Enterprise Legion Management
Updated: Jun 22
Written By: Arjun Patil
Business growth is often assisted by adoption of the latest trends and technologies, as they aim to improve on the traditional systems by eradicating the in-efficiencies that exist in them. We have seen this repeatedly with users' moving from cash transactions to online-based transactions or from physical shopping to doing online. The businesses that resisted these essential changes that introduced convenience for the users were eventually left behind in the race for relevance.
In today's times, Cryptocurrency and its technology are being adopted heavily. According to a Chain analysis report, Cryptocurrency adoption has been increasing over the past couple of years, with over 2300% rise since Q3 of 2019 and by over 881% in 2020.
The automatic utility-driven nature of this technology due to pre-coded and immutable smart contracts can be of immense use for small business as it streamlines the operation and reduces the cost of operation as well.
Utility of Crypto-Tokens On A Business:
Generally, the problem that small businesses encounter is a lack of capital. It eventually leads to hiring less educated staff, using old traditional methods for operation instead of the new technologies and software, going through the hassle of finding good-hearted and long-term investors, etc. All these problems could quickly be sorted out with the adoption of cryptocurrency technology.
If a business has its crypto token, it leads to the following advantages,
· Why Investors When Businesses Have Loyal Users:
The problem with finding an investor is that it is comparatively a tedious process. It involves pitching the business/product to people who don't understand it, to people who have never used it, to the people who don't know the founders of the business and their acumen, to the people who don't know the history of the product/business. This leads to less valuation of the business and eventually less capital to work with.
This issue can be sorted out by making the loyal users the investors of the business, which can quickly be done by launching its crypto token. In exchange for users investing in the token, the users gain monetizable rewards, voting rights, access to special perks, and other benefits which can efficiently be coded into the smart contract. They thus will act as legit investors with shares of the token of the business.
· Automaticity With Smart Contract:
The business could eradicate staff/intermediaries responsible for managing fund transfer/operation records and thus save much overhead cost.
· It is Cheap:
Transfer of funds from one entity to the other generally involves intermediaries that take a percentage based on each transaction. This might be higher for a higher value of funds or international fund transfers. These transactions are also subjected to time investment, which might range from hours to even days, thus delaying the cycle of operations. This can easily be averted by utilisation of native token of the business which can easily converted to FIAT of choice through the exchange.
The operation with Cryptocurrency is easy. However, businesses with a low technical background might find developing Cryptocurrency hard. The process involves finding the suitable blockchain, developing and coding the smart contract, launching the coin, and even marketing it to the end consumers. This might seems a little hard for small businesses.
Enterprise Legion Management (ELM) can act as an intermediary to solve this problem and streamline the operation once and for all. Enterprise Legion Management has developed a system that allows business owners in virtually all industries to "tokenize" their business, thus allowing those tokens to be publicly traded to raise money.
ELM does that successfully for its clients by following 6 step process mentioned in the below picture.
ELM also promises 24X7 client support so that the client can rest assured. In addition, it also helps with other services like the development of NFT and the development of the staking mechanism and will manage the marketing of the token.
Interested clients can learn more about ELM on their website.