Bitcoin Air: Business Analysis
Cryptocurrencies have very little spending and are only majorly used for speculative trading. A new Bitcoin fork will break the trend and provide real utility for its tokens in order to aid worldscale adoption of cryptocurrency as a payment tool.
SWOT analysis explains in a very clear way how bitcoin Air will succeed in the creation of a utility coin with a genuine value.
An outstanding Product strategy is an important business component of big enterprises; it is even matters more for the running of new start-ups.
Bitcoin Air is different from the block in the sense that it does not plan to clash horns with existing cryptocurrencies; rather, the project will work harmoniously with the existing market projects. Though, its strategic deployment will be quite different from even major cryptocurrencies. Bitcoin Air is on a bright side because the project boasts of a strong and competent team, individuals with many years of experience of the crypto space who have worked on many successful innovative blockchain projects.
Typically, the team of most blockchain projects focus on the key technology — the blockchain itself — and then rely on users to adopt it and utilize it via the deployment of applications. However, it can take quite some time before people develop interest in novel projects. Meanwhile platform with such structure runs empty, carrying only speculative interest.
However, it is important to note that Bitcoin Air can easily differentiate itself in its approach as its clearly different from any existing cryptocurrency; the project is reaching out through community based engagement. This way Bitcoin Air will be able to achieve wider reach merely by organic interest growth and people’s desire to to hold tokens of genuine value.
Naturally, having a deep-rooted work history in the blockchain industry is a powerful advantage which will not only contribute to the development of the project, but also facilitate easy usability and world scale adoption.
Blockchain technology is still in a a developmental phase and there is a long way to go. While the benefits of the technology are clear, a large portion of the world is still slow to adopt it. Thus Projects that are aiming to further increase the adoption of blockchain have a vast ground to conquer.
Bitcoin Air is particularly targeting worldwide cryptocurrency adoption by seeking to eliminate instability and high volatility of cryptocurrency against the dollar that has marred its adoption. The Bitcoin Air team understand that the best way to facilitate mass adoption of cryptocurrency is by creating a token that can be utilised for daily transactions and will hold real long term value. This will encourage a large number of people to want to utilise cryptocurrency.
Even with the huge economic benefits, the cost of adoption and extent of disruption is understood to be a significant risk. The high cost of adoption and disruption is particularly true for businesses that have complex IT. And some of the processes have been designed to comply with existing standards and could require costly redesign in case of a disruption. Some of this back office operations may not be replaced or removed by blockchain technology. Blockchain may have to consider creating a sector-specific for payment transactions.