Digital currency and the blockchain are two terms that everyone’s heard of and few actually understand. Honestly, this industry took some time for us to grasp so you’re not alone if you’re one of the masses. Unfortunately, the information regarding digital assets and blockchain is clouded by an overuse of complex terminology to try and describe rather simple processes. What you’re seeing now is a shift from the internet being primarily a display of information (Web 2.0) to now an internet of value (Web 3.0) where users can exchange not only information but also value…
The digital currency ecosystem comprises of smart contracts on blockchains/distributed ledger technologies to store and manage values. What does this mean? Say you have a painting you’d like to sell - typically an owner sells to a buyer, makes a profit, and forgets about it. Now, there are smart contracts where the transfer of the asset can still be done physically, but terms can be negotiated and enforced digitally and the possibility of terms is far greater. For instance, the painting can have a royalty negotiated in a smart contract where every time that painting is sold after that first initial buyer, you (the first owner) can earn a percentage of the following sales. All of this is recorded on the blockchain which stores these contracts and manages values. This is overly simplified but the point remains the same.
The digital transition is impacting traditional banking, payments, and other financial and non financial service players. Now is the time to accept this movement and demystify this new landscape.
So how can we help?
Leveraging extensive experience in financial services, we can help you with:
Gain a solid understanding of the fast-moving digital asset landscape and the impact on your field.
Learn how to weave digital assets into your business and operating model.
Conduct assessments for investors.
Build models in collaboration with our network of experts.
