Oftentimes, companies — or at least company executives — have difficulties deciding how and whether to implement new technologies in their tech stack.
No matter how convinced you might be that the innovations will enable your company to develop and improve operations, you still can’t help but wonder how much time, resources, and nerves it will take to get things up and running.
Hence, when you invariably come across the question, “Should I move to blockchain?” — the answer is not a simple choice to make.
Managing change can be very challenging when you don’t know what to expect, but there are also shining examples of companies like AIKON who are making the process as easy and painless as possible.
The five most common onboarding issues companies face when adopting a new integration are the following:
- Not enough role clarity — who is responsible for what and how it affects our internal processes
- Time management issues — process timeframe
- Allocating human and technical resources — how much do I need to allocate for developers’ time and equipment for the integration
- Financial requirements — how much it will cost, both cost of goods and overhead
- Unrealistic expectations — will this really bring more value?
These are all roadblocks holding companies back from pursuing to tokenize their assets even though they are starting to realize the potential benefits.
Tokenizing assets refers to the procedure of issuing blockchain tokens (specifically, non-fungible tokens) as digital representations of real-life tradable assets. As non-fungible tokens (NFTs), they differ from other token types — equity, utility, payment tokens — and can be traded on secondary markets.
Among the assets most commonly tokenized are real estate, art, financial assets such as company shares, and participation in investment funds, etc.
A study performed by a Swiss project tokenization platform reveals that the market of security tokens has already boosted from a volume of $65.59 million in 2017 to a total volume of $434.95 million in 2018.
Another study reveals that by 2024, the market for security tokens will most likely exceed that of cryptocurrencies and is expected to reach $1.5 trillion in the European Union (EU).
A report by the World Economic Forum (WEF) suggests that by 2027, 10% of the global GDP will rest on blockchain token technology. Following this methodology, this study projects that the market of tokenized assets will be worth nearly $24 trillion, in financial assets alone, by 2027.
Moving operations to blockchain can be daunting when you don’t know what to expect, or worse, when you have misconceptions.
With the goal of debunking these myths about arduous and disruptive integration problems, we will shed some light on how it’s done at AIKON.
AIKON’s Identity-as-a-Service solution, ORE ID, enables companies to quickly move operations and customers onto the major public blockchains, including Ethereum, Algorand, and EOS, by tokenizing users’ digital identities. This solves one of the core problems companies face when wanting to utilize tokenized assets, which is the onboarding of users to the blockchain so that they can obtain, trade, and interact with tokens and NFTs.
With ORE ID, existing social logins are used for blockchain identity verification to ease the onboarding process for end-users. Our customer’s end-users do not even need to notice the difference, as ORE ID provides a seamless, consumer-friendly experience.
This means that users do not need to understand what blockchain is, how it works and how it affects their usage of the clients’ product or service in order to set up crypto wallets and transact on the blockchain.
With ORE ID, the move to blockchain is done effortlessly in several aspects:
- Easy wallet creation and key management — end-users can access their wallets via existing email address or social login — a one-click solution that requires no additional knowledge and effort from the user and ensures a smooth transition
- Seamless mass migration — with ORE ID it’s easy and quick to create wallets for the entire user base via our API; no need for onboarding and educating the users about the changes — there are no changes as far as they are concerned, it’s all pre-configured and ready to go
- Funding and user fees — ORE ID allows companies to fund the tokens and resources in users’ wallets after they move to blockchain (on users’ behalf) that are required for their accounts to interact with the blockchain.
AIKON is a customer-centric company with humans focused on solving human problems all the way. Our goal is to accelerate mass blockchain adoption as we consider it to be the future.
In an effort to make the whole experience as painless as possible, we ensure our clients are clear about all the necessary steps for integration, AIKON’s project tokenization duties and responsibilities, and vice versa.
The integration of AIKON’s solutions is tailored to your organization’s time frame so there is no rush as you and your colleagues ease into the world of blockchain. We value the time constraints our clients may be facing when integrating new technologies and work at your pace.
You’ll never have to wonder “How to move to blockchain?” with AIKON! We know you need your developers elsewhere and are using your servers for other operations. Our aim is to make your life easier.
We work across traditional and blockchain systems so we can accommodate fiat payments for your integration project until such time as you are ready to give crypto a try.
In the end, AIKON is here to make sure you can tokenize your assets effortlessly and further your business according to the goals you have in front of you. Your expectations will never be higher than our own.
Tell us how we can help you — schedule a call today!
AIKON, a San Francisco-based VC backed startup, was founded in 2017 with the goal of enabling the digital asset economy and empowering users from all over the globe by securing their personal information via blockchain.
AIKON has developed the Open Rights Exchange (ORE) protocols to manage access to digital rights and access, and has been enabling mainstream blockchain adoption with its ORE ID secure identity service. With ORE ID, AIKON aims to foster a new era of secure identities that protects users and their data, powered by the blockchain. Follow us on Twitter or connect with us on Telegram!