Sixteen years onward from introduction of first blockchain application – Bitcoin, the disruptive technology never ceases to evolve. According to Precedence Research, the global blockchain market is estimated to hit CAGR of 85.7% between 2023 and 2032, with a projected value of $2,334.46 billion in 2032. Thanks to the benefits of efficiency, security, and transparency, blockchain already gained a strong foot in the industry: from IBM hosting its own blockchain platform, to companies like Walmart and Microsoft using blockchain for supply chain and digital asset management. The adoption of blockchain-based applications is not uncommon among governments, too — with digital yuan being a major-scale experiment. However, these developments are only a tip of the iceberg.
Recently, blockchain has opened gates to Web3, the new generation of the internet renowned for its decentralized, trustless, and transparent nature. Deloitte highlights that Web3 brings new financial products — while 46% of existing finance apps are already taking advantage of Web3 technology. For businesses, advantages of blockchain’s efficient operations, security, and visibility are bespoke, and can be integrated through white label crypto exchange and payment solutions.Onez.io offers a helping hand in this area.
Onez.io provides blockchain products for Web3, finance, and digital asset businesses, including white label crypto wallets, exchanges, and payment solutions. Their customizable exchange product aids businesses in tapping into the cryptocurrency market, with user-friendly design and wide digital asset support, while enterprise-grade wallets offer DeFi and Web3 access, meeting high standards of compliance and security. Onez.io’s offerings enable businesses to enhance their reach, generate new revenue, and manage their finances effectively in the blockchain-driven future.
In this exclusive interview, we have the opportunity to delve into the world of blockchain applications and the unique value proposition of Onez.io’s products, as we sit down with their CBDO Thomas Zimmerman to gain insights into the future of blockchain technology and its practical implications for businesses.
1.Why is the adoption of blockchain technology necessary for businesses, both traditional and crypto-focused?Blockchain technology enhances transparency, efficiency, and security, critical for businesses today. It streamlines operations in all sectors and is key to innovation in crypto-focused industries. It reduces fraud risks and boosts data integrity, giving businesses a competitive edge.The technology’s complex cryptographic techniques make data breaches nearly impossible. Its transparent transactions build trust with customers. By eliminating transaction intermediaries, blockchain optimizes business operations, speeding up processes and making them cost-effective. It also enables global transactions, creating an international market. Thus, blockchain technology offers significant benefits to all businesses in the digital economy.
2. How can blockchain be used in different industries, and which industries could significantly benefit from blockchain technology?From its inception, blockchain technology has been utilized not in finance alone but also for the purpose of creating document registries and data storage. Today, blockchain is infiltrating many industries, from art through NFTs to medicine. I anticipate that in the next 2-3 years, we will see an increasing application of this technology in familiar services, such as games and social networks.
3. Can you provide insights into the specific blockchain applications that will be trending in 2024?
Sure, let’s break it down. First and foremost, Web3 is designed to provide users with greater privacy, freedom from censorship, and control over their data. It can easily be applied in social context, where these open-source algorithms can aid in managing and preventing the spread of misinformation. On political frontier, blockchain-based voting can facilitate democratic policy decisions. But I still deem it unlikely that such technologies will challenge major platforms like Facebook or TikTok in the near future.
Next, Web3 is closely linked with the concept of an immersive internet, — metaverse. A lot of Web3 initiatives aim to build online environments that reflect the real world. Web3 and blockchain can be utilized for online identities, creating unique digital items with NFTs, and managing online participatory communities. As the internet grows increasingly immersive in 2024, we can anticipate further developments of Web3 in this direction.
Central Bank Digital Currencies is certainly a trend to stay. Those are digital currencies issued by central banks, but they aren’t fully decentralized and remain under the control of the issuing banks. Testing of China’s digital yuan will continue in 2024, but I also learned that countries like the UK, Bahamas, Nigeria, and Sweden have either initiated or are considering creating CBDC.
Last, by 2024, we expect more gaming companies to embrace Web3. Since there are now clearer policies concerning Web3 technologies, we predict a surge in Web3-enhanced games on platforms like the Apple App Store and Google Play Store, which might as well incorporate stablecoins as an in-app payment option.
4. In comparison to independent initiatives, what are the key benefits that businesses reap from utilizingOnez.io’s products for their blockchain initiatives?AtOnez, we provide businesses the tools to integrate blockchain technology seamlessly. Our solutions are designed to be user-friendly, secure, and compliant with regulatory standards, making the deployment of independent blockchain projects simpler.Moreover, our products are ready to use immediately, accelerating the development process significantly. For instance, a white label crypto wallet can be launched with us in just 1-2 weeks, compared to the roughly 6 months it would take if developed from the ground up. Our products also offer a more cost-effective solution than hiring a team of developers.We offer customizable, scalable solutions, tailored to meet specific business needs. This ensures a smooth and efficient transition to blockchain technology.
5. Could you elaborate on the range of products offered byOnez.io, and how they cater to the diverse needs of enterprises venturing into the Web3 space?Onez offers a comprehensive suite of products, including customizable crypto wallets, blockchain-based payment gateways, and enterprise-grade blockchain solutions. These products are designed to meet the diverse needs of businesses transitioning into the Web3 space, providing a solid foundation for leveraging the advantages of blockchain technology.
Allow me to share a use case involving our crypto wallet product: a premier mining pool was in need of an efficient, secure solution to manage mining rewards. They found existing solutions either overly complex or missing essential features. Recognizing this gap, they collaborated with us to integrate a white-label crypto wallet into their operations. This wallet, with support for a variety of cryptocurrencies and robust security measures, met their needs perfectly.The integration of our crypto wallet brought significant improvements to the mining pool’s reward management process, and namely: efficient reward distribution through automated mechanism, transparent tracking of transactions and increased engagement through user-friendly wallet.
6. How does Onez.io ensure a seamless, secure and compliant transition for businesses entering the decentralized digital landscape?We are committed to providing a smooth, secure and compliant transition for companies in the decentralized space. Our products are intuitive and easy to use, allowing companies to seamlessly incorporate blockchain technology into their existing operations.Our team consists of technical experts is constantly working to improve the security of our platform. We strictly adhere to international standards and regulations, providing a secure environment for businesses to transition into the decentralized digital landscape. In addition, we offer legal support to help companies navigate the complex regulatory landscape of blockchain technology.
7. How can businesses increase profits in niche markets by using sector-specific crypto portfolios, similar to private investing funds, through personalized blockchain solutions from Onez.io?It is noteworthy that in our solutions, we create distinct monetization models tailored to specific niches, like mining pools. For private funds, our products can present various monetization options, such as:
- Staking options for certain cryptocurrencies.
- Crypto loans.
- Premium subscriptions for users.
8. What are the benefits of Onez.io’s blockchain-as-a-service (BaaS) solution for businesses looking to adopt blockchain technology?Blockchain-as-a-service (BaaS) solution provides businesses a flexible and cost-effective way to adopt blockchain technology. It eliminates the need for extensive in-house blockchain expertise, reduces development time, and offers scalability. This service allows businesses to focus on their core operations while leveraging the benefits of blockchain technology.
9. Can you share insights into Onez.io’s roadmap and future plans for further innovation and expansion in the blockchain space?We plan to continue innovating and broaden our footprint in the blockchain sector. Our roadmap involves crafting various niche web3 solutions, improving existing products, and investigating new applications of blockchain technology. We aim to stay at the forefront of industry trends and consistently provide top-tier solutions to our clients.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
Source: https://cryptodaily.co.uk/2024/02/exclusive-interview-with-the-cbdo-of-onezio-empowering-businesses-with-blockchain-solutions-for-the-web3-frontier