Exploring the Potential of Blockchain Technology in the Business Sector

The Director of Business Products at Mysten Labs recently gave an interview, sharing her views on how Blockchain technology can provide business services to enterprises and why the Sui Blockchain is particularly suitable for these use cases.

As the head of the commercial product team at Mysten Labs, she stated that commerce encompasses all aspects, involving various fields such as gaming, retail, loyalty, travel, and ticketing. She has been exploring the Blockchain field for six years, initially motivated by the desire to work in an interesting, complex, and challenging technology domain.

She believes that blockchain can solve the clear issues of asset ownership and digital agency rights. In traditional Web2, user data and online behavior belong to the companies that interact with them. Blockchain has disrupted all of this, allowing users' transactions, assets, and outcomes to belong to the users themselves.

She illustrated how to guide Web2 companies to think innovatively about blockchain solutions by using the sales funnel as an example. She pointed out that customer acquisition at the top of the funnel is one of the biggest challenges faced by small businesses. However, the current internet environment has made this challenge even more daunting, primarily due to privacy issues.

The practice of excessively collecting user data for advertising during the Web2 era has led to the introduction of strict privacy protection regulations. This, in turn, has reduced the quality of customer data available to businesses. Blockchain technology, particularly zero-knowledge proofs, can contribute to the data ecosystem without revealing private information.

She emphasized that the speed and scalability of the Sui Blockchain make it very suitable for utilizing zero-knowledge technologies to provide services for real-time internet queries. In addition, Sui can offer dynamic and composable NFTs at internet speeds and low costs, bringing new possibilities to loyalty programs.

For the future of Sui, she is most excited about zkLogin technology. This technology allows users to access the Blockchain using common login methods (such as email) without needing to remember complex keys. She believes this is an important step in bringing more users into the world of Blockchain.

Overall, she believes that Sui represents a new era of Blockchain, which could become an indispensable part of the enterprise technology stack in the future, much like the position of cloud computing today. As more people adopt this technology, we will see more innovative use cases emerge.