COMMUNITY, AN IMPORTANT FACTOR TO A SUCCESSFUL BLOCKCHAIN PROJECT
Since the introduction of Bitcoin to the digital asset scene powered by blockchain technology, cryptocurrency has fast grown into a multimillion dollar industry and now pushing towards massive adoption due to the fact that this technology is being widely incorporated across several platforms and industries. The most famous use of blockchain technology is cryptocurrency. Indeed, blockchain was actually invented by the now legendary Satoshi Nakamoto to allow for the creation of the world‘s first cryptocurrency , bitcoin. Satoshi came up with the blockchain principle to solve the problem that stood in the way of all digital currencies, namely the “double spending” problem.
Now with the innovation that the blockchain and tokenization brings, businesses and start - ups globally are already scrambling to understand how integrating blockchain technology into their platforms will benefit them. The main problem businesses face is the a lack of information regarding how this can be done but a major factor to the success of organizations powered by blockchain technology is their community support.
Blockchain Technology Adoption
The list of organizations using blockchain technology as a tool to develop grows every single day. Numerous platforms have already implemented blockchain technology some better than others. For instance organizations like Chronobank, which is Fintech Company that offers HR solutions powered by blockchain technology and a few more I would like to mention which I rate very highly.
Another platform running on blockchain technology is Chromia, which is a UX user friendly decentralized applications (DApps) development platform. Chromia runs on a Postchain framework and implements relational blockchain which is a very special type of blockchain technology because on Relational blockchain the state of the blockchain is expressed in relational data bases which can be intergrated with business applications. This innovative technology is putting them on the map of blockchain development.
Next on the list is Tokoin, an Indonesia based blockchain powered project targeted at expediting MSME growth starting from Indonesia with prospects of global outreach. Tokoin offers a straightforward but practical solution to the major problem of MSME’s in Indonesia which is funding. Tokoin’s mission is to issue MSME business profiles to guarantee their data integrity, create a virtual ledger for each MSME transactions, Lower financial inclusion barriers by providing reputation scoring, establishing a sustainable business model that enables MSMEs to perform in higher scale and increasing the economic capability of the whole MSMEs ecosystem. Tokoin is about to make history in Asia.
Power of Community Support
There are several factors contributing to success of any blockchain powered project but a major one is community activity and support. A project with a strong community is just as important as high developer activity. The larger and more involved the community is, the more valuable their digital asset will be. Having a large community but more importantly an active one would be driving force for any project which will boost the project’s development.
Conclusion
The projects mention in the article are platforms that have huge community support which is evident in the activity of their supporters and investors major online and through social media. Social media has become a massive tool reach out to people. Another thing these projects have in common is their first hand interactions with their community, either by events and meet ups to online AMA session and quick customer support response. These projects also reward active community members which also add incentive for some community members. The community has the power to make or break a project so a happy community almost guarantees a successful project.
Chronobank’s Website : https://chronobank.io/
Chromia
Website: https://chromia.com
TelegramChat: https://t.me/hellochromia
Twitter: https://twitter.com/teamchromia
Facebook: https://web.facebook.com/teamchromia/
Linkedin: https://www.linkedin.com/company/chromia/
Tokoin
Website: https://tokoin.io
TelegramChat: http://t.me/tokoinglobal
Twitter: https://twitter.com/TokoinOfficial
Facebook: https://www.facebook.com/TokoinOfficial
Medium: https://medium.com/@tokoin
Instagram: https://www.instagram.com/tokoinofficial
Linkedin: https://www.linkedin.com/company/tokoinofficial/
Whitepaper: https://www.tokoin.io/whitepaper/Whitepaper.pdf?id=05f5c9d62d22ae24ea82