This article was published in the magazine “Monaco Economie” – n°125
“Phoenix Consulting Monaco, a leading consultancy firm in the Principality, finds most of the time that the notions of Blockchain and Cryptocurrencies are directly associated with distrust or even mistrust. Indeed, between often negative and spectacular news, regulation in genesis and difficulty in the theoretical understanding of this technology, many players in the Principality don’t yet see the opportunities.
Monaco nevertheless has some early adopters who have dared to take this gamble. To cite just one example among many, AS Monaco has created its NFT (Non-Fungible Token) the Fan Tokens, with the aim of strengthening loyalty among supporters.
Marketing has thus been revolutionised by Blockchain technology. Indeed, NFTs offer an almost unlimited field of possibilities to offer consumers new customers experiences.
However, blockchain technology is not just about creating NFTs. Indeed, the applications are much broader and disrupt several other activities. The comparative study of French an Monegasque start-ups offering solutions around the blockchain, has enable to isolate 4 major sectors impacted by the innovation :
- Compliance
- Investment
- Supply chain
- Services
Consequently, and as an example, the Principality’s private banks and asset management companies would have much to gain by investing in Blockchain projects to optimize their compliance function: secure exchange of reliable information, data storage and historization, etc.
