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In a conversation with Prisila, Correspondent, Asia Business Outlook, Harry shares his views on the biggest challenges facing the adoption and growth of Web3 now. During the conversation he also discussed how to develop a strategic revenue strategy.

What do you believe will be the biggest use cases for Web3 in the next 5-10 years?

When block chain technology was first introduced, many people were skeptical and did not fully understand its potential. However, as the number of successful block chain projects grew, people began to recognize its value and potential impact. Similarly, Web3 is currently a rising trend, but I believe it will quickly become more widespread in the near future.

In the next 5-10 years, we can expect Web3 to be widely adopted for decentralized finance (DeFi) applications, DeFi social networks, and decentralized autonomous organizations (DAOs). These applications have the potential to transform traditional financial systems, enhance user privacy and security, and provide greater access to financial services. However, as with any emerging technology, we can also expect to see new and innovative Web3 use cases in the near future.

What advice would you give to businesses looking to adopt Web3 technologies?

My advice to businesses looking to adopt Web3 technologies would be to first gain a thorough understanding of the technology and its potential use cases. They should also carefully evaluate their business needs and determine how Web3 technologies can enhance their operations and improve competitive advantages. And the other piece of advice is to start small. Instead of trying to implement Web3 technologies on a large scale, businesses should start with smaller, pilot projects to test the technology and identify any potential challenges or issues.

Building a strong network of peers, mentors, and advisors is crucial. This can keep you informed of new opportunities in the industry, and help you connect with potential partners and customers.

In your opinion, what are the biggest challenges facing the adoption and growth of Web3 now?

From my perspective, I believe the main challenges hindering the adoption and growth of Web3 are the lack of awareness and understanding among businesses, as well as the complexity of the technology itself. Many businesses may not see the immediate benefits of adopting Web3 technologies and may be hesitant to invest in something they don't fully understand. Additionally, the technology is still in its early stages and requires specialized knowledge and expertise to implement and manage effectively. As such, it is important for businesses to educate themselves on Web3 and work with experienced partners to navigate the complex landscape of this emerging technology.

Do you feel there is an approach or technique to success in this role? What advice do you have for aspiring leaders in this position who are looking to take advantage of new opportunities?

As a Chief Revenue Officer (CRO) of an IT/Blockchain company, I have some advice for leaders and managers in similar positions. Firstly, even if you are not a technical expert, it's important to keep up with tech trends and develop your technical skills. Having a basic understanding of the tools and platforms used in the industry will help you effectively communicate with your team and make informed decisions about technology investments.

Secondly, focus on developing strong leadership skills, such as communication, delegation, and problem-solving. Knowing how to select suitable team members for different positions will help them to develop optimally.

Finally, building a strong network of peers, mentors, and advisors is crucial. This can keep you informed of new opportunities in the industry, and help you connect with potential partners and customers. Networking is vital in the technology industry and can help you to stay ahead of the curve.

"Having a basic understanding of the tools and platforms used in the industry will help you effectively communicate with your team and make informed decisions about technology investments."

Tell me about how you utilize key performance indicators (KPIs) and other metrics to assess and improve performance in your job, as well as how you develop a strategic revenue strategy. Please describe your procedure.

For me, a highly effective way to track and manage a company's growth is through regular market research and setting Key Performance Indicators (KPIs) based on quarterly market growth. For instance, at SotaTek, the marketing department conducts research quarterly to identify potential markets for development such as Asia, the US, Europe, etc. Based on the level of demand and growth of each region, the sales director then sets KPIs such as the number of leads per month for sales and decides which services to prioritize. This enables us to track our progress and make data-driven decisions in developing a strategic revenue strategy.

Additionally, we develop a strategic revenue strategy by aligning our business objectives with market trends & customer needs and regularly reviewing & adjusting our strategy based on performance metrics and feedback from our customers and stakeholders.

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Exploring the Possibilities of Web3: A New Era of Decentralization - Asia Business Outlook

Thiruvananthapuram: The Transport Department has decided to divide the Kerala State Road Transport Corporation (KSRTC) into three independent corporations in a bid to make the services more efficient, profitable, and reliable.

As per the trifurcation plan to be implemented in June, four or five districts will form the jurisdictional area of each corporation with each of them getting a new name. The state has altogether 14 districts.

The administrative responsibilities of the three corporations will be entrusted to Kerala Administrative Service (KAS) officers who will join the service in June. They will have the liberty to introduce reforms to turn the corporation profitable.

The individual corporations will decide all the matters, including the transfer and salary of the employees. Transfers will be given only within the jurisdictional area of each corporation. Assets like buses and depots will be divided up among the three corporations.

It is not easy to decide the services from the Chief Office in Thiruvananthapuram by taking into account the exact needs of the local areas in each district. People should not be made to wait for getting a response to their grievances from Thiruvananthapuram. The planned decentralisation will help in making the services more efficient and ensure better travel facilities. The process of dividing the KSRTC into three corporations will be completed soon," stated Transport Minister Antony Raju.

Even though the KSRTC was divided into four zones earlier to ensure better operation of the services, they will cease to exist once the corporations are formed.

Long-distance services will not function under the new corporations but will continue to be run by the 2021-founded K-SWIFT transport company.

TN modelThe corporations will be formed on the lines of the model in Tamil Nadu which has eight road transport corporations. A team under the Transport Secretary had visited Chennai twice to study the functioning of the public transport system in Tamil Nadu.

Likely to impact unionsWith the division of the KSRTC, the strength of the employees organisations is expected to weaken. Recognised trade unions will be formed in each of the corporations by conducting a referendum.

Continued here:

Kerala to hive off KSRTC into three distinct entities in big decentralization push - Onmanorama

The crypto industry is one of the most exciting and innovative sectors in the world today. It offers opportunities for people with diverse skills and backgrounds, from developers and designers to marketers and writers. If you are interested in working in the crypto space, here are some tips on how to get started.

Learn the basics of blockchain and cryptocurrencies. You dont need to be an expert, but you should have a general understanding of how they work and why they matter. You can find many online courses, books, podcasts, and blogs that can help you learn the fundamentals. Some of the topics you should familiarize yourself with are:

What is blockchain and how does it enable decentralization and Trust lessness?

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What are the main types of cryptocurrencies and what are their use cases?

What are the advantages and challenges of crypto adoption and regulation?

What are some of the key concepts and terms in the crypto space, such as wallets, exchanges, smart contracts, DeFi, NFTs, etc.?

Identify your strengths and interests. The crypto industry is very diverse and dynamic, so you need to figure out what kind of role suits you best. Do you want to code, design, write, research, market, or manage?

Do you have a specific domain or niche that you are passionate about, such as gaming, art, social media, finance, or education? Do you prefer working for a large company or a small startup? Do you want to work remotely or in an office? These are some of the questions you should ask yourself to narrow down your options and focus your efforts.

Build your portfolio and network. Once you have a clear idea of what kind of job you want, you need to showcase your skills and connect with potential employers. You can do this by:

Creating a portfolio of your work that demonstrates your abilities and achievements. This can include projects, articles, videos, podcasts, or anything else that showcases your talent and passion.

Updating your resume and LinkedIn profile with relevant keywords and achievements. Make sure to highlight your crypto-related skills and experience, as well as any certifications or courses you have completed.

Joining online communities and platforms where you can interact with other crypto enthusiasts and professionals. You can find many groups on Telegram, Discord, Reddit, Twitter, Medium, etc. where you can learn from others, share your insights, and discover opportunities.

Attending events and meetups where you can network with people in the crypto space. You can find many online and offline events on platforms like Eventbrite, Meetup.com, Crypto.com Events, etc. where you can meet potential employers, partners, mentors, or peers.

Apply for jobs and prepare for interviews. Once you have built your portfolio and network, you can start applying for jobs that match your profile and interests. You can find many crypto-related job boards on websites like CryptoJobsList.com, CryptoCareers.com, CryptoJobs.com, etc. where you can browse through hundreds of openings across various categories and locations. You can also reach out to companies or individuals directly via email or social media if you have a specific opportunity in mind.

When applying for jobs, make sure to tailor your resume and cover letter to each position and company. Highlight your relevant skills and experience, explain why you are interested in working for them, and showcase your enthusiasm and knowledge about their project or product.

If you get invited for an interview, make sure to prepare well by researching the company and their goals, reviewing your portfolio and resume, practicing common interview questions and scenarios (such as technical tests or case studies), and preparing some questions of your own to ask the interviewer.

Working in the crypto industry can be rewarding and challenging at the same time. It requires constant learning, adaptation, and innovation. If you are passionate about crypto and willing to work hard and smart, you can find many opportunities to grow your career and make an impact in this exciting field.

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How to Navigate Jobs in the Crypto Industry - Tekedia

As pharmaceutical companies navigate a rapidly changing and challenging landscape, leaders make continuous trade-offs as to what decisions and activities are driven from the headquarters, and what is left to the autonomy of local organisations. Eelco Rustenburg, Florian van Santen and Koen Harbers from BlinkLane Consulting outline how adopting cross-industry best practices can help pharma companies strike the right balance.

Historically, pharma companies provide relatively much autonomy to their organizational units in respective countries. In part, this follows from a strong growth-through-acquisition strategy. But it is also by design: decentralization allows for a better understanding of local markets, including specific rules and regulations for commercial engagement.

However, in recent years the downside of the decentralization model has also received much attention. As the need for innovation in all aspects of business increases from R&D to marketing investments grow substantially. The notion is that smaller markets are less able to keep up with the pace of change without the explicit support from global functions.

This is true for complex drug development naturally, but equally so for digital technology. Digital tech trends include the application of data-driven drug development, artificial intelligence and machine learning, and an increasingly complex marketing tool stack to personalize the message to customers and patients. Against this backdrop, many pharma companies are opting to increasingly centralize their organizations.

Yet as the level of centralization increases, so too does the risk of increasing decision-making latency the time it takes to reach a decision in response to a business change. Which in turn substantially hampers agility.

Therefore, pharma companies need to face the challenge: how to align all the individual stakes and priorities of local and regional affiliates? Or put differently: how to leverage the benefits of scale that central organizations bring whilst avoiding the risk of inertia from being pulled in every direction?

This challenge is not new pharma companies can learn from enterprises in other sectors that have taken on this challenge before. A large part of the answer can be found in three pillars: optimizing development speed, embracing agility across, and creating goal transparency and alignment.

While this might seem like an obvious pillar, in practice we see that organizations typically only give focus to an individual element: IT. True speed requires the whole organization to think and act differently.

A Swiss-based media company realized it had no shortage of ideas, but only a fraction made it to implementation and even these happy few suffered from long lead times. Rethinking the collaboration structure and process led to cross-functional teams, combining profiles from marketing, communication, web development and more.

Within three months of adopting the new way of working, project delivery (a campaign, a promotional article, a landing page) went up significantly.

Market circumstances change. At the same time, pharmaceutical companies serve multiple markets globally, and have to deal with an equal number of regulatory bodies. The result: complex governance and decision-making.

No amount of development capacity operating at maximum conceivable speed will ever be able to satisfy all affiliate needs all the time all at once. Enter the challenge of prioritization for global capabilities. Many multinationals that have grown from a central hub (e.g. airlines), have followed a productization strategy. Product [Management / Marketing / Strategy] has the authority and capabilities to make reasoned decisions in relative isolation.

In pharma companies, due to the nature of their products and market segments they serve, local knowledge is vital for the success of any new product or campaign launch. And that only supports the decentralized nature pharma companies already enjoy due to a history of acquisitions. But the dynamics in large, decentralized conglomerates is very different. As a result, decision making is a far more delicate matter.

Again, pharma can draw lessons from other conglomerates. Take a French-based multinational as an example. With 9 acquisitions in the last 5 years to a total of 20 in its history, it faces similar challenges of product, data and technology-portfolio alignment. They recently realized their project-portfolio governance did little to create a realistic and holistic view of priorities.

Their journey now emphasizes transparency at the global portfolio level and continuous prioritization over smaller pieces Minimum Viable Products of the initiative roadmap. It will allow them to shorten the feedback loop to all regional participants, earn their trust and remain agile.

Amplifying this agile portfolio governance for global capabilities is the emergence of local portfolio governance offshoots. Supported by a central team of experts, local and regional offices are adopting the same decision-making framework. From a local perspective, this strengthens their argumentation to the global team. But it also allows them to safely separate initiatives that do not need global support from the ones that do creating a two-track portfolio at the local or region level.

The role of the global team does not need to stop there. A parallel can be made with B2B tech companies. A European technology provider has a dominant position in travel tech, counting many of the major airlines as their customers. To serve their customers they rely for a large part on central product teams. But from a customers point of view, this is only a part of their total development capacity.

Often, they have their own teams that need to integrate with the companys products. They are not only interested in prioritizing all different customer requests for their own backlog in a manner that is explainable. They also promote and facilitate in-depth knowledge sharing across their customer base on topics that does not directly concern them yet.

They know that such conversations will lead to more uniform airline technology roadmaps which supports the reuse of their capabilities. Providing such a knowledge platform also makes them aware of what is happening, and where future global demand will be. Though different in context, similar principles in dynamics apply to global and regional teams in decentralized organizations.

A well-functioning portfolio management system allows for relatively quick comparison of a set of initiatives against a known set of value indicators. But that presumes we all have the same goal in mind. Which for large organization is rarely the case. To really reap the benefits of a central resource hub unhindered by the inherent increase in decision-making complexity, pillars 1 and 2 need to be accompanied by pillar 3.

A German tech conglomerate builds, markets and sells amongst others energy grid software globally. For all organizational functions and sites to work together and prioritize ideas effectively, they make sure each of them has the same set of objectives in mind. Top-level objectives are shared and form the basis for department goals.

Key results a system of outcome-oriented measurements provide the necessary clarity and focus: without these strategies risk becoming a container for everything, hollow words, or both. Conversations around these OKRs ensure high-level alignment and allow management teams to examine the inherent trade-offs between them. As such they also serve as a cheap litmus test: little acceptance signals the organization hasnt bought into such plans just yet.

Regular review cycles typically the quarter between leadership ensures also these objectives move along with reality. With an outcome-based objectives mechanism in place, global functions can always bring tense conversations back to the impact initiatives have on them. And working from a shared context is also the best guarantee that the discussions you do have, are really the ones in pursuit of selecting the best ideas to fit a shared agenda.

The global functions in pharma companies can benefit a lot from this level of alignment with their affiliates.

In the decentralized organizational setup common among pharma companies, strongly centralized change programs are highly scrutinized. The prevailing thought appears to be that the benefits of decentralization (local accountability, customization to context) also apply to organizational change. We would argue this to be a fallacy in the highly connected areas of technology-supported business functions.

Indeed, adaptation to local context is necessary. But where alignment between organizations is expected, working from common principles, a common heartbeat and a common language is a must.

Second, bottom-up changes in the way of working, however promising, just dont scale to its full potential without strong leadership support. Such support goes beyond sponsorship. In all cases outlined, leaders have actively encouraged their units, aligned with their peers, and convinced their superiors to offer the means as well as the freedom to experiment. They managed to build a coalition and sought the necessary expertise internal and external.

A Dutch public transport organization sought to radically transform their organization, merging Commercial with IT for all related business functions. A complex transformation breaking through silos and hierarchy, the transformation itself is set up as a program. The Director Commercial and IT was directly responsible for the success of the transformation.

The program worked with a smaller dedicated transformation team augmented with part-time change leads and ambassadors spread out over the Commercial and IT organizations functions. In this way, the organization kept track of the success of and lessons learned from the transformation to cross-functional teams in all areas whilst giving them autonomy to fit the changes to purpose as needed.

Over the past years, BlinkLane Consulting has applied the discussed transformation approach at many other clients like Air France KLM, Amadeus IT Group, and high-tech giant ASML.

Read more:

Organizing decision-making in pharma: centralized versus decentralized? - Consultancy.eu

The way we do business is changing as technology develops. The realm of finance is one such sector where technology is having a huge impact. The rise of cryptocurrencies has put the conventional banking system under pressure and is presenting an alternate method of conducting financial transactions. In this article, we will examine the distinctions between regular banking and cryptocurrencies and emphasize the advantages of each.

The rise of cryptocurrency

In order to safeguard transactions and regulate the generation of new units, cryptocurrency employs encryption methods. With the development of Bitcoin, the first and most well-known cryptocurrency, it was presented to the public in 2009. Other digital currencies have since emerged, including Litecoin, Ethereum, and Ripple. Cryptocurrencies are not centralized, unlike traditional money, and are not managed by a bank or government. Transparency, security, and near-impossibility of manipulation are all a result of transactions being recorded on a blockchain, a public ledger.

The traditional banking structure

On the other hand, the conventional banking system has existed for many years and has served as the main method of managing financial transactions. In this centralized system, banks serve as a middleman between the parties to a transaction. You are effectively lending the bank your money when you deposit money in a bank, and in exchange, the bank pays you interest. Banks lend money to people and companies, charging interest in exchange, using the funds they receive from deposits.

Cryptocurrency and traditional banking: Differences

The key distinctions between cryptocurrencies and conventional banking come from the way they are built.

Centralization vs. Decentralization- Cryptocurrencies and

conventional banking vary most noticeably in their decentralized vs. centralized organizational structures. Decentralized means there is no single entity in charge of cryptocurrency. Traditional banking, in contrast, is centralized, with banks serving as go-betweens for the parties to a transaction.Transparency- Transparency is another significant distinction. Transactions involving cryptocurrencies are transparent and nearly difficult to tamper with since they are kept on a public database known as a blockchain. While banks are not required to make their transactions publically available, traditional banking transactions are opaque.

Security- Another significant distinction is security. Cryptocurrencies are protected by encryption methods, making hacking them nearly hard. Contrarily, traditional banking institutions are open to fraud and online threats.

Advantages of cryptocurrencies

Lets examine the advantages of each now that we have examined the distinctions between cryptocurrencies and conventional banking.

Transparency- Transparency is among the most important advantages of cryptocurrencies. Transparency and security are provided via the recording of transactions on a blockchain, a type of open ledger. This openness lowers the possibility of fraud and guarantees that business dealings are handled fairly.

Decentralization- Due to the decentralized nature of cryptocurrencies, users can verify and record transactions, providing greater transparency, increased security, and lower transaction costs. You have complete control over your assets when you buy bitcoin or other cryptocurrencies since there is no need for a centralized organization or middleman.Security- Additionally, cryptocurrency is incredibly secure. Transactions are protected using encryption methods, rendering them essentially unhackable. As a result, consumers may transact with assurance knowing that their valuables are secure.

Advantages of conventional banking

Several advantages are also provided by conventional banking systems.

Regulation- Regulation is a key advantage of conventional banking. Banks are subject to a lot of regulation and have to follow tight guidelines. This guarantees that business dealings are performed honestly and that client assets are safeguarded.

Familiarity- Additionally, most people are more accustomed to traditional banking systems. Banks have been processing financial transactions for many years and are a reliable option.

Customer service- Last but not least, conventional banking systems provide customer service. If you require assistance or have a problem with your account, you may contact customer support, who can assist you in resolving the situation.

Which is better, traditional banking or cryptocurrency

This questions answer will depend on your unique needs and preferences. Both cryptocurrencies and conventional banking systems have advantages and disadvantages, so the choice ultimately depends on which is more appropriate for your requirements. Cryptocurrency could be a better option for you if you value transparency, security, and decentralization. However, traditional banking may be a better choice if you value regulation and customer service and prefer the familiarity of those systems.

It is also important to remember that while cryptocurrencies provide a number of advantages, there are also hazards involved. Because they are so volatile, cryptocurrencies values can change drastically very quickly. Additionally, there is a chance of fraud and computer attacks, and because cryptocurrencies are unregulated, investors have no protection. Traditional banking systems, on the other hand, provide consistency, security, and regulation. Your valuables are safeguarded, and if you want assistance, you may contact customer service. Traditional banking systems can be sluggish and expensive to use, and they can also be vulnerable to fraud and cyberattacks.

Final reflections

With an alternate method of handling financial transactions, cryptocurrencies have challenged the conventional banking system. Traditional banking institutions are controlled, regulated, and provide customer service; cryptocurrency is decentralized, transparent, and secure. A persons preference ultimately determines whether to utilize cryptocurrencies or conventional banking systems. When choosing between the two systems, its crucial to take your needs and preferences into account even though each has advantages and disadvantages of its own. Understanding the dangers and advantages of the system you select as well as taking action to safeguard your assets are crucial.

Originally posted here:

Cryptocurrency vs. Traditional Banking: Understanding the ... - Global Trade Magazine