Businesses need Business Model Change to Grow & Prosper!

Not just digitalization.

When Jimmy Song, a venture partner at Blockchain Capital, took to the stage at Consensus 2018 (wearing a black cowboy hat), he launched an attack on the blockchain-is-the-answer-to-everything mentality. He said, “When you have a technology in search of a use, you end up with the crap that we see out there in the enterprise today.”

Jimmy was clearly trying to be provocative and burst the bubble of blockchain fanatics, but he has a point. It’s not so much about blockchain per se (although this may be where the worst offences are committed) but about the focus on technology in general.

Every day we are bombarded with articles about the need to digitize or about how [Blockchain/AI/APIs/Cloud/Mobile/IoT] will transform or disrupt such and such an industry.

But we forget that technology in the absence of new business models never changed anything.

That’s why we decided to reinvent the old Commercial Insurance Process by making it 24 x 7 and Globally connected; involving and focusing on the client (not just the standard industry players); and embedding communication and collaboration; providing advanced security and transparency; and streamlining and getting rid of all the unnecessary archaic processes that consume time and people.

And make everything simple, intuitive and easy to use.

And we do use Blockchain where it has maturity and where it makes sense.

Reference:

https://medium.com/@RobinsonBenP/firms-need-business-model-change-not-blockchain-bc8b0b2466bb