#3 Beyond the blockchain bubble with David Beros

In this episode, we caught up with David Beros, Head of Product at DigitalX, a blockchain technology consultancy and development company based in Perth. We discussed the current blockchain scene, where it is heading and how DigitalX uses this technology to improve business process. Company Blockchain technology consultancy and development company Problem Education and capacity building for blockchain technology (what is the technology, where is it valuable, and how it works) and then using design thinking techniques to uncover areas within business that are amenable to blockchain technology Customers Innovation leads and Chief Financial Officers of ASX-listed corporates One big piece of advice Jumping in with both feet to a start-up is a necessity if you’re going to make it work. Having ‘skin in the game’ or something to lose (such as money you’ve personally invested in building something) gives you the grit and determination that’s needed to make your start-up a success. Bullets (1:50) – Speculative bubbles (Tulip Mania) are human nature (6:58) – DigitalX’s approach to blockchain consultancy and design thinking (9:21) – DigitalX’s focus areas: Consulting, development, and funds management (bringing investment exposure in digital assets to institutional investors) (10:15) – A short history of Bitcoin and its use case as a digital form of gold (12:25) – How DigitalX approaches the challenge of helping traditionally conservative corporations adopt breakthrough technology: The focus is on enhancing existing processes and core competencies (e.g., cost removal) rather than radical transformation. Secondly, DigitalX helps customers understand how blockchain technology might affect their business in 5-10 years’ time (14:20) – Applications of blockchain in resources-focused companies: Using a distributed ledger to achieve cooperation with jointly owned ventures (16:05) – How DigitalX builds relationships with customers: Sales in B2B are relationship driven and have long-lead times (as opposed to consumer-focused businesses where you can leverage digital marketing). Ways DigitalX approach this are: Partnering with EY, running workshops to demonstrate product capabilities, positioning as thought leaders through industry conferences, and posting regular blog content (19:00) – The importance of providing value to potential customers to build trust before making a sale (20:25) – DigitalX’s future: Taking proof of concepts to market (21:10) – Kaleido: Enterprise Blockchain for Modern Business Networks (22:18) – The future of blockchain and importance of Six Sigma in developing emerging technologies (24:57) – David’s experience building SellMyShares Show & Tell Zapier – Connect your apps and automate workflows YouTube – there’s nothing that you can’t learn on YouTube