Tokoin.io – In the business world, the availability of market overview data could be a game-changer for entrepreneurs, especially sellers (brand companies). The data could be anything related to the market overview, including buyers’ behavior.Continue reading “This is How Blockchain Accelerates the B2B Ecosystem”
Tokoin.io – To support smooth flows in a business model, a proper ecosystem is needed. Related to this, a B2B ecosystem constitutes an order of arrangement to convey the experience of distributing values from one participant to another. Each participant holds a determining role in order to keep the ecosystem fruitful to every business involved.
Iansiti and Levien (2004) compared a business ecosystem to a biological ecosystem and maintained that:
“…a biological ecosystem provides a powerful analogy for understanding a business network. And like business network participants, biological species in ecosystems share their fate with each other. If the ecosystem is healthy, individual species thrive. If the ecosystem is unhealthy, individual species suffer deeply. And as with business ecosystems, reversals in overall ecosystem health can happen very quickly.”(Iansiti & Levien 2004, 8–9)
Analogous to a biological ecosystem, a B2B ecosystem works by involving two-way interactions between all participants in an environment in favor of mutual growth and evolution of populations in the forms of commensalism, competition, and mutualism. The concept of a healthy ecosystem is outlined by the contribution of every main organism involved. The roles of the organisms as the main partakers can be seen as a supply chain from one end to another. Manufacturers as producers in the upstream provide their goods to resellers in the downstream without any destabilizing interruption in pricing and market overview. By excluding sales intermediaries and individual buyers, the supply chain goes directly from upstream to downstream through efficient data distribution and a precise targeting on a methodical platform.
The interaction forms a mutual relationship since the resellers, as business buyers, need the lowest prices possible and manufacturers desire to know the actual market situations prior to product innovation and development. The mutual needs can be fulfilled in a well-ordered manner of data provision. The adaptation of blockchain technology in a B2B ecosystem is seen as an applicable solution to disrupt the traditional supply chain which typically includes layers of intermediaries. Resellers can quote directly to the producers to get the lowest prices, simultaneously generating real-time and actual data pertaining to the market overview producers.
Implementing the above system on a marketplace, Tokoin provides the shortest way for business participants to connect without layers of intermediaries. In order to build an ecosystem consisting of valuable assets, Tokoin is developing a blockchain-powered platform to equip every participant with security in every transaction and a more trustworthy relationship, resulting in a valuable partnership between partakers.
The blockchain platform enables data exchange in a decentralized manner. There is no central entity collecting data. Instead, data will be securely and immutably stored, eliminating any kind of data abuse and manipulation, as well as creating an ecosystem of organisms that are linked together in a mutual way. Concurrently, new generations of business customers are conditioned to emerge on the platform.
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