Digital transformation is the phrase that you’ll hear everywhere in present world. It has become an essential part of every business owner’s agenda. Of course, it is beneficial, which is why everyone is looking forward to it.

But digital transformation, as you may know, represents a gamut of technologies aimed at digitizing a business ecosystem to make it more efficient and tech-driven. And, since it continuously evolves, it will always have some technology emerge. But which technologies are the pick of all and slated to be the next big thing in digital transformation? Let’s look at a few, which we think will make it big.

5G

The fifth generation of cellular data networks is one of the most exciting aspects of the digital transformation revolution. While 3G and 4G had their share of excitement, 5G is slightly different! It isn’t only about increased internet speed but many other factors that make 5G the next big thing in digital transformation.

5G is projected to benefit businesses in many ways. It is fundamentally about speed, availability, and connectivity, where 5G stands out among its predecessors. Here’s why 5G is the buzzword of the digital cosmos.

  • Eight to ten times faster internet
  • Ultra-high speed data transfers
  • Quicker and safer Wi-Fi
  • Low latency communications
  • Enhanced rural connectivity
  • Network slicing – one network sliced in multiple!
  • Increased remote working speed
  • More reliable network
  • Increased connection capacity

Artificial Intelligence

Is AI the next big thing in digital transformation? We’d say it would always be, as it will keep progressing by the day. AI doesn’t need an introduction. It is all-pervasive, and most industries have become veteran users of the technology. Nevertheless, some, on the other hand, are relatively new and evolving.

AI is beneficial for every industry that uses it appropriately. For instance, in the manufacturing industry, AI-based automation can not only help expedite the manufacturing pace but help companies respond to changing market needs.

Additionally, allied technologies like predictive analytics can help companies prepare for potential supply chain disruption, market changes, etc., and devise strategies for them to thrive amidst adversities. Similarly, it can help them identify opportunities and tap them to outperform their competitors.

Another sector where AI can bring about a revolution in healthcare. It can help doctors diagnose diseases more quickly and accurately, leverage virtual nursing assistants to monitor patients, and use big data analysis to provide a more personalized patient experience.

Likewise, AI can revolutionize agriculture as well. The use of AI can help farmers analyze soil conditions, detect plant diseases, monitor livestock health, target weeds through AI sensors, etc. The result is improved harvest and increased agricultural accuracy, termed precision agriculture.

  • Semiconductors

Semiconductors are another part of the expanding digital revolution. Per reports, the global semiconductor industry generated sales worth USD 50-52 billion in May 2022. These figures signified a staggering 17-19 percent YoY increase.

Thus, the semiconductor industry is turning hotter by the day. Semiconductors are everywhere. Yes. Almost everywhere! You buy an EV – it has a semiconductor. Similarly, semiconductors find critical applications across laptops, mobile phones, LED, embedded systems, consumer goods, etc.

They significantly drive the gadget’s efficiency, which is why it wouldn’t be wrong to say that semiconductors are at the nucleus of electronic products. Of course, they are evolving and will continue to do so. Hence, they are slated to grow stronger, more capable, and much more helpful than they are today.

  • Smart Lifestyle

Smart living is yet another exciting thing that could take the world by its storm. A potential example of it could be your home preparing juice for you when you are back from a morning walk! We wouldn’t know if it will happen this year or even in a year or two. But since we’ve already come such a long way, expecting this level of technological progress doesn’t seem illogical or a tall tale, for that matter.

Qodequay Technologies supports companies in their journey towards digital transformation. Our design thinking approach involves designing and devising custom software solutions that help companies steadily achieve digital transformation. It is while ensuring the technologies they use help them accomplish their business goals. We identify and choose the right set of technologies to help you achieve a higher goal and do what it takes to compete amidst competition.

Click here to know more about how we can help you achieve digital transformation seamlessly and optimally.

Digital transformation refers to integrating various digital technologies across multiple areas of business. It is part of the company’s strategy to help augment productivity, increase agility, and leverage digitization to enhance client service and experience.

The fast evolving industries across the globe has pushed business into ditial enterprise irrespective of their size.  Many consider digital transformation a disruption and have reservations against digitization. So, the process meets many challenges that impede the company’s progress. Some notions are valid. But they have solutions.

Digital transformation challenges aren’t merely technical. They also have to do much with resources, culture, and acceptance, people change management etc. So, let’s look at five digital transformation challenges and the best solutions to resolve them.

5 Digital Transformation Challenges and Solutions

Digital transformation demands people’s participation above technology, to achieve the company’s objectives. Hence, many decision-makers have to address a broader horizon of challenges before they embark or while they are on their way to achieving digital transformation. Here’s more to them.

  1. Employee Unacceptance

Did you know employee resistance and unacceptance cause over 65 percent of digital transformations to fail? Yes. The company may invest resources and chalk out an efficient digital transformation strategy. But the investment would go in vain if people on the ground were reluctant to accept the change.

So, how do you deal with such a challenge? The key is to have a solid change management strategy in place. Companies with one are five to six times more likely to succeed in their digital transformation endeavors!

A change management strategy involves project planning by identifying the root causes of an issue, in this case, unacceptance. It focuses on building relationships with all employees and stakeholders. Constant communication is the key.

Accordingly, one vital aspect could be communicating the practical benefits of digital transformation (for instance, before and after comparisons) early and constantly to drive the change. But planning and implementing the strategy could be complex. Thus, partnering with a digital transformation partner can help.

  1. Dearth of Resources

Companies often do not have adequate resources to achieve digital transformation. The number is indeed significant. Over 75 percent of companies consider a lack of digital skills a roadblock to digital transformation. Again, the strategies are bound fail if do not have the resources to achieve them.

Delays in realizing the inadequacy of resources can render the investments practically useless. In other words, can lead to wasting money. Thus, it is necessary to identify what’s one have and don’t  early in the journey.

The key is planning resources and onboarding talent and technology capable of devising innovations and driving them. Some key steps could include assessing existing resources, considering outsourcing to fill the talent or resource voids, and using efficient tools like CRM, ERP, etc., for insights and better resource visibility.

  1. Sophisticated Technology

Technology is useful but, simultaneously, a complex thing to deal with. Deploying new software and integrating it efficiently with the existing one could pose a significant challenge for companies. Inefficiencies could make investments go for a toss. Disconnected systems could affect and disrupt workflows, thus stopping the company from achieving the desired goals.

But the good news is one need not have to live with these concerns. Partnering with digital transformation companies can help assess various aspects of a digital software product or solution before onboard it. These companies can help test the viability in the organization’s context and business environment. Thus, it can help make an informed choice concerning a solution and deploy the right thing.

  1. Cybersecurity

Security concerns aren’t invalid, and companies aren’t paranoid about it. Dependence on technologies across every element of the system refers to a higher degree and number of cybersecurity concerns to deal with.

One of these concerns is digital transformation strategies involving shifting from on-premise to the cloud and bringing all the data to a central repository. Centralization of data offers convenience. But it also attracts bad actors. Having all the data at a centralized location and not requiring to travel across multiple ones simplifies the attack for cyber attackers.

But should that deter you from embracing digital transformation? No. The solution is not to run from these challenges but to tackle them. While no solution is fool-proof, strengthening cybersecurity is an effective solution to keep your IT environment immune from attacks. Consulting a cybersecurity company can help.

  1. No Clarity in Digital Transformation Budgets

Most companies are always tight on budgets. Very few would have a lavish budget for digital transformation! But practically, what matters is whether you invest adequately and wisely – neither more nor less.

Often, this is where most companies fail. Think they’ve invested enough and will invest more only if they see results. But instead, they must consult an expert to know the investment needed and how to use it prudently.

Digital transformation does not deliver results overnight. It takes time to realize the results. Hence, the key is to have a long-term and considerable budget.

Partnering with a digital transformation consultant can help you plan a flexible budget and cover everything from technology to training. The consultant can also help create a roadmap for budgeting and achieving a higher RoI.

Achieve Digital Transformation Successfully with Qodequay Technologies

Qodequay Technologies leverage the design thinking approach to help companies achieve digital transformation seamlessly and successfully. We empathize with the client’s needs and gain an in-depth understanding to identify what’s right and develop custom digital transformation solutions.

We believe successful digital transformation results from the collective effort across all aspects, from technology to budget and from people to culture. Thus, our consultants help you cover and excel across all these areas to achieve digital transformation steadily and in an organized way. Click here to learn more about how we can help you simplify your way to digital transformation.

Why choose Shopify for your eCommerce business?

Had eCommerce remained as straightforward as around a decade ago, we wouldn’t have been writing this blog. But like every other element of the digital world, technology has helped eCommerce grow, prosper and evolve. In fact, in the last couple of years, we’ve seen eCommerce progress to becoming an integral part of everyone’s lives. And that makes it imperative for us to talk about one of the various platforms that have fueled its growth so far and helped eCommerce players make it big.

Shopify, the name is! Founded in 2006, Shopify has steadily evolved to become one of the most famous and widely used eCommerce platforms. It powered over 2,200 million active websites (and still counting) in 2021, many of which belong to global players.

Shopify allows eCommerce players to set up their websites easily and start selling online. It enables them to set product prices, taxes, payment methods, and customize online stores. Thus, the eCommerce sector looks at it as a comprehensive eCommerce platform.

But what is it that makes Shopify an as popular eCommerce platform? In other words, why is Shopify leading in eCommerce, or why is Shopify one of the best eCommerce platforms. Let’s answer these questions and look at some of the most significant benefits of Shopify for eCommerce websites.

6 Reasons Shopify is the Best for eCommerce

Shopify is successful because of its features and the seamless experience it offers. Shopify offers a range of impressive features that give its users an edge over others. Let’s look at six of them.

1. Ease of Use

Running an eCommerce business, especially considering the competition, is a daunting task. In situations like these, if you do not have supportive technologies and platforms that simplify things for you, you would spend your energy managing technical hassles and have very little time to focus on your core business needs. But Shopify eliminates these challenges with its exceptional ease of use. How?

Users can create an eCommerce website without any technical background. You can set up a Shopify account and create your online store with the toolset available. Once you complete all the store settings, you can let the website go live and begin selling. Additionally, it offers a comprehensive dashboard that enables you to manage your store and your data efficiently.

Nevertheless, partnering with a Shopify website development company can help you better optimize the advantages and handle the crucial website updating and maintenance, allowing you to engage with your users better and focus on your core business.

2. Myriad Theme Options

Shopify offers a broad spectrum of ready-to-use themes to its users. To suit your needs, you can browse several themes featuring diverse designs, styles, functionalities, etc. You may choose between free and paid options based on your budget. Additionally, the categorization of themes makes choosing the best-suiting theme even quicker and more straightforward.

3 .Seamless Payment Gateway Integration

The absence of commonly used payment gateways is one of the most significant reasons many carts get abandoned. Users do not trust websites that do not feature the payment gateway they mostly use.

Shopify helps minimize these possibilities by enabling users to integrate multiple payment gateways seamlessly. Some options include Amazon Pay, Paypal, Apple Pay, etc., and many other third-party ones. Alongside, you can integrate buy now and pay later apps like Affirm, Afterpay, and Klarna through Shopify. These apps further enhance and simplify the online shopping experience.

It wouldn’t be overrated to say that Shopify contributes to your efforts in retaining carts and, therefore, users. No wonder Shopify is one of the global leaders in eCommerce website development.

4 .Customer Data Management

This one should intrigue C-Suite executives and the decision-makers of the company. In an age where data is valuable as oil, you cannot afford to let customer data go into a black hole without looking at it. Customer data, which you can further convert into priceless business insights, can help you analyze, make informed decisions and plan your strategies. Shopify enables you to do this effectively.

Shopify offers analytical capabilities that enable you to track key metrics, which allow you to deep dive and analyze your business performance, understand customer behavior, and use it as a tool to make purely information-based and very well derived decisions.

5 Range of Enriching Applications

The rising competition in the eCommerce sector demands applications that enhance every aspect from sales and marketing to customer service, content, and SEO. Some of the applications Shopify supports and allows you to leverage for your eCommerce business include,

  • Sumo, TrustPulse, Omnisend, etc. (marketing and promotion)
  • Recharge, Catalog Maker, AVADA Discount Code Generator (sales)
  • SEO Suite – SEO Image Optimize (SEO)
  • Pocket and Social Photos (content)
  • AVADA PDF Invoice Spocket and Printful (administration)
  • Facebook Live Chat, Yotpo, HelpCenter (customer service)

6.Other Advantages

A range of other Shopify advantages for eCommerce companies makes it even more evident why many eCommerce companies are increasingly adopting the use of the platform. Let’s look at some.

  • Efficient integration with Google Ads
  • Blog support to connect better with prospects
  • Customized email campaigns
  • Customizable keywords
  • Adding coupons and discount codes
  • Free Shopify POS and easy integration with other POSs like Vend, Clover, Square, etc.
  • Automated check-out request email to customers who’ve abandoned their carts
  • Shipping carrier integrations with companies like UPS, FedEx, USPS, etc.

Create an Incredible eCommerce Website on Shopify with Qodequay Technologies

Qodequay Technologies is a Shopify partner since 2017 and ranks on Shopify partner site. We bring to your table several years of cumulative eCommerce website development experience. Our strategists and developers use their strategic, market, and user intelligence to create websites that resonate with users, increase engagement, reduce cart abandonments, enhance UX, and contribute to an immersive online shopping experience.

To know more, write to Qodequay at Contact@qodequay.com

Tech Revolution 2022: Benefits of AR/VR in Manufacturing
Lately, the otherwise conventionally run manufacturing industry has undergone a paradigm shift on the technology front. Customers and consumers have become more demanding than ever. As a result, albeit gradually, manufacturers worldwide have begun realizing the significance of integrating intelligent technologies.

AR VR in the Manufacturing Industry

Precisely, that has made the manufacturing industry ticking. The pressing need to stay ahead and outperform competitors encourages manufacturers to embrace new technologies. As a result, manufacturers have become more technology-driven, value-oriented, and competent.

The entry of AR/VR forms a vital part of the new tech revolution that the manufacturing industry continues to witness. It has added new dimensions to the manufacturing sector across various facets, including quality, troubleshooting, cost-efficiency, etc. Accordingly, let’s look at five benefits of AR/VR in manufacturing.

5 Benefits of AR/VR in Manufacturing

1. Simplified Assembly Process Training

Manufacturing constitutes an intricate web of processes, workflows, and mechanisms that require the highest levels of attention and accuracy to ensure compliance with the standard operating procedure. Lack of effective training may cause employees to err with the assembly workflow. It may lead to a potentially higher degree of damage, thereby increasing cost implications, let alone the increased risk on the manufacturer’s part.
However, AR can help enhance the effectiveness of training. It can help manufacturers train new employees on the assembly workflow. The use of AR-powered training resources (such as videos) can help them visualize and understand the process performed across every step on the shop-floor, without even visiting the floor or giving rise to safety risks. Trainees can watch and learn every step performed through the AR video.

2. Accelerated Prototyping and Design

Innovations are at the nucleus of the modern manufacturing realm. However, what matters as much as innovation is how quickly you innovate and how effectively you explain it to the prospect.
For instance, VR reduces the time between the initial design and physical modeling from weeks to a few days. The use of AR/VR either reduces or completely eliminates the need to create physical prototypes. Prospects would have a better and deeper look at the virtual prototype than the actual one, thus enabling them to have a better understanding of the prototype. Getting a better idea of the actual product is pretty evident thereafter

3. Simplified Maintenance
Manufacturing companies can use AR to manage, maintain and repair equipment involved in the production process. Conventionally, an employee would use an age-old manual to identify issues and then take the necessary actions. However, leveraging AR would eliminate the need to use traditional manuals. Wearing an AR wearable device can cut down the time incurred in researching the issue, identifying it, and then working on it. It would help the technician visualize the problem better and then fix it accordingly.

4. Better Quality Assurance

In manufacturing, quality assurance is as significant as the manufacturing process itself. However, current QA demands a meticulous human vision to identify problems and report them. But AR can help here significantly. It can help project digital overlays of products and identify errors and defects. The quality assurance team wouldn’t have to deep dive into the product details themselves. AR would make it pretty easier, quicker, and more effective to identify even the smallest of issues in a more accelerated manner.

For example, a defect in a machine customized to the customer’s requirements would require an eye for detail. But AR would simplify identifying minor yet critical gaps almost instantly for the technician to work on it.

5. Enhanced Technical Support

Support is another significant aspect of the manufacturing industry. Customers expect prompt and effective support (preferably onsite!) from their manufacturing partners to keep their equipment up and running.

But rendering onsite support can take time and incur travel costs. Sometimes, it is almost impossible for outstation manufacturers to provide support as instantly as the customer would ideally expect.

Here, AR plays a significant role with the help of telecommuting. Technical experts and product specialists can work together and remotely review the actual problem. They can virtually guide the engineers to help them fix the problem appropriately, without traveling to the site and practically, without any delays.

Custom AR/VR Solutions for the Manufacturing Industry with Qodequay Technologies

While AR/VR proves a competent and convenient solution for the manufacturing industry. The journey to integrating AR/VR becomes even more comfortable when you have Qodequay with you. Qodequay Technologies provides customized and more meaningful AR/VR solutions for manufacturing companies.

Qodequay’s AR/VR solutions are carefully crafted after a comprehensive review of the existing manufacturing process and the need to enhance the functioning of the various verticals of the company. The solutions focus on providing better visual insights into a particular concern and help manufacturing players increase competence.

To know more about Qodequay’s AR/VR solutions, write to Contact@qodequay.com.

21st-century education isn’t only about making students learn concepts, preparing them for examination and life’s race. It has transformed into a competitive realm that demands educators to be competent across every aspect such as administration and strategy, apart from the academic one.

According to an India Today article, India’s CBSE (Central Board of Secondary Education) has already started using blockchain for various purposes within the education ecosystem. Many might want to read it again. Blockchain in education? But that’s right. So far, you must have heard about blockchain making its way into the BFSI sector. However, what application could blockchain have in education? Where has it already found its place in the highly digitized (post-pandemic) and competitive education sector? Come, let’s find it out.

How Blockchain is affecting the Field of Education | What is Blockchain Technology in Education?

Apart from the competition, one of the most vital reasons for the rapid integration of technology is students and parents becoming more demanding. A significant part of the control has now shifted to the other side of the table, unlike yesteryears, wherein it remained with the educational institution. Here are some ways through which blockchain can make a potential difference in the rapidly evolving education sector

1. Student Record Management

Managing student records manually can prove quite a laborious task for the administrator of a large university, school, or college. Many have digitized and automated this task to quite an extent. However, the introduction of blockchain can further enhance it. It can help them in various areas and make it a blissful affair. How?
Blockchain can help seamlessly transfer records of students, who are on exchange programs or those leaving the institution midway. It can allow straightforward access to the records of various students and enable a quicker and better exchange of content across institutions. Additionally, when the institution stores information on a blockchain, it will receive a document confirmation in a matter of a few clicks.

2. Document Storage

The education sector has already stepped out of the conventional, manual recording of student records in files and folders. It has digitized it to a significant extent and therefore you cannot see large heaps of files anymore on the staff room shelves. However, now, it is time for institutions to upgrade and become more competent.
How do institutions do it? Many may say, they’ve already digitized the document storage aspect? What next? The fact is, in the case of many institutions, the capacity of the current digital storage isn’t adequate. On the other hand, scalability is also a crucial concern.
Blockchain proves an effective way of dealing with these issues. It is a large and open-access online ledger, the integration of which, with cloud, can enhance the process of document storage and expand the storage capacity to accommodate an even higher number of records, thus making document storage and management even simpler for educational institutions.

3. Prevention of Fraud in Education

Unfortunately, many people fake their educational qualifications and academic certificates. However, the education sector can avoid this to a considerable extent with the help of blockchain.
Blockchain provides a consistent and transparent ledger for all educational qualifications. Once updated, fidgeting with the information or hacking it (even for professional hackers) is highly challenging. Across various stages, you will require the administrator’s consent to manipulate information. Furthermore, universities can build a ledger with a custom blockchain protocol, which can help issue student certificates and transcripts.

4. Copyright Protection

Plagiarism is another prominent concern prevalent across the global education ecosystem. However, blockchain technology can help content developers curb the distribution of copyright educational content on the internet. It will help ensure the storage of information in a secure chain featuring advanced encryption and multi-factor authentication to access it. That will enable only authorized people to access the information and allow only the owners to provide others access to copyright content.

5. Course Evaluation

Course evaluation is another area where blockchain can help the education sector. Educational institutions can use blockchain for smart contracts, which can help an instructor create a smart contract that outlines the list of tasks required to complete a particular course. Whenever a student completes a task, a smart contract will evaluate and verify it. Once it is confirmed that the student has completed all the tasks, the educational institution will provide a certificate or credits for it.
Similarly, the use of smart contracts on the blockchain can enable instructors to create examination papers, along with the scoring pattern and the answer key. Students can attend the examination online and blockchain will grade each response. It can help enhance the response evaluation process and relieve teachers from the daunting task of checking answers, thus enabling them more time to focus on enhancing competence.
All said and done, educational institutions need efficient blockchain developers to optimize the benefits of blockchain across each of the above applications. Partner with Qodequay, one of the leading blockchain development companies for customized blockchain solutions. Qodequay’s extensive experience and evolved expertise across the blockchain sector enable educational institutions to enhance competence, increase productivity and strengthen the overall educational system.

To know more, write to contact@qodequay.com.

Blockchain – the New Wave in Fintech and Retail Industry

Blockchain is revolutionizing FinTech and Retail. While this may seem a general statement, let’s quickly look at some statistics that prove the rate at which blockchain is promulgating across both these realms.

Let’s start with FinTech. According to Statista.com, in 2018, blockchain’s use in banking was USD 0.28 billion. But with an almost 100 percent rise every year, the technology’s use escalated to USD 1.46 billion. This year, it

(Sourcehttps://www.statista.com/statistics/1229290/blockchain-in-banking-and-financial-services-market-size/)

Blockchain’s use in retail also is abundantly promising as well. According to stats published on Allied Market Research, blockchain had a modest value of USD 83 million in 2018. However, the technology is expected to be valued at USD 11.18 billion by 2026, with a CAGR of 84.6 percent from 2019 to 2026!

(Sourcehttps://www.alliedmarketresearch.com/blockchain-in-retail-market#:~:text=Blockchain%20in%20Retail%20Market%20Statistics%20%2D%202026,84.6%25%20from%202019%20to %202026.&text=These%20factors%20drive%20the%20market%20growth%20for%20blockchain%20in%20retail%20industry.)

Now, that’s interesting, convincing and promising, isn’t it? But for a business owner, irrespective of whether from banking or retail, at the individual level, what will matter more is how will blockchain benefit his business.

And that’s obvious, as every technology should carry some strategic and commercial benefit with it to make it a name every business relates with. So, here’s a blog, which is an excerpt of an interview with one of the higher officials of Qodequay Technologies. It highlights how blockchain will benefit FinTech and retail in the future.

Interviewer: Why should FinTech players adopt blockchain?

The first benefit is that blockchain helps reduce operational costs for a bank. It does so by improving capital optimization. It eliminates the need for intermediaries such as custodian banks (that facilitate bank to bank money transfer) or clearers. Of course, these intermediaries come at a cost borne by the bank. But blockchain makes peer-to-peer transactions possible. So, while a bank will have to invest in blockchain, the investment cost is significantly less compared to the fee per transaction that banks pay intermediaries.

Additionally, blockchain reduces counterparty risks. It settles transactions instantly and removes a considerable part of the risk that the counterparty cannot meet its obligations. This risk is an expense for the bank. Blockchain eliminates it!

Another aspect is that of smart contracts that enhance contractual term performance. Smart contracts are executed automatically when some pre-conditions have been met. For banks, this proves beneficial in the case of complex financial transactions. Settlement happens automatically through smart contracts. It eliminates the chances of deviations, the possibility of which may be high when a settlement is done manually.

Now, let’s look at the benefits from the customer’s perspective. The first advantage is that of instant settlements. Currently, settlements can take up to a week. However, blockchain facilitates user-oriented settlements which save time and money for customers and banks.

So, on the one hand, where customers enjoy quick settlements, on the other, banks save money by eradicating the need for middle office or back-office staff, the employment cost of which is paid by banks.

Lastly, I’ll say, blockchain reduces manual errors and improves reconciliation. That’s because every data recorded in a block is unchangeable. Additionally, you can record data in real time and have an audit trail for every transaction recorded on the block. So, everything remains transparent for regulators to review, should they have access to blockchain.

Interview: How will Retail players benefit from blockchain?

Blockchain addresses one of the most prominent pain areas of the retail sectors and that’s transaction settlement. Retail payment providers take quite a long time to settle transactions and charge a significant amount of money for it to the retailers. But blockchain payment applications expedite the transaction settlement process at a much lesser fee with better security compared to credit cards.

Another area of benefit is payments made in cryptocurrency that eliminate the worries of currency fluctuations and therefore the losses that either of the parties or both incur due to it. When both the parties use cryptocurrency as the form of payment, no currency exchange takes place and therefore, there’s no loss as such as that they bear. As a matter of fact, this can be applied to supplier payment and those of consumers.

Although indirect, blockchain offers benefits to consumers as well. It refers to the use of blockchain in the retail supply chain. Blockchain enhances supply chain visibility and transparency. It allows for the authenticity of raw materials like proof of Fair Trade and Organic Goods.

Further, it also enables people to know the source’s authenticity and helps combat counterfeit goods. So, consumers would rarely get counterfeit goods in their hands. Although the intention would always be to completely eliminate the entry of counterfeited goods in the supply chain.

In a nutshell, whether it is consumer payments, supplier payments, or international payments, blockchain paves the way for quicker processing, a higher degree of security and considerable cost-savings. And, that’s precisely, where blockchain is more than just a wave. It is the future!

Interviewer: I have heard about the concept of NFT? How is it beneficial?

NFT stands for Non-Fungible Token. Fungible is something that cannot be replaced or replicated by anything similar. Likewise, NFTs are cryptographic assets on a blockchain with unique identification codes and metadata that differentiate them from one another. However, unlike cryptocurrencies, you cannot trade or exchange them at equivalency. That’s the basic difference between cryptocurrency and NFTs. Cryptocurrencies are identical to each other and can be used for commercial transactions. But you cannot do it with NFTs.

Now, speaking of NFT’s benefits, perhaps, the most apparent benefit is increased market efficiency. NFTs refer to converting physical assets into digital ones. That helps streamline processes and eliminate intermediaries.

But the advantages of NFTs transcend business. They also prove useful in the case of identity management. For instance, currently, every individual traveling abroad has to produce his/ her passport at every entry and exit point. Converting every passport into NFTs can help streamline entry and exit processes for every territory.

Interviewer: Is blockchain sustainable for FinTech and retail?

Of course, it is! At least with the benefits it brings to the banker and retailer’s table, I see it as a sustainable form of technology. The most important attributes of blockchain that make it sustainable include its security, immutability, ability to process transactions quickly, ensure faster settlements and save a lot of administrative, backend and intermediary-related costs. I wouldn’t be surprised if blockchain becomes the fundamental norm everywhere in the years to come.

Interviewer: Isn’t blockchain a disruption? If that’s the case, why should business owners adopt it?

Every technology is a disruption. Computers were a disruption to typewriters. But with a few years of initial glitches, everything fell into place. Similarly, blockchain is a disruption. But I’d say it is a positive one. It may render some people jobless, especially the intermediaries. However, every technology has some or the other impact on the world. So, how can blockchain be an exception to it? But it is about aligning yourself with emerging technologies and becoming a part of it, rather than staying aloof.

For FinTech and retail, blockchain is a disruption to the conventional workflows. Hence, the adoption of blockchain may not necessarily be a cakewalk for FinTech players. But many have done it, succeeded and benefitted from the blockchain revolution. Here, the decision-makers will have to sell blockchain’s benefits to their teams to encourage adoption, training and implementation. After all, money saved is money earned. And,

if blockchain does that in the long run, I’d rather ask, why should business owners abstain from adopting it?

Adopt Blockchain with Qodequay Technologies!

Moving to the blockchain requires you an expert guide to handhold you throughout the process. Qodequay Technologies is precisely the group of professionals that will simplify your journey to the blockchain. The company customizes its blockchain solutions to help you blissfully and effectively upgrade your existing workflows to the blockchain and optimize its benefits. To know more, write to contact@qodequay.com.

The growing popularity of design thinking can be attributed to the fact that it helps companies determine whether their products and services meet the needs of their customers.

Qodequay has helped many organizations unlock the true potential of their teams by leveraging our design thinking model.

By gaining a deep understanding of who you are targeting and how to reach them, you will be able to create better products that satisfy an unmet need while delivering value to your customers.

Design thinking, which is the creation of solutions for the benefit of humans, is the most relevant methodology for creating digital products today. This is truer than ever, as the number of devices multiplying on a constant basis and the interchangeability of hardware and software become more prevalent. As trends are no longer restricted to fashion or electronics but spread over every field (B2B, B2C, etc.), the business has become increasingly focused on fulfilling human needs. These needs extend themselves beyond the traditional realms of work and leisure time to our social interactions and family life –both at home and abroad.

  • Qodequay follows the design thinking methodology to solve complex IT and business problems
  • We do this by prioritizing human needs and tackling the issues from a human angle
  • Using brainstorming and hands-on prototyping, we find solutions

The key elements that make up great design thinking are empathy, observation, ideation, prototyping, testing, and iteration. In addition, it includes four phases that take a holistic and human-centered approach to problem-solving: 1) empathize 2) observe 3) ideate 4) prototype. Bridge: At Qodequay, we follow the design thinking methodology that refers to a solution-based approach to solving problems. It enables us to tackle intricate problems (highlight one if applicable). Furthermore, the technique involves prioritizing human needs and thinking about the issue and its solutions from a human angle. Accordingly, we factor in brainstorming (highlight process highlights), a hands-on approach in prototyping and testing to design solutions that will work for sure!

Design thinking is an important decision making a step in digital transformation

  • Understanding the Problem
  • Defining What the Problem Really Is
  • Taking a People-Centric Approach
  • Gathering Information and Researching Your Target Audience
  • Finding Inspiration for a Solution and Using It in Design Thinking
  • Building a Minimum Viable Product (MVP) to Test Ideas and Get Feedback
  • Iterating Until You Find the Perfect Solution

At Qodequay, we follow the design thinking methodology that refers to a solution-based approach to solving problems. It enables us to tackle intricate problems, relatively unknown or incompletely defined. Furthermore, the technique involves prioritizing human needs and thinking about the issue and its solutions from a human angle. Accordingly, we factor in brainstorming, a hands-on approach in prototyping and testing to design solutions that will work for sure!

Qodequay Technology provides services for the digital transformation of businesses as it follows design thinking methodology in tackling intricate problems.

Contact us today at contact@qodequay.com