How Companies can use blockchain to Unlock Customer Trust Anyone who’s heard anything about Cyptocurrency over the last couple of years could tell you that the emerging industry has been and continues to be, on a wild ride. The topic alone can be divisive; some people are so committed they have already bought a property using Bitcoin while others are still highly skeptical of its potential for everyone to use. Regardless of which camp you belong to, the bottom line is that digital currency is here to stay. And for businesses involved in technology, finance, or eCommerce, the time to surprise and delight your customers is now, it not sooner
We talked to Firdosh Tangri, CEO of fantasy, about why businesses should be taking Blockchain seriously, which companies are experimenting on the cutting edge, and how every organization can design forward-thinking digital experiences for their customers before someone else does
First Tell Us A Little Bit About Fantasy: Fantasy is a digital experience and production agency that has been in business since 1999. We have specialized in designing digital ecosystems, Platforms, and products for more than 20 years. I joined the agency in 2007, two years after one founder, David Martin, moved the company to the US From Sweden. What attracted me to the company was largely based on what I saw in their finished products. Known for innovation and leadership in the digital space, Fantasy was one the only agencies I came across that consistently built their own digital products. Especially for a late-nineties startup, the company had always been way ahead of its time.
How is Cryptocurrency Influencing Change in the Industry?
By now we have multiple generations that grew up with the web as their primary destination for information, community, and commerce. Not only have they come to expect a technology to mature with them, But more often they are dictating its very evolution. Cryptocurrencies are proof of this trend. For example, Most millennials and Gen Zeros no longer see traditional investment strategies, like real estate or retirement funds as an accessible path to long-term wealth. On the other hand, Cryptocurrencies have a relatively low buy-in cost that can lead to explosive growth, appealing to these groups in particular. When you combine accessibility and that idea of decentralizing wealth, you get a recipe that puts Crypto on the table as a tool for social Mobility just like the internet did for entertainment and socialization.
What do you see as the biggest opportunities and challenges with Blockchain: Looking back, every major revolution has been initiated by a leap in technology. But now that technology evolves at such a rapid pace, the next revolution is going to depend on a leap in trust.If the new generation of companies wants to cause the kind of massive disruption that tech giants like Amazon and Google did, they will have to do it by closing the trust gap.
The biggest opportunities for success among Web3 businesses rest in their ability to create transparency between their products or services and their customers. This is especially true when it comes handled public financial data has created an overwhelming sense of mistrust. Blockchain is more secure by design, therefore, its inherently more trustworthy. As a decentralized network, there is not a single, central body that controls or governs it. So, the more companies can take advantage of this transparency, the more likely their customers are to trust them.
The biggest challenges in getting there of course have to do with education and adoption. Organizations on the leading edge of Web3 technology must figure out how to change people’s perception of Crypto; Our task is to take what could be seen as a high-risk investment opportunity and turn it into something that resembles a universal utility. And because everything on a decentralized finance network is publicly viewable, the ability to maintain privacy will be a crucial challenge. We have to tread carefully if we want to truly rebuild trust in fintech .
How Can Designers Anticipate The Use Of Crypto :
Designing for Crypto will become a non-negotiable for any digital products or experiences that rely on eCommerce.Even if a business is not currently exchanging Cryptos, it might not be long before its customers expect the option. By then, it could be too late to retroactively shoehorn a Crypto option into the website or application and this could lead to a poor digital experience. An oversight like that might be enough to transition users to a competitor who was forward thinking enough to include an easy-to-use, frictionless, Crypto option as part of their to help organizations understand Crypto, Designers will make the experience enjoyable, educational, safe, and seamless so the end user does not get immediately intimidated.
This is really the ideal space we are currently exploring at fantasy. We have built a solid foundation in designing human-centered journeys.So how can we take that a step further? How can we use our platform to pave new, more equitable, and engaging paths on the Web3 frontier? what kinds of groundbreaking worlds and experiences can we build in the metaverse that will enable people to interact differently? keep an eye on the fantasy. co to find out more
What Most Excites You Personally About The Future Of Wealth?
I believe Blockchain has the potential to revolutionize how we think about our global economy. Historically, wealth has been managed by centralized governments, banks, and financial institutions. But a rise in data breaches has created a lot of customer distrust and dissatisfaction toward companies in this sector.
Blockchain introduces a new way to manage that trust because it uses a decentralized network and that makes the data much harder to tamper with. In fact, It’s practically impossible to alter. That means there is built-in transparency and security within the Blockchain and across the services it enables, Like Crypto, NFT, AI, etc. its this kind of decentralized market, where people can exchange value between themselves without involving intermediaries, that going to determine not just the future of wealth, but the future in general.