The Future of Business
Cryptocurrency - The Future of Money #140
Hello friend.
First of all — thank you for being patient as this newsletter is delayed by a day. Some big news happened last week, which shifted a lot of the time resources to a new and exciting space for my role as a creative brand strategist, with a deep curiosity for brands and the emerging age of web3 and crypto. Once everything is sorted and ready to be announced I will share it with you first, but for now, it is still some details to be figured out.
I did get some time to disconnect a bit during the weekend. I went to Surbiton which is south of London, just below Wimbledon, where I enjoyed some decent weather, some delicious food, and wine and the surroundings and company were very enjoyable. I also managed to get myself updated on the F1 race in Spa, which always makes Sunday a good day — it gets the adrenaline pumping (just a little bit), as it seems that the champion is already decided for this season with Redbull being in a league of its own. I added my latest youtube video below, which digs into how Fiat is living up to its brand strategy, and I broke down the insight from their latest video, and how you can apply this to your own brand. :)
I am trying to go deeper into the world of crypto and blockchains, and how it all can play an important part in the future of business, as these technologies will play a crucial part in delivering transparency, security and scalability for large amounts of data and transactions. One aspect I find interesting in the context of the younger generation and culture is the fact that sustainability is also something that matters for some of the blockchain networks. If you remember how Ethereum was criticised for its massive power consumption it made them develop a 2.0 version which is a more sustainable alternative. This is also the case for BSV, which is also one of the greenest alternatives available, but with a bit of controversy and discussions around it for different reasons. (more below)
I have also had a few interesting conversations with friends and connections inside the agency and marketing community. It surprises me how most seem to acknowledge that web3, crypto and blockchain exist, but not many take the time to understand or dive into the potential impact it will have for brands in general, but also how it could positively impact the brands they work with, and actually strengthen their offering and business. This is one of the reasons I am taking my time to dive into the aspects of it in the Brand Alchemist Newsletter. If you have any questions or want to have a chat about how this can affect or elevate your business, just reach out — I am here to help and make a positive impact in any way possible.
With that — let’s just dive into it, shall we?
01. Alchemist's Insights:
In the ever-evolving landscape of technology, cryptocurrency stands out as a game-changer. Bitcoin, the pioneer of cryptocurrencies, has paved the way for a new form of digital asset. It was the first to introduce the concept of decentralized digital money, transforming the way we perceive and conduct transactions.
However, Bitcoin is not the only player in the game. Bitcoin SV (BSV), a fork of Bitcoin Cash, has emerged as a significant contender. Named in reference to Bitcoin's pseudonymous creator, Satoshi Nakamoto, BSV proponents believe it is more closely aligned with his original vision. The primary difference between Bitcoin and BSV lies in their block size, with BSV supporting a significantly larger block size, emphasizing scalability and utility for businesses.
In addition to Bitcoin and BSV, other leading cryptocurrencies like Ethereum have also made significant strides. Ethereum, for instance, has introduced the concept of smart contracts, adding a layer of functionality and versatility to blockchain technology.
Why it Matters:
Understanding the dynamics between Bitcoin, BSV, Ethereum, and other leading cryptocurrencies is crucial for anyone interested in the future of money. As these cryptocurrencies evolve, they will undoubtedly influence the way we conduct transactions and perceive value.
For instance, BSV's emphasis on scalability makes it an attractive option for businesses looking to integrate blockchain technology into their operations. Its larger block size allows for more transactions to be processed within a single block, potentially reducing fees and increasing transaction speed. This could have significant implications for brands and marketers, as the preferred cryptocurrency could affect consumer behaviour and payment preferences.
Furthermore, the rise of cryptocurrencies like Ethereum, which supports smart contracts, introduces new possibilities for automating and streamlining business processes. This could revolutionize the way brands interact with their customers, offering opportunities for increased efficiency and trust.
In the context of marketing, understanding these dynamics can provide valuable insights into consumer behaviour and emerging trends. As cryptocurrencies continue to evolve and gain mainstream acceptance, they will undoubtedly play an increasingly significant role in shaping the future of business and marketing.
02. The Creator's Corner
In the world of cryptocurrency, exchanges play a crucial role. They serve as platforms where users can buy, sell, and trade various cryptocurrencies. Among these, Coinbase, Binance, and Kraken stand out as leading exchanges, each with its unique features and offerings.
Coinbase, headquartered in the United States, is known for its user-friendly interface, making it a popular choice for beginners. It supports a wide range of cryptocurrencies and offers various services, including an advanced trading platform, Coinbase Pro.
Binance, on the other hand, offers a more extensive selection of cryptocurrencies and is renowned for its advanced trading features. It's a go-to platform for many experienced traders.
Kraken, another US-based exchange, is recognized for its security features and diverse funding options. It offers a variety of services, including spot trading, futures trading, and even a margin trading option.
Interestingly, Bitcoin SV is not listed on these leading exchanges. This is primarily due to controversies surrounding its lead proponent, Craig Wright, and concerns about the network's security. For instance, Coinbase suspended Bitcoin SV trading following a double-spending attack, highlighting potential vulnerabilities in the BSV network.
Why it Matters:
Understanding the dynamics of these exchanges is crucial for anyone involved in the cryptocurrency market. Each platform has its strengths and weaknesses, influencing where and how users choose to trade their cryptocurrencies.
The absence of BSV from these exchanges also has significant implications. It highlights the importance of network security and the potential impact of individual actors on a cryptocurrency's market perception. For brands and marketers, this underscores the need to understand not just the technical aspects of different cryptocurrencies, but also the broader market dynamics and community sentiment. This knowledge can inform strategic decisions, such as which cryptocurrencies to accept as payment or invest in for future growth.
03. Innovation Spotlight
Smart contracts, digital agreements that automatically execute when predefined conditions are met, are revolutionizing various industries, including marketing and branding. Built on blockchain platforms like Ethereum, smart contracts eliminate the need for intermediaries, offering a more efficient, transparent, and secure way of conducting transactions.
Several companies are already leveraging smart contracts to innovate their business models. For instance, Slock.It, a company that facilitates sharing, payments, and rentals, uses smart contracts to automate the process of renting electric vehicle charging stations. Another example is Fizzy AXA, a French airline that uses smart contracts to automate compensation for late flights.
Interestingly, Etherparty allows users to create their own smart contracts without any prior programming knowledge. This democratization of smart contracts can enable brands to adopt this technology quickly and easily, streamlining processes and mitigating risks.
One of the most exciting applications of smart contracts is in the real estate sector. Propy is a company that facilitates cross-border real estate transactions using smart contracts. This not only simplifies the buying and selling process but also ensures that every step follows necessary and legal protocols.
Why it Matters:
The advent of smart contracts presents a plethora of opportunities for brands and marketers. By automating transactions and ensuring their execution as per predefined rules, smart contracts can increase efficiency, reduce costs, and build trust among consumers.
For instance, brands can use smart contracts to automate loyalty programs, ensuring that rewards are automatically distributed when certain conditions are met. This can enhance the customer experience while reducing the administrative burden on the brand.
Moreover, smart contracts can provide a secure and transparent way of tracking the journey of a product from production to delivery, enhancing supply chain transparency. This can be particularly beneficial for brands that emphasize ethical sourcing and sustainability.
In a world where consumers are increasingly demanding transparency, efficiency, and security, the integration of smart contracts into a brand's operations can provide a significant competitive advantage. As such, understanding and leveraging this technology is becoming increasingly crucial for brands and marketers.
BONUS: Ignite Your Brand Growth:
04. The Transformation Lab
In this section, we spotlight a podcast that delves into the intricacies of cryptocurrency and its potential impact on the future of finance and marketing. The Crypto Marketing Podcast hosted by Ty Smith, a leading figure in the crypto marketing industry, is a treasure trove of insights. The podcast breaks down the most effective tips, techniques, and tools to help you grow your brand in the crypto space.
One episode that stands out is "How to Become a Web3 Thought Leader | Top Tips to Try". This episode provides valuable insights into how brands can position themselves as thought leaders in the Web3 space, a crucial aspect of brand building in the digital age.
Another noteworthy episode is "Ultimate Crypto PR Guide - Crypto Press Releases (What to Know)". This episode delves into the nuances of crypto PR and press releases, providing actionable tips for brands looking to gain visibility in the crypto market.
Why it Matters:
Understanding the dynamics of the crypto market and the marketing strategies that work within this space is crucial for brands looking to venture into this domain. The Crypto Marketing Podcast provides these insights, making it a valuable resource for marketers and brand strategists.
The absence of Bitcoin SV from major exchanges, as discussed in the previous section, highlights the importance of understanding the broader market dynamics and community sentiment in the crypto space. This knowledge can inform strategic decisions, such as which cryptocurrencies to accept as payment or invest in for future growth.
Furthermore, the episodes highlighted above provide actionable tips for brands to establish themselves as thought leaders and effectively leverage PR in the crypto space. These strategies can be instrumental in building brand credibility and visibility in the highly competitive crypto market.
05. Alchemist's Summary
Cryptocurrency is more than just a buzzword; it's a transformative force that's redefining the financial landscape. Its potential impact extends beyond just transactions, influencing sectors like marketing, branding, and customer engagement. As we continue to explore this topic, we'll uncover more about the limitless potential of cryptocurrency and how it's shaping the future of money, which also means the future of business, brands and marketing.
Bitcoin SV (BSV), despite its absence from major exchanges, holds significant relevance, particularly for enterprises. Its emphasis on scalability and utility for businesses sets it apart from many other cryptocurrencies. BSV's larger block size allows for more transactions to be processed within a single block, potentially reducing fees and increasing transaction speed. This makes it an attractive option for businesses looking to integrate blockchain technology into their operations.
In the context of marketing, understanding these dynamics can provide valuable insights into consumer behaviour and emerging trends. As cryptocurrencies continue to evolve and gain mainstream acceptance, they will undoubtedly play an increasingly significant role in shaping the future of business and marketing.
The relevance of BSV, in particular, should not be ignored. Its potential to handle large volumes of transactions efficiently could revolutionize the way businesses operate, opening up new possibilities for customer engagement and transaction processing. For brands, this could mean a more streamlined, efficient, and cost-effective way of conducting business.
Furthermore, the rise of cryptocurrencies like BSV underscores the importance of staying abreast of developments in the crypto space. Brands that are able to adapt and leverage these technologies will be better positioned to meet the evolving needs and expectations of their customers, gaining a competitive edge in the market.
I hope you find this little deep dive interesting and compelling — also, please let me know if there are topics within brand, advertising and marketing that you would like me to dive into in future editions of the Brand Alchemist.
I will keep on delivering this piece of content, and more consistently in the coming weeks, and more is in the works as well.
I do want to hear from you thought, so please write to me, or connect on one of the different platforms, such as Threads, Instagram, Youtube, or Linkedin
Until next time, stay true, stay you!
// Arnt
P.S. If you found this newsletter insightful, why not share it with your network? Let's dive into the endless possibilities of cryptocurrency together. And remember, the conversation doesn't end here. Leave a comment, and let's discuss the power of cryptocurrency for businesses.