As we try to keep readers informed about how blockchain is advancing (or not) across the commercial banking and payments space, it is worth a remembering that business models across the industrial space can be supported by BCT. This indicated piece, posted at TechBullion, describes an interview with the head of OpenLedger ApS, a 2015 Danish startup company that provides a cryptocurrency exchange, along with a custom development service, as well as marketing support for companies seeking an ICO, as one example. Those following developments in BCT will be familiar with the current dearth of blockchain development talent across the general industrial space, where use cases outside of cryptos were not widely explored until just a couple of years back.
‘OpenLedger ApS is a business ecosystem based on the blockchain. We have a decentralized exchange, a blockchain-oriented ad platform, a blockchain explorer and consulting and custom development services – all designed to let a business take advantage of blockchain’s unique benefits, without necessarily having the know-how in-house……OpenLedger solves the problem that businesses need blockchain but can’t access it. The barrier to entry is mostly about skills and comprehension – businesses just want the functionality, so that’s what we help them to access…..In particular, we’ll match businesses up with the right tools, and help them with things like selecting the right blockchain, development and deployment.’
In the FS industry the bulk of development hype has been through platform organizations such as the R3 consortium, Hyperledger, Etherum, etc. along with bank collaboration and some of enterprise megatech companies like Accenture and IBM, who were early to establish business practices around BCT. And let’s not forget the increasing number of blockchain-friendly sovereign efforts, including places like Singapore, Thailand and Switzerland. So it’s good to see a rise of fintechs covering the space in market-specific ways. It’s typically a good idea to understand the markets where you want to develop and sell.
‘As far as legal is concerned, we’re paying great attention to this part of OpenLedger operations. We’re very much interested in greater accessibility of our projects, that’s why strong legal teams in Europe, the USA and Asia not only work to cover daily OpenLedger activities, but also advise on our projects to make sure they comply with different countries’ legislation frameworks.’
In the meantime, as these BCT companies and services grow in size and number, we continue to await the industrial scale applications that will eventually result, both in FS and elsewhere.
Overview by Steve Murphy, Director, Commercial and Enterprise Advisory Service at Mercator Advisory Group