Blockchains improve security, keep crucial documents safe and secure, increase protection from cyber threats, and thus reduce the part of intermediaries. It also increases the speed of completion. Enabling hackers from benefiting in this fast-moving world. Especially when everything has become technological friendly and online, blockchain consulting services offer a compelling alternative, as stored data is collectively fragmented when the data is missing.
A few benefits of this technology are data reconciliation, harmonization, standardization and decreasing the level of risk. Before we speak about the main characteristics of blockchain, let us highlight what a blockchain consulting company is. First of all, it is a broad term and has many uses. Therefore, it performs various jobs from marketing to education, having a role to play.
Purpose of blockchain consulting and its importance
Who is a consultant? An individual that’s main role is to save his/her client enough so that they can pay his/her fee. Blockchains can do and handle the various amount of tasks. Marketing is one of them, being the most common one. This is a service all blockchains offer. One cannot underestimate the power of marketing strategy to blockchains startups. The ICO is dependent on catching the eye of the people, thus attracting them to not just believe in the product, but invest their money in the right place, therefore helping introduce it in the market.
Blockchain consulting services specialize in PR and marketing. Therefore it can provide various services, beginning with brand strategy, developing marketing ideas to handling daily marketing work such as social media management, website development, logo design, press releases, and searching for publications for coverage. These are just a few. There are many other more.
It’s not just marketing!
Marketing is just the beginning; other purposes include navigation, technical services, education, crowdfunding, and post-ICO services. Under navigating a regular minefield comes regulatory and legal compliance. They cover subjects like analysis of the legalized landscapes, providing a helping hand in organizing and sorting the mandatory know-your-customer also in the processes of anti-money-laundering. Thus, it takes care of the durability that all project documents like technical or white papers have the needed caveats and disclaimers.
How does it impact the technical server? It could be a high possibility that a mind-blowing idea could come to anyone. However, that person might not be technical. Therefore instead of letting the idea go to the dogs. One should find a blockchain developer who could help that person implement the vision and reach their potential. Several blockchain companies have technical developers that are part of the blockchain consulting services helping blockchains provide technical services.
Education Is Crucial
Blockchains consulting services have a crucial role to play when it comes to education and knowledge. Very few are aware of blockchain as it’s a rising technology. A massive number of firms could benefit by just incorporating it. They however have little understanding or none at all, of how to implement it in their business. That’s why several blockchain companies focus on education.
They aim at online courses, which could be a great means of money for them. However, it can even mean sending a representation to a firm for conducting a training program. They can even help businesses and firms understand if a certain blockchain consulting service is beneficial and would be able to provide the required solutions. This means an offer to handle and oversee a specific project in which the solution is implemented.
Post-ICO services and crowdfunding
Blockchain consulting services have to make sure they run themselves as a legalized compliant company once it has a project in the flow. Meaning handling finances well, employing and paying team members enough, so they work well. One mustn’t forget business planning for a long period and the latest marketing trend along with tools. A few blockchain consulting companies will be offering certain strategies and services that will help startups and small businesses. Therefore services such as human resources, marketing and the creation of financial reports are offered.
New possibilities are being opened as digital is underpinned with real ones. A good example is a firm wanting to start a new product, thus wanting to sell shares in its own company by itself through an STO. A real-life example is the Aspen coin. Through blockchain consulting services existing business can understand their options, seeing their left opportunities through the use of blockchain, therefore crowdfunding to raise capital.
Why choose EY Services?
EY and Accenture are some blockchain consulting companies that provide blockchain consulting services. Thus, the main characteristics of blockchain are:
- Distributed ledger: A distributed ledger means that each member part of the network will have a copy of the transactions. Apart from it, this transaction will be safe through encryption from the occurrence of any tampering.
- Consensus algorithm: In this, no server will be held responsible for the approval of any transactions, therefore leading up to the authentic distribution of processing transactions. Therefore, being known that all entries are validated as well as recorded in all ledgers over all the internet.
- Smart programmable ledger: Through this, transactions are sent with rules, and minor programs will govern the way of transaction processing.
EY has a different approach to blockchains; it starts with the assessment of the maturity, of different service lines. Therefore, seeing whether they can support various development enterprises. So when it comes to blockchain consulting services, why should one choose EY?
First of all, it helps in organizational awareness, spreading it as far as possible. The main aim of its first stage is the level of awareness. Therefore, being a team to identify and recognize the potential of blockchain consulting services. It also helps in executing the blockchain opportunity evaluation. The second stage is based on the identification of applicant areas, thus using cases which would get the highest added values. The third phase is the development of road map transformation. It’s all about prioritizing and consolidation. Finally, the fourth and final stage is being there for implementation, in other words, supporting.
Partnership
Did you know that global spending on enterprise blockchain strategy and solutions got to $6.6 billion in 2021. Blockchain consulting services sometimes partner with other firms, such as technical services. Since it is impossible for small blockchains to cover all services they offer. Therefore by partnering, they make a big team. However, it has to be crucial to see they have the same common niche.
