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Prioritizing Digital Employee Experience in Your Business Strategy

As more businesses embrace a long-term hybrid work model, the digital employee experience is gaining traction. The reality of a workforce that can work from anywhere has elevated DEX to a critical business priority. As a result, if you want to create a productive, profitable, and stress-free work environment, you must pay special attention to the digital employee experience. What is Digital Employee Experience? As the name implies, digital employee experience (DEX) is a reflection of how effectively people interact with their workplace digital tools, allowing them to be engaged, proficient, and productive. There are probably a lot of examples that come to mind when you reflect on employee daily interactions with technology. The digital experience begins to emerge as soon as new employees join the company. This covers touchpoints during the hiring, onboarding, training, and even offboarding phases of hiring new employees. Companies around the world can now work more efficiently at home and in remote locations thanks to digital tools. People nowadays expect flexible and remote work options while still feeling connected and valued. According to Sift, digital employee experience is becoming increasingly important in the post-COVID workplace, as well as in shaping the overall employee experience. A strong DEX is required to create the best working environment for employees. Five Factors of Digital Employee Experience The digital employee experience includes quality, usability, and dependability. However, it also includes inclusiveness, accessibility, and other aspects of the user experience. Let's look into particular factors of the digital employee experience: Performance of devices and programs: How is the data load speed and its configuration? Does it fully integrate features to support employees' work? Does it cause crashes when performing a large amount of work or for an extended period of time?Reliability of devices and programs: Do the apps pose a data security risk or a privacy threat?Mobility: Do employees have the tools necessary to perform their jobs well from any location? Is it possible to log into accounts and sync data across multiple devices?Collaboration: Do programs give employees the tools they need to collaborate with their teammates? Do they increase productivity? Do they help a company succeed?Convenience: Are the processes of installing software, logging in, and working on the platform quick and simple? Is the program's interface simple to use? How long does it take to become acquainted with the app's features? In addition to the above factors, the way the IT department collaborates with the business and with specific employees to address problems and service requests, deploy new technologies, train staff, and collaborate with staff to comprehend and fulfil requirements is all part of the digital employee experience. Benefits of a Positive Digital Employee Experience According to a joint study by Microsoft and Qualtrics, employees were found to be 121% more employees who had a positive digital workplace experience were more likely to feel appreciated by their organization. A good digital employee experience can be beneficial in a number of ways, such as: Improved Employee Satisfaction and Retention If you can provide your team with the tools they need to make their jobs simpler, it will almost certainly lead to happier and more engaged workers. Excellent technology can liberate workers to work how it best suits them. It can promote a healthy work-life balance and even make it easier for employees to access the tools they need to complete several tasks quickly. This results in higher retention, wherever they work, whether remotely, hybrid, or in the office. Increased Productivity and Efficiency Giving employees digital tools that are simple to use and reliable will increase output. However, many employees encounter slow, cumbersome internal systems and dated hardware on a daily basis, especially for hybrid or remote workers. Employee productivity will be directly impacted by supporting IT so making sure they are prepared to handle issues with digital friction, such as network and device problems. With fewer trouble issues, better automation, and quicker remediation, less time will be spent on device maintenance and more time will be available for work. Enhanced Collaboration and Teamwork Your users can participate in virtual communities if your digital workplace places a strong emphasis on communication and collaboration. These eliminate the geographic restrictions that globalized workforces must deal with. This can result in faster problem solving, improved knowledge sharing, and higher output from all project participants. Positive Impact on Company Culture The workplace is no longer simply a place where people clock in and out and get paid. Work is now a far richer experience than it has ever been. People feel more empowered, in control, and capable of shaping their position in the workplace as a result of integrated technology. How to Create a Positive Digital Employee Experience? Here are a few things to keep in mind if you want to improve your business DEX: Make it Easy and Accessible Make digital tools simple to use, accessible, and intuitive for all employees. This could include ensuring that the tools are device-compatible, optimizing response times, and providing clear instructions. Customize Your DEX People interact with technology in a variety of ways. It is necessary to customize digital tools and experiences to their needs and preferences. Allow employees to select their preferred communication channels, for example, and set up support systems based on individual preferences. You could also provide personalized learning experiences, such as customized modules for new employees or videos of company processes. Measure The DEX More businesses are utilizing digital DEX management tools to aid in continuous improvement. DEX management tools collect and analyze usage and performance data. The information and trends are then analyzed to gain insights to help guide strategy and improvement. According to Origami, companies that are DEX Leaders are more likely to track their technology's ease-of-use and take it as an important factor to improve employee experience. Beside that, other aspects of the user experience, such as configuration, performance, and reliability, should also be considered. Enhance Collaboration When various departments work together to enhance the digital employee experience, you can approach the process from a broad perspective. This enables management to create a digital employee experience that empowers all employees and optimizes workflows for teams across the organization. Improve Training and Support Employees should receive ongoing training and support to help them use digital tools effectively. You could also provide resources such as help documents, instructional videos, and frequently asked questions. This guarantees that employees have the resources they need to make the most of their interactions with digital tools. Conclusion By funding DEX, businesses can increase productivity, profitability, and employee satisfaction. It can be difficult to prioritize the digital employee experience and put favorable improvements into practice. Through improved digital adoption solutions, SupremeTech will assist you in achieving your goals for the digital employee experience. Give us a visit with our excellent products, which might be your best choice to improve the digital employee experience for greater success overall. Reference Jackson, S. (no date) How HR and IT power teams can build digital work with heart, Four dots in a downwards triangle pattern next to Sift. Available at: https://www.justsift.com/blog-posts/how-hr-and-it-power-teams-can-build-digital-work-with-heart (Accessed: 15 October 2024).

What is Digital Disruption and Why is it Changing The Game?

Digital disruption refers to devices, technologies, services, and ideas that have a significant impact on their respective industries and ultimately transform them profoundly. By utilizing disruptive technology, enterprises might constantly break into new marketplaces or seize the chance to substitute established giants in a certain industry. It's crucial to comprehend how this kind of technology affects various businesses. In this article, we examine the most outstanding examples of digital disruption, its advantages and disadvantages, and some of its most notable strategies. 4 Examples of Digital Disruption Here are some examples of digital disruption: Uber and The Taxi Industry Companies like Uber have disrupted the taxi and transportation industry by offering convenient, app-based ride-hailing services. This has impacted traditional taxi services and forced them to adapt to new business models and technologies. To remain relevant, big businesses must consider their customer experience and how it might be disrupted by smaller, more agile players, and then act to stay ahead of any encroaching competition. Netflix and The Entertainment Industry Netflix have disrupted the traditional television and movie industries by offering on-demand streaming of films, TV shows, and original content. This has unquestionably accelerated the movement toward cord-cutting. Almost 35.5 million American families, or about 27% of all households, had paid cable service cancellation plans for 2021, and it is anticipated that this trend will continue. Amazon and The Retail Industry Online marketplaces like Amazon have transformed the retail landscape, making it possible for consumers to shop for virtually anything from the comfort of their homes. This has led to the decline of brick-and-mortar stores and forced traditional retailers to adapt to online sales. Source: Forbes Airbnb and The Hospitality Industry In cities with increased demand for hotel rooms, where there is likely simply insufficient real estate to fully meet this need, Airbnb has the biggest influence on room availability and the hotel business. The growth of Airbnb has had a significant impact on both the supply and demand sides of the hotel industry equation. It has also changed consumer expectations, fundamentally altering the demand side. Advantages of Digital Disruption Benefits of innovation Disruptive technology's capacity to provide customers with novel and significant advantages is one of its fundamental characteristics. The entire industry is altered when this kind of technology hits the market. The internet has changed how people previously gathered knowledge, including through newspapers, libraries, and even social interactions. Also, it transformed how people might conduct research. Individuals and organizations can both profit from the advantages that disruptive technology offers to their everyday activities by adopting it. Source: Walton College - University of Arkansas Opportunities for startups Startup businesses have potential to establish themselves significantly in mature markets thanks to disruptive technology. Early adopters of the new technology can position themselves as thought leaders in an untapped market. Small startups now have a rare opportunity to develop quickly and possibly surpass bigger, more established businesses. Opportunity for business expansion A well-established business has excellent development potential when it voluntarily adopts disruptive technology, either in its existing industry or in a new industry that the technology creates. Companies that can seamlessly integrate disruptive technology into their existing line of products and services can assist existing customers in transitioning to the disruptive technology while also capturing new buyers with their entry into the new market. Disadvantages of Digital Disruption Unrefined inventions New technology is often untested and unrefined during its initial development stages, which can take years. Businesses may struggle to market innovative products during this period, and early adopters may deal with clunky prototypes. Source: Perficient Blogs - Perficient, Inc. Initial performance issues New ideas aim to solve existing problems, but they often face initial issues, like software bugs. Updates and patches are required to address these, which can make early adoption difficult. Untested software Disruptive technology needs time to establish its market presence. Potential applications may be untested, causing consumers to question if the innovation can effectively replace its predecessors, such as cooks questioning early electric mixers' performance compared to manual methods. Strategies for Navigating Digital Disruption Businesses must have a solid strategy in place to deal with digital disruption: Embracing New Technologies and Digital Transformation The process of digital transformation is strongly associated with digital disruption that happens when a new technological advancement disrupts the existing business environment and challenges the prevailing norms. Digitalization is the transition from software-driven to human-driven processes. For companies, this conversion can be rather simple, and it frequently enables the core business model to stay intact. Nevertheless, with digital transformation, technological innovation profoundly alters how businesses function and has an impact on their overall value proposition. An organization must rethink its entire operational strategy in order to survive, adapt, and integrate new technologies and digital innovation throughout the entire supply chain. Source: REAL security Investing in Research and Development To be prepared for today's fast-paced world, research and development (R&D) strategies are required to model technological innovation and serve as an innovation engine. Investing in R&D could provide a significant competitive advantage at the business, industry, or national level, as well as the level of innovation required by the UK economy to maximize growth. R&D, exploration, analysis, discovery, and creativity will cultivate new insights and assist us in navigating. Without it, we'd have to rely only on our gut feeling and good fortune. Fostering a Culture of Innovation and Adaptation There is a strong relationship between a company's innovation culture and its rate of growth. Simply put, businesses that promoted a strong culture of innovation experienced faster rates of growth and improved financial results. No longer is culture the only determinant. Other factors that contribute to a company's need and urgency to innovate include an industry's competitive landscape, entry barriers, and degree of disruption. Furthermore, a company's R&D spend, patents, and ability to scale innovation all have an impact on its ability to innovate. Our research, however, confirmed that culture plays a significant role. Conclusion Digital disruption has become a buzzword among businesses large and small. It's also one of the most important trends today because it has the potential to radically change how we live and work. The impact of digital disruption can be seen across industries and markets, from the way consumers make purchases to the way businesses trade. Do you want to learn more about digital disruption? Are you preparing for the changes in your industry? Don’t hesitate to contact SupremeTech for further support!

Interesting things about Blockchain from a non-tech view perspective

Introduction Blockchain - the keyword is popular in Covid-time as known as much along with cryptocurrency, however, that is not enough when talking about the purpose of Blockchain. So, what is this? does and how it impacts our business value in the future, and what we should prepare for now, that is much question we should clarify. Let’s explore the Blockchain with me from a non-tech perspective Blockchain definition & benefits Source: https://www.freepik.com The definition of Blockchain is not a long story but that is not easy to understand, because some content has been defined in tech that we can’t think of as simple. That is why we are here just thinking about Blockchain without any technical content. Looking back at some traditional businesses. Finance industry Source: https://www.freepik.com Present Imagine a financial system or use it for existing purposes. However, printing how much, how, and whether that number is really accurate or not, can only be stored and reported on government databases. Since this database is developed and operated by the host government, is the information really reliable? Whether there are problems related to editing, cheating occurs in the system or not? That’s the problem, trust in published data is not really reliable, as it is stored entirely in a database and centralized in a national agency. So, if there is a technology that can make information more transparent, all money printing and publishing data cannot be edited, just like what was announced before. That’s what we’re looking for - Blockchain technology. Solution With Blockchain technology, we don’t just use the traditional database, we can publish the data which should be transparent with citizens into a blockchain database where anyone can scan the data and trust it. We say trust means that anyone doesn’t need to verify or take care to audit this data because Blockchain technology is designed for truth and transparency. The data will be published on Blockchain, and it isn’t only stored in one place, the data will be shared in all nodes in the Blockchain network with the same data and not editable. We call it a decentralized database. If you need to fix the wrong issue that you have published on the chain, you can only publish with new data. However, the old data is still present. Anyone who wants to see the change can do it. We found the main key in this story: trust, transparent and decentralized database. Retailing business Source: https://www.freepik.com Present In the retailing business, we still have many problems, one of which is the fake item and warranty cross country. The root cause of a fake item or warranty is that the customer can’t identify the source trust of an item. The database of the item might be stored in headquarters and when the item has been distributed in another country, we have no way to verify that item or we can’t open the headquarter database for connection from the branch. So, that is a bad thing with a centralized system. And, Blockchain technology saves us a lot. Solution We think about the database as a decentralized system, and we want to make it more accessible in some places in the world. But, we also know that some security or policy does not accept it. And, how we can resolve this issue. As designed, Blockchain technology highly respects security in its concept. Though that database is public and can be accessed in many places in the world, each node is managed by a physical machine system in one place. In case one node has been attacked by a hacker, the data is still alive in another node and the hacker can’t edit anything on the chain. Because the data is shared with the same content between nodes and it always keeps syncing up anytime opens. In this story, we can see the strengths of Blockchain are decentralized and open. However, being open does not mean that it is not secure. That’s why we need to understand Blockchain Technology as much as possible and adapt to this can open new challenges in the future. Your business We don’t know you as much as your business issue. However, learning and adapting technology is highly recommended for business. If you need help, don’t forget to contact us. Blockchain Technology is the new tech that might change when migrating from Web2 to Web3 ecosystem, and that technology is growing day by day. What are the types of blockchain networks and how do businesses pick one? Source: https://www.freepik.com Blockchain technology is designed for decentralized networks, however, depending on the Business model, we can pick one of these types to start. We have four main types of Blockchain: Public blockchain networks are permissionless and allow everyone to join them. All members of the blockchain have equal rights to read, edit, and validate the blockchain. People primarily use public blockchains to exchange and mine cryptocurrencies like Bitcoin, Ethereum, and Litecoin.Private blockchain networks: A single organization controls private blockchains, also called managed blockchains. The authority determines who can be a member and what rights they have in the network. Private blockchains are only partially decentralized because they have access restrictions. Ripple, a digital currency exchange network for businesses, is an example of a private blockchain. If your business just wants to start with a private inside, we can look at it.Hybrid blockchain networks: combine elements from both private and public networks. Companies can set up private, permission-based systems alongside a public system. In this way, they control access to specific data stored in the blockchain while keeping the rest of the data public. They use smart contracts to allow public members to check if private transactions have been completed. For example, hybrid blockchains can grant public access to digital currency while keeping bank-owned currency private.Consortium blockchain networks: A group of organizations governs consortium blockchain networks. Preselected organizations share the responsibility of maintaining the blockchain and determining data access rights. Industries in which many organizations have common goals and benefit from shared responsibility often prefer consortium blockchain networks. For example, the Global Shipping Business Network Consortium is a not-for-profit blockchain consortium that aims to digitize the shipping industry and increase collaboration between maritime industry operators. How to determine the cost? Source: https://www.freepik.com The migration from the traditional system to the blockchain is very welcome if we identify the correct issue. However, the main thing that we also take care of is the cost of implementation and does it effectively after migration. The cost will be calculated depending on many things listed here: The purpose and the features needed.Blockchain type and which platform we are targeting.Technology stacks.Especially the transaction count in the system.… and more. Though we can’t provide exactly the cost, we are defined and broken it down into an estimation report and can consult if you are interested. The following estimation includes the cost for: Analysis.Consulting.Development (Implementation and Testing).Delivery and maintenance.Cost for services in charge. Based on the above conditional, we can provide the detailing of proposals based on your interest and help you closer than your expectation. Conclusion Source: https://www.freepik.com From a business perspective, Blockchain can really help us scale and solve the backlog problems in the business model. Although it is not always advisable to apply technology in the business, being open in business, specifically here, sharing problems can help us find the best adaptive solutions and effective measurement instead of being subjective in the old model, because everything happens very quickly and if we do not adapt in time we can be left behind. The main keys for Blockchain in this article are Decentralization, Immutability, Consensus, and Transparency. So, don’t miss anything to adapt to the blockchain when the new big things might come soon in Web3.

Centralized vs Decentralized Crypto Exchanges

Hi everyone, It’s Binh again. I am writing this as the 3rd blog post in the blockchain technology blog series. Please be sure to check my previous posts in the series which are: Exploring The Opportunities Of Blockchain Development and Welcome To Chapter 3.0 Of The Web: The Business Model And User Benefits. After covering the basic concept of Web3, which is still in the conceptualizing phase, I would like to return to the reality of the current solution in the market in this post so that you can have a more practical view of how Web3 should be used and built. What is the most used blockchain solution currently? Of course, most current internet users would say it is a cryptocurrency exchange. Yes, despite the doubt about cryptocurrency’s feasibility and toxic news about highly speculating trading, the cryptocurrency exchange is undoubtedly the most popular blockchain application in the market. Today, I will dig deeper into this application and how it is built as a Web3 application. At the end of this blog, you will have a clearer understanding of the decentralization concept of Web3, especially how it is different from Web2-like centralized solutions. I heard about CEX and DEX, but what are these keywords really about? In the world of cryptocurrency trading, there are two primary types of exchanges: centralized exchanges (CEX) and decentralized exchanges (DEX). While CEXs like Binance and Coinbase have become the go-to for many traders due to their user-friendly interfaces and high liquidity, they also come with significant risks. On the other hand, DEXs like Uniswap and PancakeSwap offer greater security and privacy but at the cost of lower liquidity and a steeper learning curve. Next, I will guide you to explore the key differences between these two types of exchanges and why the rise of DEXs brings us closer to the original vision of a truly decentralized web. You are not holding a real crypto asset while trading in a centralized system like CEXs CEXs are built around a traditional model of finance where a single entity controls the platform, holding custody of users' funds and acting as an intermediary for all transactions. This means you do not have tangible crypto assets if you trade on these platforms. You are just trading a number in your account stored in these apps’ databases. While this model has allowed for the rapid growth and adoption of cryptocurrency trading, it also presents significant risks for traders. If a centralized exchange is hacked, users' funds can be stolen or lost entirely, leaving traders with little to no recourse. The Mt. Gox hack in 2014 serves as a stark reminder of the risks associated with centralized exchanges. At the time, Mt. Gox was the largest Bitcoin exchange in the world, handling over 70% of all Bitcoin transactions. However, it was later revealed that the exchange had been hacked, resulting in the loss of 850,000 bitcoins, worth over $450 million at the time. The hack had a significant impact on the cryptocurrency market, causing the price of Bitcoin to plummet and leading to a loss of trust in centralized exchanges among many investors. Another example of a centralized exchange being vulnerable to hacking and security breaches is the FTX scandal that occurred in July 2021. FTX, one of the largest cryptocurrency exchanges in the world, suffered a data breach that exposed the personal information of thousands of its users. The hackers managed to steal over $8 million worth of cryptocurrencies, including Bitcoin, Ethereum, and Litecoin. These incidents highlight the risks of using centralized exchanges, where users' funds and personal data are stored on a single server, making them a prime target for cyber attacks. Once a hacker gains access to the exchange's server, they can easily transfer the funds to their wallets, leaving users with little to no recourse. Decentralized exchanges (DEXs) are different in nature On the other hand, decentralized exchanges (DEXs) operate on a peer-to-peer network without a central authority controlling the exchange of cryptocurrencies. They are built on decentralized blockchain technology, offering users more control over their funds. One of the key benefits of DEXs is that they are not vulnerable to the same types of hacks as centralized exchanges. This is because users retain control of their private keys and are not required to trust a centralized entity to hold their funds. Additionally, DEXs are censorship-resistant, meaning they cannot be shut down or restricted by governments. For example, a popular DEX is Uniswap, built on the Ethereum blockchain and uses smart contracts to facilitate trades. Users maintain control of their funds and trade directly with each other without the need for a centralized intermediary. DEXs are designed to be “more Web3”, but… While decentralized exchanges (DEXs) offer several advantages over centralized exchanges, they are not without their own set of drawbacks. One of the most significant drawbacks of DEXs is their limited liquidity. Unlike centralized exchanges, which often have large trading volumes and order books, DEXs generally have lower liquidity and smaller trading volumes. This can result in higher slippage and less favorable prices for traders. Another disadvantage of DEXs is their complexity. DEXs are built on blockchain technology and require users to interact with smart contracts, which can be confusing for those who are not familiar with the technology. Additionally, DEXs may have a limited range of trading pairs available, making it difficult for traders to access certain cryptocurrencies. Finally, DEXs are not immune to price manipulation. While DEXs are designed to be more resistant to market manipulation than centralized exchanges, it is still possible for bad actors to manipulate prices by using sophisticated trading strategies or by pooling their resources to create artificial demand or supply. This can result in traders suffering losses and undermining the trust in the DEX platform. TL;DR which platform should I choose to trade crypto assets? Liquidity: CEX typically has higher liquidity than DEX due to its larger user base and higher trading volumes. This means that traders on CEX may have access to better prices and faster trade executions.Security: While DEX is generally considered more secure than CEX due to the decentralized nature of the platform, there is still a risk of hacking and security breaches. It is important to note that decentralized does not always mean completely secure, and users should still take appropriate measures to protect their assets.User Experience: CEX often offers a more user-friendly experience with a familiar interface, advanced trading tools, and customer support. DEX, on the other hand, may require users to have a basic understanding of blockchain technology and may have a steeper learning curve for beginners.Regulation: CEX is subject to more regulation and oversight than DEX, which operates in a more decentralized and unregulated environment. Depending on your perspective, this can be seen as a pro or a con.Asset Support: CEX often supports a wider range of assets than DEX, which may have limited token offerings due to technical limitations or lack of demand. Overall, the choice between DEX and CEX depends on individual preferences and risk tolerance. Before deciding where to trade, it is important to carefully consider the pros and cons of each platform. Decentralized exchange is a positive step forward Wow, the article is longer than I expected, but I hope you got a better understanding of DEX and CEX after reading it. Again, the implementation of Web3 is an ongoing process and the development of decentralized exchanges is just one aspect of it. As with any new technology, it will take time to iron out all the kinks and ensure a seamless user experience. However, the potential benefits of a decentralized financial system are too great to ignore. As a leader of a tech company like SupremeTech, I believe that the future of finance and many other industries powered by technology lies in the hands of the users. Decentralized exchanges are a step in the right direction for the future of Web3. We should continue to support and develop these platforms to create a more equitable and transparent financial system for all.

Welcome To Chapter 3.0 Of The Web: The Business Model And User Benefits

Hello everyone! My name is Binh, and I am the CEO of SupremeTech. I am excited to welcome you to the second installment of my blockchain technology blog series. If you haven't read it yet, be sure to check out my first blog post, Exploring the Opportunities of Blockchain Development. Today, I want to talk about Web3, a buzzword that you've probably heard a lot about lately. While it's not a finished product yet, Web3 is an ongoing evolution of the internet that we all play a part in building. So, there is no one right answer to what Web3 is, and everyone has their own definition. In this post, I'll share my perspective on Web3 and why I think it's important for the future of the internet. First thing first, what are web 1.0 and 2.0 by the way? 01.1-911x1024 I used to be a web developer when I started my first company. So for me, the easiest definition of this release versioning sound-like evolution is about how to build and how to use it. Web 1.0, also known as the "read-only web" was the first phase of the internet that emerged in the 1990s. During this phase, the internet was primarily used to display static HTML web pages that were created and controlled by a small number of individuals or organizations. Users could only read or view the content that was presented to them, with no ability to interact or contribute to the content. Web 2.0, also known as the "read-write web" emerged in the early 2000s and transformed the internet into a more dynamic and interactive platform. Web 2.0 introduced social media, user-generated content, and collaboration tools that allowed users to contribute, share, and interact with online content. This trend was empowered by the emergence of JavaScript web frameworks such as React.js, Angular, and Vue.js. This also gave rise to popular websites and platforms such as Facebook, Twitter, YouTube, Wikipedia, and many others. So What is Web3? According to Opensea.io, an emerging NFT marketplace website: Web3 is the name given to the concept of a decentralized internet built on blockchain technology. Web3, in essence, puts control and ownership back in the hands of the people using it. The term Web3 has become shorthand for all of the elements that make up this ecosystem, including cryptocurrency, blockchain technology, decentralized finance (known as "DeFi"), NFTs, the metaverse, and decentralized apps ("dApps"). It can be challenging to pinpoint the exact differences between Web3 and Web2 since there aren't any Web3 equivalents to Facebook or Twitter yet. As a user, I believe it's crucial to keep two main concepts in mind: decentralization and ownership. For instance, my Web3 money will be stored in my personal wallet instead of on a server somewhere. Blockchain technology makes it possible for the internet to keep users' personal data, including asset data, in a highly secure, decentralized, and independent manner that prevents anyone but the user from modifying their data. The business model behind Web3 is what makes me think it is crucial for the future The shift from Web 2.0 to Web 3.0 is not just about technology, it's also about a new business model that prioritizes the users' privacy and data ownership. The traditional business model behind Web 2.0 is built around users' attention and the distribution of ads to fit that attention. This means that big companies provide their users with free services in exchange for their personal data, which is then used to target ads to them. However, as the old saying “no free lunch”, are you still comfortable with trading all of your personal information for free service anymore? In fact, Web 2.0 business model has proven to be problematic, with numerous privacy concerns and data breaches that have occurred in recent years. In addition, the Web 2.0 business model has also contributed to a decrease in the overall quality of content on the internet, as companies focus more on generating clickbait and sensational headlines to attract users' attention and generate ad revenue, rather than providing high-quality, informative content. This has led to a proliferation of fake news and misinformation, as well as a general lack of trust in online content. In contrast to the traditional Web 2.0 business model, the emphasis on user privacy and data ownership in Web 3.0, along with the tokenomic mechanism for value creation, has the potential to incentivize the production of higher-quality content and cultivate a more reliable online environment. By putting users back in control of their personal data and enabling them to profit from their own online activity, Web3 encourages the creation of content that is genuine, transparent, and of actual value to users. This model reduces the incentives for sensationalized or clickbait-style content that is prevalent in the current attention-based advertising model. As a result, Web3 has the potential to lead to a more authentic and trustworthy online environment where users can have greater confidence in the content they encounter. If you're interested in learning more about the ideas I discussed in this blog post, I recommend checking out the following resources that I referred to when writing it: Web 2.0Web 3.0Welcome to internet 3.0The Attention EconomyWhat is MetaMask? Just like other evolutions of the world, all the exciting features of Web 3.0 will not be clearly defined in one day. It is a gradual process that requires a lot of innovation and works to be done. I myself also, as a leader of a tech company like SupremeTech, I am committed to learning more and building more technology for the more meaningful future of the internet. Please talk to us if you share a similar idea. Thank you!

Exploring The Opportunities Of Blockchain Development

Good day everyone! My name is Binh, CEO of SupremeTech. We are an exciting outsourcing development company in Da Nang, which is a coastal city in central Vietnam. I'm super passionate about technology and I've been following the evolution of blockchain for quite some time now. I have to say, it's amazing to see how it's transforming the way we do business and shaping the future. I wanted to write this blog post because I believe that blockchain development is an incredibly important topic for companies like SupremeTech, and for anyone who's interested in staying ahead of the curve in this rapidly changing world. And let me tell you, blockchain development is not just about chain development for cryptocurrency or smart contract development - it's so much more! The development of applications on top of these chains, which can be used by end users, requires time, effort, and specialized skills. There's a whole other side to it that involves creating fantastic applications that bring people into the blockchain world and help drive this technology forward. So, if you're interested in learning more about the exciting world of blockchain and how it's shaping the future, read on! The application development part of blockchain development brings more users to the world of blockchain. The challenge lies in making blockchain technology accessible and easy to use for people who may not have a technical background. By building applications that meet their needs and solve real-world problems, companies can encourage more people to adopt blockchain and explore its benefits. One of the key benefits of blockchain is that it provides a secure and decentralized way to store and transfer information. This makes it ideal for a wide range of applications, from financial transactions and supply chain management to secure data storage and voting systems. The potential uses for blockchain are virtually limitless, and this has driven the growing demand for blockchain development services. What to consider apart from your tokenomics? When it comes to developing blockchain-based applications, there are several factors to consider. Firstly, it is important to understand the specific needs and requirements of each project, as well as the target audience. This will inform the design and development process, and help ensure that the end result meets the needs of the users. Another important aspect of blockchain development is scalability. As more and more users adopt blockchain, it is essential that the underlying technology can handle increased demand and maintain its performance. This requires careful planning and consideration of technical specifications, such as the choice of consensus algorithm and the number of nodes in the network. In addition to these technical considerations, it is also important to consider the legal and regulatory environment. Blockchain technology has the potential to disrupt traditional business models and challenge existing laws and regulations. Companies must be aware of these challenges and take a proactive approach to ensure that their solutions comply with the relevant regulations. Finally, it is worth mentioning that blockchain development is a rapidly evolving field, and companies must stay up to date with the latest developments and trends. This may involve investing in training and development for employees, attending conferences and events, and collaborating with other companies in the industry. What are the opportunities there for SupremeTech? In conclusion, as an outsourcing company, there is a growing demand for blockchain development services. By understanding the challenges and considerations involved in building successful blockchain-based solutions, and by investing in the right skills and expertise, companies can capitalize on this opportunity and help bring more users to the world of blockchain. Whether it is through the development of secure financial transactions, supply chain management systems, or decentralized data storage solutions, the potential for blockchain is immense and the opportunities are endless. SupremeTech Technical team is going to attend BlockchainFest 2023 held in Singapore in February. I am so excited to meet blockchain developers and entrepreneurs all around Asia at this event. Tune in and check out new content and projects from SupremeTech about the blockchain world. And if you already had a brilliant idea, do not forget our contact form! 001_blockchain_fest2023-1

Digital Transformation In Business: Adapt To The Digital Age

The impact of digital tools and technology on modern business activities is, without a doubt, significant. The good news is that there are measures businesses can take to boost rewards and minimize risks. This article will describe digital transformation in business, highlight its advantages, and lay out the process that enterprises must follow to prevent disruption. Let’s get started! What is Digital Business Transformation? The following definition is based on the practical demands placed on corporate executives by their investments in digital tools and technology to boost performance. Therefore, digital business transformation is the use of digital technologies and business models to improve performance inside an organization - organizational change. Both obstacles and possibilities are found in organizational changes, which involve people, processes, strategies, structures, and competitive dynamics. And the value through business change would result in speedier innovation, higher productivity, increased process efficiency, and improved customer experiences. Why does Digital Transformation in businesses matter? The idea of why transform is the beginning point for all digital business transformations. Because the transition is difficult, companies must be clear on the reasons for change. Some industries, in fact, face greater urgent pressures than others. According to research, although over half of respondents in the hotel, retail, and media sectors were concerned about going out of business due to digital disruption in the next five years, a similar percentage for respondents in the utilities and oil and gas sectors was less than 30%. A range of factors can drive digital transformation in business. It might come from customers who are more knowledgeable than ever before. Today's consumers are actively looking for better service, lower pricing, and greater levels of quality. Because the transition is difficult, companies must be clear on the reasons for change. Source: Planview New rivals with quality services, better engagement models, or cheaper costs could also serve as motivation for transformation. There are several examples of companies such as Amazon and Google entering new industries and displacing incumbents. However, internal interruption is also possible. Indeed, 65% of respondents in our poll believed that digital disruption would come from within their industry. Emerging technologies that allow new capabilities may also put pressure on change. If embraced first or absorbed and integrated into novel ways, these new technologies might offer areas of competitive distinction. Difference between Digitization, Digitalization, and Digital Transformation Simply defined, digitization is the process of digitizing information. Information visually perceived or written on paper is coded with 0 and 1 and electronically captured as digital information so that computers may readily process it. Digitization makes data processing easier. It's about the need for "sensing," or data collection. Digitalization is the process of using digital technology to increase the extent of automation in operations. Digitalization entails changing supply chain linkages, enhancing workflows and procedures, and using knowledge and information rather than "simply data." It is discussed in relation to the digital tools and competencies required to achieve operational excellence. Difference between digitization, digitalization, and digital transformation Source: NMSConculsting Beyond digitization, digital transformation involves a thorough shift in a company's business strategy. That organization may launch a single project as part of its digitalization attempt, but a project with the purpose of digital transformation will result in change throughout all departments. Digital transformation is defined as the new application of digital technology to advance corporate strategy. It is about using digital technology to empower people, improve processes, and automate systems in order to drastically realign the organization's business performance. Want to create something new but don't know where to start? ESTIM can assist you in quickly creating a new application. Unlocking the "How" of Digital Business Transformation Step 1: The matters of leaders Because technology is a means to an end, it is all about leaders, leadership, and people. Those executives must comprehend how technology will affect their organizations; how to truly consider a 24x7 link to all of their goods, customers, assets, and people; and how all of this will alter the competitive environment. Leaders will need to create their own vision, convey it internally, beginning with their change agents, and embark on the path. And it is critical to recognize that there is no single approach to digital transformation in business. Step 2: Drive culture transformation by implementing effective change management As the term "Industry 4.0" implies, what is happening in the industry today is nothing short of a revolution. A revolution necessitates a cultural shift throughout the company. This idea of becoming a "digital" firm will inform and transform how a company makes choices, engages consumers, controls its supply chain, innovates, produces, manufactures, and so on. Step 3: Connect customers, products, assets, and people Organizations must comprehend that, unlike in the past, the product they supply to clients will now be connected to their organization 24x7. This will allow them to understand what is happening with that product in terms of which features are being used, how the product is functioning, and much more. Furthermore, enterprises may connect to their customers and their customers' environments 24x7, not just through customer systems but also through social listening or IoT. Connections to all assets in the production environment, from the supply chain to the field, as well as employees themselves, are also required. All of these things are simultaneously connected in some way. Connections to all assets in the production environment, from the supply chain to the field, as well as employees themselves, are also required Source: Tweak Your Biz Step 4: Implement a data culture Connecting all of the above—products, customers, assets, and people—will result in massive volumes of data. As a result, you want a platform, or business station digital solutions, that allows you to securely ingest, aggregate, cleanse, and store data, as well as mesh it with other sources of structured and unstructured data in order to execute analytics on it. The possibility to remove technical dependencies and let data scientists conduct data science will then be available, allowing organizations to gain insights fast and simply. Step 5: Try things and fail fast In the current digital era, experimentation occurs in cycles that are at least monthly, so now is the "learn quickly" or "fail fast" age. Businesses must identify the use case, obtain the data, comprehend its contents, obtain insights and intelligence, learn from it, and act on it. If it doesn't work, go on to the next cycle and the use case. If it functions, learn how to replicate it or improve upon it. Due to the rapid pace of change in the digital age, these experimental, brief cycles of transformation are extremely important. It ultimately comes down to either disrupting or embracing early and staying ahead of the curve. In conclusion Digital transformation in business is a broad term that encompasses a wide range of components that, when put together, define how an organization handles interactions with customers and clients, how it uses internal tools and controls employee interactions, and eventually, how this new digital framework is supported technically. However, the financial aspect isn't the fundamental obstacle for any organization going through a digital transition. The change eventually lowers operating expenses if done correctly. Instead, the cultural transformation will continue to be the primary force behind digital transformation in business, from utilizing new technologies to developing a completely different way of communicating between management and staff. If you are planning to take your business to the next level with the employment of digital transformation in business, don’t hesitate to contact us today. With years in working with clients in different sectors, SupremeTech will understand your specific needs and create the best solution for your own business!