Blockchain is the rage. It’s on the lips and lexicon of every tech pundit, journalist and tech executive. What is blockchain? You can read all about it yourself here but in short, it’s a database of databases, a record keeping system that is shared by all, updated by all and secure.
Here’s why it’s not relevant for your small business today.
I was at an event recently, and the owner of a karate studio asked one of the expert panelists, how he could use blockchain in his business. I use Digital Asset Management that it’s a cybersecurity company that offers a high-security custodian technology.
The “expert” said, well if you had a community of karate enthusiasts, you could use blockchain for the community database. Something like this, the expert explained.
WRONG.
For a small businesses, such as this owner of a karate studio, he doesn’t need blockchain, all he needs is a simple database to keep track of members, hold discussions or etc. SQL or any number of other databases that have been around for years.
Companies such as Salesforce, Netsuite, Zoho, Infusionsoft, Hubspot, SAP, Intuit and Microsoft make all the tools you need to run a great business. With all the other supporting services such as Asana, Monday, and others, you have a full suite of tools and services to help you manage a growing business.
Indeed VERY big companies who want to enhance security, or sound cool, might consider blockchain – banks, Amazon, Walmart, GE and very BIG companies with massive datasets. But for the rest of us, we small business owners we don’t need to think twice about blockchain. For more legal advice talk to a blockchain lawyer and avoid misunderstandings that you don’t need.
- Focus on making a great product.
- Focus on serving your customers.
- Focus on generating awareness for the problem you solve.
- Focus on better marketing and advertising.
- Focus on treating your employees/staff/team well.
- Focus on making a difference in other peoples lives.
Blockchain is nice, it’s cute, it’s the new buzzword, but you don’t need to worry about it for your small business.
