being used in some regions in China.
However, one of the most important use cases of virtual currencies for entrepreneurs is to create branded tokens. This currency would be used to reward fans and followers, or very important clients. With it, it’s possible to create a fluid system for social impact projects.
For example, a musician could use tokens to allow users have access to new music, or VIP seats at some events, or exclusive merchandising.
Other companies could use these tokens to expand their influence as company ambassador or gain important discounts and services without having to depend on traditional currencies.