Blockchain for enterprises

• Gary Liu, Co-founder & CEO of 500-backed Web3 user data platform Terminal 3, believes that blockchain technology is still at its infancy when it comes to enterprise adoption. “I haven’t seen any killer use case yet,” he said at Korea Blockchain Week.
• He explains that blockchain tech needs a ‘ChatGPT moment’ to scale enterprise adoption: “AI went through four, five or six phases before that moment. It’s a great example of the patience necessary before [an event of that scale happens] in the blockchain consumer enterprise world.”
• So, how can blockchain and traditional brands come together? Gary shared that they have to be convinced that corporate advantages come before consumer scale as companies are focusing on cost savings before revenue opportunities. One advantage Gary shared is that “marketing and targeting becomes significantly faster.”
• A company that has been doing this is Cathay Pacific Group — they have been using blockchain technology since 2018 for mileage marketing campaigns and they also launched a blockchain rewards program for their customers in 2021.
• The advantage? The settlement of mileage points is significantly faster and less manual than other marketing campaigns, which leads to cost savings, Gary explained.
• Read the full story on TechCrunch.