Stephanie So

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Leaders of traditional companies across industries may be hearing a lot about the unique versatility and security of blockchain technology and wondering what role it could play in their own businesses. With many pundits proclaiming Web3 and decentraIization to be the future of business and financial transactions, there is likely a sense of urgency behind at least better understanding the possible benefits. Rather than striking out on its own, a traditional company might benefit from partnering with a well-matched blockchain project, whose leaders can offer expertise not only in the underlying technology, but also in the best ways to leverage it. Below, 10 members of Cointelegraph Innovation Circle discuss ways traditional companies — and their blockchain partners — could benefit from teaming up.

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Offering both big-picture and detailed views of transactions, blockchain explorers are a powerful tool for both individuals and companies. Even those who aren’t steeped in the finance industry can probably call up a visual image of an old-school stock ticker, generating lengths of white tape to help investors stay on top of stock market transactions and developments. Today, these have been supplanted by up-to-the-moment digital trackers. In similar fashion, the crypto industry has blockchain explorers, which offer users real-time tracking of not only their own transactions, but also everything happening on the blockchain. Providing invaluable information for both individuals and companies, blockchain explorers bolster insiders’ argument that cryptocurrencies can be a secure and trustworthy option for investments and digital transactions. Below, 11 members of Cointelegraph Innovation Circle discuss some of the benefits blockchain explorers offer to all users.

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Cross-chain operability may only be achieved when there’s not only a way, but a will to move forward. Even crypto industry outsiders are gaining clarity on the benefits of blockchain technology, which is a significant step forward for the ecosystem. However, a challenge remains: The industry still struggles with interoperability between blockchain networks.  Unless different chains can safely and efficiently communicate and exchange data, the full power of blockchain — including true decentralization, new use cases, lower costs and, ultimately, further innovation — can’t be achieved. Here, 10 members of Cointelegraph Innovation Circle discuss some of the challenges still standing in the way of achieving cross-chain interoperability and how they can be overcome.

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Absent clear, comprehensive regulatory guidance in the U.S., crypto companies would be wise to shore up their accounting systems.   The U.S. presents many obstacles to crypto companies, with a multiplicity of federal and state regulatory agencies having real or potential jurisdiction over the industry. Its unique political environment has contributed to more governmental skepticism toward crypto than is seen in other countries, and high-profile punitive actions by the Securities and Exchange Commission are making many crypto companies nervous about maintaining a foothold in the U.S. Despite all this, there is also high-profile support for crypto in the U.S., so many crypto companies will be unwilling to abandon or postpone entry to the U.S. market. While there may not be a single set of clear, comprehensive guidelines for crypto companies in the U.S., there are smart strategies that can help them stay on the right side of regulators. Below, eight members of Cointelegraph Innovation Circle share tips to help crypto companies improve their accounting procedures and compliance standing in the U.S.

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Blockchain protocols can’t (and shouldn’t) ignore AI’s potential, but it’s important to implement it with caution and care. Across industries, it seems all anyone is talking about is artificial intelligence. Even companies that aren’t tech-forward are scrambling to discover how AI works and what it could do for them. Given the impact AI is predicted to make, it’s hardly surprising that blockchain protocols — part of an industry that is decidedly tech-forward — are exploring what role(s) AI could play for them. From data analysis to improving scalability to fostering interoperability, AI could prove to be a powerful tool in the arsenal of blockchain protocols. Still, it’s essential to carefully review not only all the potential benefits, but also the possible complications. Below, 12 members of Cointelegraph Innovation Circle discuss some of the things blockchain protocols should consider as they begin exploring AI.

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Blockchain-based data providers are faced with a golden opportunity — if they’re able to scale their infrastructure to handle the demand. Each year, the amount of data generated across the globe is growing exponentially. From the explosion in the use of digital tools in the workplace to the ever-growing use of Internet of Things devices, social media, online gaming, e-commerce and other digital platforms, each day sees the creation of a massive amount of data that needs to be stored securely and efficiently.  Blockchain technology provides a decentralized, immutable, secure solution, making it an ideal option for multiple industries. But first, blockchain-based data providers need to prove they can scale to meet the exploding demand. By leveraging smart partnerships and building new solutions that are compatible with what’s already in the market (and familiar), the blockchain industry can lead the way in addressing an issue in genuine need of a solution. Below, 10 members of Cointelegraph Innovation Circle share tips to help blockchain-based data providers scale to meet the ever-growing demands of the broader data storage space.