Blockchain tech needs a ‘ChatGPT moment’ to scale enterprise adoption

Whereas some large names like Starbucks and Nike have been fast to undertake blockchain expertise to advertise and work with their manufacturers, it appears that it’s going to nonetheless take a bit of labor and time till we see the broader enterprise house embrace the tech.

“I haven’t seen any killer use case but,” Gary Liu, co-founder and CEO of person information answer supplier Terminal 3, mentioned throughout a hearth chat at Korea Blockchain Week. “I feel we’re actually, actually early in enterprise adoption.”

“If the definition of ‘killer’ is a billion customers, then I completely agree,” added Yue Hong Zhang, managing director and associate of Boston Consulting Group, the place he oversees web3 and digital property. “I don’t suppose enterprise blockchain has seen a ChatGPT second. Everybody talked about AI for thus a few years, nevertheless it turned actually fashionable with ChatGPT.”

“ChatGPT is a good instance,” Liu mentioned. “AI went by way of 4, 5 – 6 phases earlier than that second. . . . It’s an incredible instance of the endurance obligatory earlier than [an event of that scale happens] within the blockchain client enterprise world.”

However how can blockchain companies present conventional firms and types that they need to spend money on the expertise? In accordance with Liu, you must persuade them that company benefits come earlier than client scale. “Advertising and concentrating on turns into considerably sooner,” he mentioned.

An instance of that is Cathay Pacific Group, which has been using blockchain technology since 2018 for mileage advertising campaigns. The airline big additionally launched a blockchain rewards program for its prospects in 2021.

The airline is concentrating on and utilizing buyer data by way of blockchain expertise to run advertising campaigns, Liu mentioned. This implies the settlement of mileage factors is considerably sooner and fewer handbook than different advertising campaigns, which results in value financial savings, he added.