The most important technological advances of the decade is Blockchain

Blockchain is a technology without borders. It is a growing list of records, called blocks, that are linked using cryptography. It is entirely global, decentralised and its application is receiving a great amount of interest from major market players. Traditional companies are starting to implement blockchain into various parts of its business model and new business start-ups with great ideas are being set up each day. Having a well thought out service offering and business plan will be key to success.


What is blockchain technology?

The term “blockchain technology” typically refers to the transparent, trustless, publicly accessible ledger that allows us to securely transfer the ownership of units of value using public key encryption and proof of work methods. The Bitcoin Network is the first successful implementation of blockchain technology.

The technology uses decentralized consensus to maintain the network, which means it is not centrally controlled by a bank, corporation, or government. In fact, the larger the network grows and becomes increasingly decentralized, the more secure it becomes.

The potential for blockchain technology is not limited to bitcoin. As such, it has gained a lot of attention in a variety of industries including: financial services, charities and nonprofits, the arts, and e-commerce.


What do companies use blockchain for?

The way in which blockchain is used can vary significantly. For established companies, it is generally about how blockchain can add value to the existing business model, either through cost savings and/or through a more efficient and transparent product offering. For business start-ups, it is normally about creating a product to resolve a current world problem that can be serviced properly and scaled as necessary.


What do our services entail?

Ultimately, the idea is yours. We are not here to tell you what product to sell and we are not here to tell you how to run your business. But what we can do is provide you with a number of advisory services in key areas of business which will provide you with the best chances of success. Aside from our DLT Licensing services we can provide you with (here), we can also provide you with the following services:

Corporate Governance review: Corporate governance relates to the system by which companies are directed and controlled. Having the appropriate level of corporate governance is critical in order for a business to succeed for both short- and long-term sustainability.

Risk Management review: Developing a good Risk Management Framework will create the right infrastructure for identification of the risks most pertinent to a business so that they can be analysed, measured and controlled in line with the Company’s risk appetite. Risk Policy, Risk Register and Risk Reporting are also key features of good Risk Management and should be considered by every sound business.

Competitor, Product & market analysis: Technology evolves at a fast pace. An analysis into what your competitors are doing and how your product can be improved should be an ongoing task. Additionally, our team at TAG Consultancy can help you to reposition products and services and come up with new and innovative ways to approach and acquire customers, allowing for faster and more efficient scalability of your business operations.

Business model analysis: Analysing your business model by a third party can bring an objective and independent view towards the way strategy is implemented in your company and by working together, it can set the right tone for coming up with new and better ideas.

Vendor analysis: No business can operate exclusively on their own. There are a wide range of vendors in the market, each specialising in different areas of business and so it is very important to choose the parties which are most suited to your needs and offer you the greatest benefits.

Bespoke services: We can also provide you with a number of other bespoke services relative to analysis of your business model and strategy. Get in touch with us here and let’s work together to make your business a success!