Blockchain Consulting

Blockchain Consulting & Development

Bias is a London based blockchain consulting and development agency, with over 10 years of Fintech experience covering consulting, ICO, product development, marketing, sales, proof of concept projects and security token adoption. The areas in which we deliver these services are retail, supply chain, capital markets and real estate, although these are not definitive.

Having worked with a number of businesses in Fintech and Instech, Bias Consulting and Developments consultants have built a reputation around strategy and delivery.

 

Not only are our consultants proficient in blockchain methodologies, architecture, proof of concept and go to market strategy, they have also been involved in startups themselves.

 

Our CEO Paul Sullivan is a requested writer and regular panellist discussing topics such as Retail Supply Chain and Cryptocurrency in Retail as well as Blockchain in Capital Markets and Security Token Adoption.

What is Distributed Ledger Technology?

Distributed Ledger Technology, DLT or Blockchain as it is commonly called is a digital ledger of record the logs transactions of assets in multiple points of entry to avoid fraud. Now, this doesn’t mean that fraud is eradicated entirely if you submit an originally fraudulent entry, that is now a permanent record, but it does stop records being amended to suit the purpose.

 

Instead, you have to submit a record to reverse the original and then another to correct or amend it, thereby leaving an authentic trail that can be reconciled properly. Therefore, and unlike traditional databases, distributed ledgers have no centralised data storage point or administrative point of entry.

 

So, Blockchain and DLT are effectively one and the same thing although not all DLT’s are blockchain.

 

The blockchain is about trust

 

The Blockchain, in all of its formats, is primarily focused on trust. The technology provides a number of benefits for its adopters including but not limited to; security, decentralisation, privacy and transparency.

Blockchain Consulting & Development

Blockchain Security

Security, especially around personal data and financial records has been deteriorating for a decade, high profile hacks since 2010 have proven that current solutions just aren’t suitable. Therefore a solution that is both transparent and secure, without a centralised owner, should be welcomed with open arms.

 

Blockchain uses cryptography to allow individuals to own crypto assets at a secure address (if in a cold wallet), by using a combination of public and private keys made up of random letters and numbers usually in 16 digits. This goes somewhat towards helping users keep their accounts secure, providing the keys aren’t written down and stored in a publically accessible place.

Blockchain Consulting & Development

Decentralisation of Ownership

The biggest “pro” of blockchain technology is its decentralised nature. This means that there is no one central point of access. It takes away for centralised authorities and hands control over to the users or community.

 

Data is recorded onto the blockchain using consensus protocols* across a network of nodes to validate the transactions and record data in an incorruptible manner. As blockchain is immutable* by nature, it keeps an honest, accurate, and transparent record of a transaction. Therefore as the system no longer relies on a central authority, the fees usually associated with them are no longer required. Ultimately making blockchain cheaper, safer, more transparent and nigh on impossible to manipulate.

 

Please note that decentralisation is not the same as cloud storage, which is a common misconception.

An immutable ledger of record, available for public scrutiny can start to bring the trust back between citizens and financial institutions.

Blockchain Consulting & Development

Privacy Controls

Privacy has always been a bone of contention in many shapes and forms. From what internet browsers hold about us, to what the brands and businesses we interact with keep on file. Blockchain and GDPR have provided the opportunity to deregister from the lists our data is held on and take back ownership. We no longer have to be part of the marketing and sales cog that turns industry. In fact, blockchain has enabled us to take back control of our information and to own the sale of our personal data.

 

What blockchain brings is the lack of need of a network and associated identity layer, such as email address, name, telephone, or any other personal identifier. All identifiers are hashed into cryptographic codes meaning no identifiable data is stored anywhere on a blockchain unless there is a direct purpose.

Blockchain Consulting & Development

Decentralisation of Ownership

Blockchain transparency stems from the fact that all records are open to public scrutiny. When you are equipped with a user’s public address, you can view all of that user’s holdings and transaction history.

 

Transparency of this magnitude has not been seen in financial systems before and is causing huge disruption amongst traditionalist entities. There is a degree of accountability that huge financial businesses aren’t yet ready for and there are cases that arguably shouldn’t be easily accessible. For example, a large corporations trading strategy, and yet that bucks exactly what blockchains stand for.

 

In short, the transparency of blockchain will bring a new level of integrity as yet unseen in today’s financial economy.

Blockchain in Supply Chain Solutions

BIAS have been working on a retail supply chain solutions that not only enables complete visibility and tracking from source to shopfront, they also enhance the customer experience.

Through the use of smart contracts and a blockchain based platform, a brand could show a customer buying a food product and the journey that item took. It’s literally a “farm to fork solution” whilst enabling a host of business as usual solutions running underneath it.

 

BIAS deliver supply chain solutions on blockchain for enterprise clients and retail brands alike. We also tokenise reward systems, designed to enhance customer experience and reduce costs.

 

For businesses looking for blockchain solutions in retail, contact BIAS for more details on how we can help you solve the blockchain problem.

Blockchain Loyalty Token Solutions

Blockchain-based loyalty systems are finely poised to replace the current points-based reward schemes. By adopting a peer to peer based referral system, that also rewards its users for bringing more customers into the ecosystem, a blockchain loyalty token solution has huge potential.

 

Let’s look at high volume low-cost businesses, like coffee shops for example or supermarkets. They both seek return customers and brand loyalty, and they typically both adopt loyalty systems to do so.

 

If you replace those systems with tokens, the transition can be seamless. However, by adopting a token over a point, you can increase customer experience using the blockchain technology underneath it as well as potentially moving to a completely cashless model. All without taking on the market volatility of a cryptocurrency. If you would like to know more talk to a BIAS blockchain consultant today.

Reduce Transaction Processing Costs

Use Blockchain for Transparency

Business to Community Solution

Increase Customer Retention

Tokenised Reward Scheme

Cashless Business Opportunity