A cutting edge startup's most difficult job is not technology, product development, or even marketing, but rather penetrating a legacy competitor's customer base. It does not matter that HADE Platform can reduce costs, improve productivity, and significantly increase a financial institution or finance professional's business revenue, not when legacy service provider Bloomberg has decades of reputation behind it.
Unfortunately, the average enterprise customer values reputation and longevity over innovation and gaining a strategic edge over their competition. So what is the solution? Is it time? That's a luxury most startups don't have. No, in many instances, it is blockchain. Here is an example from HadePlatform.com, who is in the first week of its token sale "ICO" with "HADE", an event focused on the integration of blockchain and digital currency to break competitive barriers.
For more information visit www.Hade.io
Thomson Reuters Corp (NYSE:TRI) and Bloomberg have built a duopoly with their respective financial information technology platforms because they are trusted. Their customers trust their information, and their databases. However, with costs of $15,000 to $20,000 each year, not all investors can afford Reuters Eikon or Bloomberg Terminal, and those who feel it is necessary, are willing to pay such a high premium because the information is trusted.
When HADE Technologies first considered the integration of HADE Token, it was blockchain that we felt could break barriers. We have been approached by several institutions and finance professional firms over the last three months. Some we land, but those we don't are the result of one question, "how do we know the information in your database is accurate?"
Unfortunately, there is no way to answer that question. How can you prove that 4.5 million data points are accurate, data that falls in 100,000 categories for more than 4,500 companies? After all, we manually find and enter the information in our database, and then it is checked before published, and quality checked immediately after. Still, that doesn't compete with decades of reputation (ie Bloomberg).
That's where blockchain comes into play. It gives us the opportunity to source the origination of data, to essentially create two databases, one that sources the other, and is easy to access for the purpose of verification. Best of all, the access of that data won't negatively affect the functions, analytics, or visualization capabilities of our core database, because it is on the blockchain. And furthermore, the integration of a new database on the blockchain for sourcing information has the potential to create entirely new models. This is huge for Hade Platform, because we have an answer to that difficult question, one that instils more trust than decades of reputation, and that is proof with blockchain. Therefore, we can successfully penetrate our core $51 billion market opportunity by offering more capabilities and next-generation services at a cheaper cost.
All things considered, not every startup has the same business model as HADE Platform, but still, in the world of startups, you are always trying to prove something. In retrospect, that's what blockchain does.
