Anyone looking to get into the exciting world of cryptocurrency needs to know the ins and outs of blockchain technology. For most, enlisting the help of a skilled blockchain consultant is a crucial part of navigating the process and building their portfolio.
Blockchain consulting encompasses a range of different services, and requires a skillset that is rarely seen in any other type of consulting work. Not only does a blockchain consultant need superior business skills, but there must also be an advanced level of technical expertise to do the job effectively.
The ability to cut across different domains is what makes blockchain consulting unique, and blockchain consultants such a valuable asset. Here is some information on the kinds of services you can expect from an experienced blockchain consultant.
One critical element of blockchain consulting deals with analyzing the marketplace for current industry trends and market movements. With such a relatively new and unknown commodity, it’s imperative to have someone you can trust to compile the latest information and help point you in the right direction.
Blockchain Startup Strategy
Navigating the startup process, from the initial idea to full implementation, requires a range of skills and is another hallmark of blockchain consulting. Most blockchain startups encounter common hurdles that can prevent them from gaining momentum, but a qualified blockchain consultant can help.
Investing in various blockchain assets can be one of the most confusing activities you’ll ever encounter if you don’t have industry experience and a deep knowledge of how the market ebbs and flows. An effective blockchain consultant should be well versed in all facets of what makes a blockchain successful and what isn’t worth your time.
Business Development Services
This service takes the previous ones a few steps further by implementing business processes and helping clients plug inefficiencies that could cause problems in the future. By developing a relevant target market, analyzing past cases and using sound business practices combined with technology know-how, your blockchain consultant will make a big difference in the success of your business.
The ICO Process
Reputable blockchain consulting services should also include help navigating the ICO process. When a new business venture needs to raise funds to get off the ground, it’s important to sell your vision in a way that will motivate others to buy in, and a successful Initial Coin Offering can do just that.
Compliance and Regulatory Services
Regulation and compliance are two components that can easily be missed, or at least mishandled, without a knowledgeable consultant in your corner. In a fast-moving and ever-changing industry like blockchain and cryptocurrencies, it’s important to be up to date on all the current regulatory processes and compliant in every aspect of your business.
Notable Success Stories
A couple of real-life examples of how blockchain consulting helped new ventures explode onto the scene are MobileGo and Monster Byte. MobileGo is a mobile site by GameCredits, which launched the very first mobile store that utilizes cryptocurrencies. The MobileGo ICO raised $4 million on the first day alone, and then continued on to raise a massive $53 million.
Monster Byte, a gambling platform using cryptocurrency where bettors can gamble on sports or play classic games like Black Jack and roulette, was another big ICO success. In their pre-sale, they sold out of 2.5 million tokens in just five minutes, then sold more than 5 million tokens during the ICO.
With these kinds of success stories, it’s easy to see why so many people are eager to get into the blockchain industry. Just keep in mind that having a professional blockchain consultant to help you navigate the water is critical to your success.
If you’re eager to get into this growing industry, check our data-driven list of blockchain solutions to understand the ecosystem, and reach out to us to recommend the blockchain consultant that has the right experience and expertise to work with you:
Cem has been the principal analyst at AIMultiple since 2017. AIMultiple informs hundreds of thousands of businesses (as per similarWeb) including 60% of Fortune 500 every month.
Cem's work has been cited by leading global publications including Business Insider, Forbes, Washington Post, global firms like Deloitte, HPE, NGOs like World Economic Forum and supranational organizations like European Commission. You can see more reputable companies and media that referenced AIMultiple.
Throughout his career, Cem served as a tech consultant, tech buyer and tech entrepreneur. He advised businesses on their enterprise software, automation, cloud, AI / ML and other technology related decisions at McKinsey & Company and Altman Solon for more than a decade. He also published a McKinsey report on digitalization.
He led technology strategy and procurement of a telco while reporting to the CEO. He has also led commercial growth of deep tech company Hypatos that reached a 7 digit annual recurring revenue and a 9 digit valuation from 0 within 2 years. Cem's work in Hypatos was covered by leading technology publications like TechCrunch and Business Insider.
Cem regularly speaks at international technology conferences. He graduated from Bogazici University as a computer engineer and holds an MBA from Columbia Business School.
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