How to Explain Blockchain in a Simple Way

When people think of blockchain, many automatically think of cryptocurrency and more specifically, Bitcoin. However, many technology insiders agree that blockchain is the technology of the future, as crucial as artificial intelligence. Governments, banks, angel investors and others are already testing blockchain for use in their organizations.

According to a  2018 survey, 65% of large businesses (those with 10,000 or more staff) are “considering or actively engaged” in blockchain usage, which is up 11% from 2017. 25% of businesses are already working on test-runs with blockchain technology.

Let’s pull back the curtain and take a closer look at this phenomenon. Ready?

Uses of Blockchain

Banking

Banks around the world are looking to update their technology and use blockchain to do it. There are several areas of banking that are out-of-date and in need of a technological overhaul. Areas like clearing and home loans, payments, and syndicated loans are ripe for this change.

Banks in Australia are getting ready to implement blockchain to increase the efficiency and lower the cost of their clearinghouse system. Meanwhile, commercial banks are trying to get in on this efficient payment method by instituting a digital coin. No one in the banking world wants to get left behind.

Trade Transactions

Surprisingly, trade is one area that is still very old-fashioned. Much of that work is still done on paper through fax or personal messenger. This extremely inefficient method is ready for technological upheaval and is a prime candidate for blockchain technology because so many parties need to have access to the same information. But, this kind of change also requires for all the parties to cooperate and to operate on the same system.

Cryptocurrency

Of course, the most common use of blockchain technology is cryptocurrency. This fully digital currency allows its users to send and receive money, quickly, discreetly, and with little to no transaction fees. This form of currency is growing in popularity and is now being accepted at travel websites, among others.

How about Investing in Blockchain?

Initial Coin Offerings (ICO)

If you are ready to get started with your own cryptocurrency, app, or service, how can you raise the needed funds? An Initial Coin Offering, much like a traditional business uses an Initial Public Offering, can get you the required capital. You provide your investors with your currency in exchange for start-up money. In fact, Blockchain companies raised more than $240 million in venture capital in only the first six months of 2017.

Security Token Offerings (STO)

Security Token Offerings act much like regular securities, except that the transaction occurs on a blockchain, instead of through traditional channels. The advantages of a security token offering over traditional security are that the means are fast, inexpensive and allow for more fluid global trading.

You’re ready to get started with your offering, but, how do you disseminate the information to your investors need and keep them up-to-date on how their investment is doing?

How to explain Blockchain? Use Webinars!

Just like cryptocurrency, webinars can be used all over the world with only a computer and an internet connection. Using webinars is an easy way to explain your company’s offering and gather potential investors to ask questions.

Not only are you able to gather investors from all over the world to describe your officer, but you can also use the webinar features to make the information accessible to them.

Here’s how:

Prepare and Invite

Not everyone is ready for this level of investment. But, you will also find that there are curious people who you can win over with a clear explanation of what blockchain technology is, what it can do and how you plan to make it work for them.

How do you find the right people for your ICO?

It’s simple, start with the people you know. Chances are, if this is your wheelhouse, you have a large community of like-minded financial professionals. Start with providing them an “insiders look” at your ICO. These folks will then have access to more people who will be interested in what you have to offer: clients, other financial professionals, and even family and friends.

But, to reach any of those people, you have to have a clear message and a clear way to present it.

Present

Using webinars to provide a presentation has a couple of advantages. First, you don’t have to have everyone there in person, which means you can reach a wider audience. Second, there are several interactive features available that allow you to explain the complicated technology easily.

The Presentation Feature lets you provide your audience with visuals, documents, facts and figures, projections and so much more. Use a modified version of your in-person capability pitch to draw people in.

The Whiteboard feature gives you interactive tools that you can use to draw diagrams and share calculations. These features help you take a complex idea like blockchain and break it down by providing visuals and drawing diagrams.

Live Q&A sessions help you calm your potential investors’ fears by answering their questions and allaying their fears. When they have access to you live, they feel more comfortable with the whole process and are more likely to invest in your technology.

You can run polls & surveys before, during and after your webinar to you’re your fingers on the pulse of the meeting. You can find out who your audience is, how much they already know, and what additional information they need to make the investment.

Follow-Up

After your webinar, you can provide tailored follow-up webinars based on your audiences’ needs. You can even offer several webinars. The first one can be for people who are ready to invest. You can walk them through the process of investing with you, what they can expect next, and how you will be updating them on their investment.

You can provide another webinar for those who are interested, but not ready to make a commitment. Based on the information you received from your polls and surveys, you can find out what exactly they are concerned about and address those in a follow-up webinar (or several).

Finally, for the people who are not ready now, but might be interested in the future, you can do a follow-up informational webinar after six months to see if you can turn some of those warm contacts into investors.

Continuing Contact

Once you have a set group of investors, webinars are a great way to keep them up-to-date on their investment. You might consider holding quarterly investment meetings to provide information about where you are and what else you still need to make your dream a reality.

What are the Benefits of Webinars?

Build relationships

An investment relationship is a trust relationship. Those you are asking to invest in your company or purchase your product are entrusting their hard-earned money to you. So, how do you show them that you are trustworthy? Above all, by building a relationship with them. From the invitation to the live Q&A and follow-up webinars, you are creating a trust relationship.

Position Yourself as the Expert

You are a financial expert. You can use webinars to educate your audience and provide information about your offer. By positioning yourself as the expert, when your audience has questions about blockchain technology, how to get in on the ground level of a block-chain start-up or when the best time is to invest, they are going to come to you.

How to Get Started?

Do you still have questions about the best way to use webinars to help you share your expertise and present your offering?

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