Three ways blockchain disrupts traditional business models

An essential component in business is adapting to technological trends and providing the best possible services for customers. This is known as providing a customer-centric experience. Examples of adapting technology and focusing on customer-centric experiences are shown through Walmart and Amazon. These businesses traded at $400B (Walmart) and $24B (Amazon) as of 2010. As e-commerce and digital technology grew, the revenue of Walmart grew to $576B and Amazon $477B in March and April 2022. However, as with e-commerce improving traditional business, cryptocurrency and blockchain have the potential to disrupt and revolutionize traditional business by providing unparalleled new customer-centric utility. For example, Binance had revenue of over $20 billion in 2020 and Coinbase $4 billion in 2021. These two exchanges are but two of many, and blockchain also features non-fungible token (NFT) marketplaces just as lucrative with OpenSea trading around $2 billion in volume monthly. Despite this success, no traditional business has merged the success of blockchain technology with their business. Therefore here are three ways cryptocurrency and blockchain technology can disrupt traditional business. 1. Customer-centric shopping experience The most substantial success in the e-commerce industry is the ability to cater for the customer, helping them find the perfect product at the best price. Amazon employed this as their focus, and profes...