Ron G Jul/ 22/ 2020 | 0
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In today’s blog and video, I’m gonna go over a couple of questions relating to supply chain solutions the Vechain and working in the industry so I’ve got a couple of questions from you.
The first question that I have us from Anthony. This is really a good question and I run into this every time I pitch a blockchain solution or talk blockchain with some of my customers. Anthony says “Does Vechain Technology solve some of the issues you’ve come across? When consulting in the industry? Are you simply a fan of supply chain integration with watching?
So, the first part of the question is does it solve issues when you come across like consulting. Does it help some of our customers in the industry? I mentioned this before with my other videos. There’re 2 types of purchasers. There are the early adopters and the ones that are mandated forced to kind switch over to something because there’s end-of-life. They know that they need to get into it or else, it won’t be supported so that’s the way I look at it, and when we pitch these things the majority of that like the first question a lot of people have or our customers their thought process well.
How this gonna benefit me? How much does it cost is probably the first thing and how will it disrupt our process that we’re currently running because over the years they filter process, the sequence of procedures and they’re running smooth and fast unless it’s going to benefit them and they can see you. Know a quick return on investments. They implement some of blockchain technology solution and that can solve one of their problems and have a fast ROI maybe one year then great.
To answer another question that someone had is that relates to this how is this different from SAP or working in the supply chain with a public blockchain. The main differences when you have an SAP like a warehouse management system or an ERP system that centralized. It basically it’s a database that is within its own environment and that is only accessible within its headquarters or its sub-branches. Very rare that you have a WMS or a supply chain solution like SAP or a high jump or Manhattan. That goes and reaches to an extent to your other customers.
In order to facilitate that you would need a lot of money because of an SAP solution. Let’s say 200 seats or whatever 200 like an enterprise that maybe has 400 employees might cost you 3-58 million. Plus maintenance. There’s a big cost associated with that. Also, you know your seats, your licenses, your maintenance, your upgrade. It’s very expensive. It’s not just expensive on that side but also relearning something new in SAP and how does it. Let’s say you’ve got something like syntax or you got an ace 400 system or you have a legacy system. How can we integrate SAP to come into this system and that’s the same thing when it comes to blockchain.
Well, we have our current SAP system or we have a current Highjump or Manhattan system. How can you integrate, Vechain blockchain system into our offerings because the majority these users are gonna be using their application they’re not gonna want to log into three, four different types of servers or have multiple logins like further RF guns or users that are on the floor. They want to log into something typically one thing and verify all transactions or do everything from that one interface and that’s it.
When we go to pitch a solution because we don’t work with a lot of early adopters that kind of clients. We have clients that are in the supply chain but they are more contact us for the consulting Wireless implementations software etc so with Deloitte’s team DNV GL and PWC they have more reach so they have those early adopters those new companies that want to stay ahead of the game not kind of the followers. They want to be the leaders of being the first to adopt blockchain technologies etc. They have more reach. I said, you need a lot of marketing to get blockchain out there and the only companies that are gonna contact us. Are those early adopters and we don’t get a lot of the early adopters. So, we have a different type of clientele unless we’re pitching it and this is great with envy chains.
Systems are like they have PWC. They have PWC they have Deloitte, they have DNV GL to pitch all those to do like go to the market to get out there and go to the trade shows or conferences and kind of talk about what’s coming up in new technology and so on.
IDM is huge in that I remember going to like IBM conferences. Just on RFID when RFID first came out. That was a big buzzword and I’d go to once a month. I’d fly to us for lecturing on RFID etc. and RFID took a quite a while so we might be in the long run for those of you who are in China to the moon for that price to go from 0.004 to $2 with everything. It really depends on mass adoption. Part of this game is educating the people out there on Blockchain technology solutions especially in enterprises.
The second part of this is simply a fan of supply chain integration with blockchain. I’m not a fan at all like it’s applied I’ve been doing this and run-in a company for a while. I’m looking at exiting and kind of seven to retire and just taking it easy. Not to say that I’m really well off but I’m comfortable. I’ve worked hard and I’ve had multiple corporations. I’m looking at relaxing taking and easy and doing stuff. Some people always ask me how’s business.
When you do something over and over. Just need something, this pays the bills and more. It’s great, you get the travel get to write off a lot of expenses. Enjoy, nice vacations, like reward yourself. In different ways or hate. In supply chain with blockchain. I’m interested in that part. Not supply chain solutions in general but with blockchain.
I’m curious to see how it transforms everything in the supply chain because with blockchain it’s public. Private blockchain like there’s no point. It just means it will run a centralized system with the public blockchain. It’s interesting especially with the APAC provenance stuff that David is doing. It’s interesting because you integrate payment solutions into a public blockchain which could be cool. It’s different. It’s opening up the eyes of cash flow and net 30, net 60.
David said it’s 99% of the customers. If you go to a meeting and talk about crypto or exchanges our token you’ll probably turn them off and they’ll be what all right. That’s the thing and until they like. You and I like all of my viewers here. We know about exchanges in token systems and Ethereum and blockchain and centralized in public. If you talk to the majority of people out there and enterprise solutions and you’re trying to pitch them something they’re gonna be. What is this guy talking about? They’re probably getting out of here.
Until Mass adoption comes. I think that’s might take a year but it really depends on everyone’s involvement and that’s the good thing about like IBM because IBM is doing it Deloitte’s, PWC like they’re educating everyone conferences and as time goes on it’s gonna be like the internet of things. Right now, we are in the future trillion-dollar market that’s coming up and it’s blockchain enterprise solutions whether it’s decentralized finance supply chain solutions traceability tracking especially with colvett and everything that happens. People want to know more about where their food is coming from whereas a manufactured like the mystery thing.
It is pretty cool because we did a solution on that many years ago. Kind of similar to my story where the customer wanted to take their horn of where the product how was manufactured pretty much that it didn’t come from slavery kids working least like sweat factory markets that were getting paid like 50 cents and they want to really took them he’ll earn about the fabrics that we’re using and the appointment like there it was all employee in Canada etc.
That was many years ago so anyways I’m gonna get to the next question is dial in Lakeland says; should I or should I not purchase an Xnote. This really depends on your time frame so, if you’re in for the short term. I would say no because you could probably purchase a whole bunch of that unless you care about voting rights. So, you could get some perks about I to think of voting rates and then early access to stuff on the exchanges that come out early. When I say or your time frame because VTO our Vitor is not burning a lot.
You could probably buy a chunk of ether and kind of predict a future that it gets used more. You could always sell it later. That really depends on how much your Xnote is going to just go to the marketplace check. How much an Xnote is going for whether it’s thunder or whatever but you can see like just check weekly you’ll see like X nodes as thunder X nodes go for cheap sometimes and you just have to luck out and get there but if you’re for the long term I would say 5, 10 years and you have a lot of faith in the chain that it’s gonna go somewhere like and you’re willing to horrible because you have the potential of selling that let’s say it’s a thunder X node. You can sell that and yes as the token as VTHOR gets higher at price then you’re generating more passive income so this answers your second question is you know passive income isn’t that much because I think if you spend $100,000 U.S. Probably get a $202 dollars the U.S which the return isn’t that much. It’s very low you may as well just go to the other exchanges like crypto.com or bag Ethereum and get the validator nodes and etc or go on crypto.com and stake for like six to eight percent.
You get more positive income there but it’s just a matter of how long you’re willing to stay in the market and the passive income. The X Node right now is producing a lot but if you look in the long term and bag and hold then maybe it will be. It’s kind of hard question to answer.
The next question is how is it working. This is a question that I got in Reddit where I didn’t and I got on YouTube so it’s how is it working in the supply chain and what kind of salary or job can I get so when I did consult for this one company in supply chain solutions. You’ve got hardware and you got software so I dealt with the engineering the hardware, the wireless site surveys, the implementations, the customer interfacing, the pre-sales post-sales support now the part that where I found made you the most money in throughout my whole career is something that deals with customer interfacing because when you have the confidence to talk with a customer to translate a technology solution into a business solution.
You make more money because you could hire programmers anywhere. Unless you’re like the top high level. Then, you’re probably getting a lot of money. Then, you’re probably more of a consulting because in supply tracing loose solutions, we used to have D consulting so, charge a thousand a day but their contract let’s say this is we’re talking about full time.
When I look at it. I’d say you get more reward. Let’s say you’re an extrovert if you’re not sure for any like talking to people then, I would say get something into more of like a PS which they call it a professional service person or a TC or technical consultant or a business solution or development manager. Kind OF Sarah Naba out there, she’s worked in her career and became a director C level whatever and now she kind of works with customers and that is where you make the most money so like programmers you might be able to make like 60.
Your database programmer that does Java development. You work with sequel databases. You might start off. No experience, you probably maybe like 40-50 thousand three to five years he might make 6070 so when I first started I was like very low like $30,000 isn’t fiber optics wireless 802 11 wirelessly and stuff supply chain solutions in manufacturing for banks industries that we do paper pulp like dom tarr like big companies that like dom tarr paper companies. So, I got into my career started there and the main thing like what I’d recommend is when you start with this company.
The company is gonna want to hear that you’re willing to stay longer so in your interview, you pretty much want to say well I’m looking to grow within a company and stay here for the long run and also as long as you know it’s a win-win solution so, the company provides like me with formal education. I’m always learning because I like to be challenged so, that’s one thing that you can kind of say and that’s gonna kind of put more confidence on that owner to hire you because it’s very difficult as a business owner to kind of hire and fire or has people come and go because when you train someone for a year and they leave on you.
It’s very difficult just to get another person in-process work with that of another engineer to learn their customer base learn the technology because technology whether it’s database administration database programming Java programming. That is all standard but to learn someone’s unique system or database or WMS or ERP system very different so they want to see there in the long run for that job. What I say is like because I’m more of an extrovert. I like speaking with people so, I say the majority of your money to be made is kind of like in a pre-sales role whether it’s pre-sales technical or a solution design consultant because like I mentioned you’re communing with communicating with a customer and you can transform a technology solution into a business solution and you can get along with that customer so it just shows a lot of like self-confidence. Great customer service and also building that bottom line and that brand and reputation because doing customer delivery it’s huge. You know the experience and the referrals and the feedback from that sea love.
I was saying great. Your team was great they worked with our team very well. We did a smooth implementation and we did it in weeks. That’s a big thing so I would recommend if you’re an extrovert like do that but the main thing is getting experience try and get as much certification as you can and have that company pay for it so in your interview just say well, I want to grow with a company but the main thing is I want to be constantly learning. That’s doing you know a couple of things it’s making you more marketable increasing the value for you to get 60 to 100 grand etc and then you’re just learning a lot more getting certified me being more marketable.
Your salaries, if you’re in pre-sales let’s say your pre-sales consultant or a solution design consultant. I was getting offers like 160 maybe 150 field techs or whatever like hardware implementations like RFID stuff probably about 6 figures 80,000 to 100,000 then there’s on-call stuff you probably get an extra thousand bucks or 2,000 bucks a month.
Then, you get into like c-level director positions but here’s the thing when you’re working as a consultant or you work with the big five firms or a big firm. If they’re offering you something like 100,000 or 80,000. Look at the fine print like Assam says; what’s the work/life balance like? Because I know people who have worked at them, they’re making okay money like 100,000 but they’re not working 9 to 5 they’re working like 9-10. There’s no work-life balance so, instead of working like a 7.5 hour day. They’re working like 15 hours a day. What are you really making? Are you making 100,000? I know you’re working for 50,000. That’s one thing you have to consider and as you get more experienced you could also negotiate like your shares coming in instead of 3 weeks. You can say; well, if you really want me like if you know that you have the upper hand and they really want. I’ve gone into like positions. I want 6 weeks paid vacation and I want a bonus at this rate, commission, and also shares.
You can negotiate all that as you get more experienced. I talked a little too much about that.
Next question is, Do you think price for VET would be a dollar in 2024? Like I said there are so many factors like that could come earlier, it could come later. It depends on this bull run when we can get the bull run and when is pandemic can be over and couldn’t consumer confidence. This could come earlier. I feel pretty positive that we’ll get there because by then, we’ll have some kind of cure or antibody or vaccine for what’s going on. Maybe within 6-8 months and then it’s gonna take 6 to 1 year to get more consumer confidence people spending. More people the cryptocurrency market evolving in more adoption blockchain technology in enterprises gaining more acceptance. I have a strong belief in that.
Our last one is Jay talks about watching my videos while watching Michael Jordan. You guys know I’m a big basketball fan. People always had this controversial conversation like; you know Lebron James and MJ and it’s like a man can’t compare. The browning and James is the goat greatest of all time.