Day 348: Blockchain

Yesterday I explained the difference between a currency and an investment… and also asked you to stop taking business advice from people who are good at marketing.

There’s a BIG difference between ‘good at marketing’ and ‘good at business’.

A Bitcoin Conversation:

My Daughter: Dad can I borrow twenty dollars in Bitcoin?

Me: Forty-five dollars and thirteen cents? Why in the world do you need to borrow seventeen dollars and thirty-two cents?

In other news…

When people buy a Toyota SUV they say:

“This will do.”

When people buy a Lamborghini SUV they say:

“ONLY this will do.”

Do your clients say “Only YOU will do” or “This will do”?

Anyhoo…

Your ONE COACHING THING Today Is:

‘Blockchain’

I can’t write about Bitcoin for two days and then not talk about the real needle mover, BLOCKCHAIN.

Let me explain Blockchain for you.

Think of it as a unique database… and what’s most unique is the data is “chained” together.

A great but very loose metaphor is to think of a traditional spreadsheet VS a google doc.

A spreadsheet is designed for one person and a google doc is designed to be used by everyone that has access.

All kinds of data can be stored on Blockchain but it’s most commonly used to track transactions.

In Bitcoins case, their blockchain is a decentralized database that has stored every Bitcoin transaction that’s ever been made.

Maybe giving you some examples might be the easiest way to explain Blockchain and its immense power.

Elections, where the Government is trying to eliminate voter fraud, will be done in a modern way using blockchain in the future.

Each citizen will be given a token and each candidate will have a ‘wallet address’… and to vote you’ll send your token to the wallet address.

All 100% easily traceable and almost impossible to tamper with… results almost instantaneous.

Another example is where it’s being used for ‘Food Trust Blockchain’ to trace the movement of food products on the way to their final destination.

Why?

Over the year’s countless outbreaks of Coli, Salmonella as well as dangerous exposure.

It takes weeks for them to find the cause of the outbreak.

Imagine how much that costs food companies when they need to recall all specific food from specific grocery stores.

Happens all the time and you seldom hear about it.

Using blockchain will give brands the ability to track the specific route from the farm to the grocery store and every stop in between.

If something happens… they’ll easily be able to retrace and find the origin of the issue.

I probably don’t need to explain how impactful this will be for the banking industry.

Imagine how archaic it’ll sound when we look back and realize a cheque deposited on Friday needed to wait until Monday to clear.

Real estate…

The costly and time-consuming process of recording property rights is inefficient and cumbersome at best.

Physical deeds being delivered to a gov’t employee that lead to countless human errors will be a thing of the past and all will be public and available on blockchain.

Companies that have already started using blockchain include Pfizer, Walmart, AIG, Siemens, and many others.

There are some complexities to it but as a decentralized record-keeping system… its potential is almost limitless.

Greater user privacy and security and fewer errors.

I discussed this in-depth on my last podcast, Business Coaching Secrets.

Bottom line… as a Busines Coach I highly recommend you get your head around BLOCKCHAIN and what it will mean to you, and businesses, in the near future.

You heard it here first.

Obsessed with your business coaching success,

Karl Bryan aka King Karl

PS. To get what you want you need to deserve what you want.

PPS. Marriages break up from lack of money… over lack of love X 100.

Business failures lead to destruction, addiction, depression, anxiety, suicides, and unfortunately, far more.

As good business coaches we save marriages, save families, save kids from self-destruction… we save lives!

A true life of purpose.

PPPS. If you’re looking for a proven system to follow for your coaching…. I created business coaching software and high-end step-by-step training to support it…

It’ll teach you ‘How to find any small business owner $100,000 in 45 minutes without them spending an extra dollar on marketing or advertising.’

Imagine finding your annual $12,000 to $50,000 coaching fees BEFORE you started coaching your new clients?!  And a proven coaching system created for you to follow with your new coaching client.

Reply to this post if you want to start following a proven coaching system.

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