V. Competitive Analysis

Competitor 1
Competitor 1 is an IT vendor primarily known for its database business. It launched a platform a few years back, which is the fundamental blockchain platform infrastructure stack, one of which runs as a cloud service, and the other is for on-premises or hybrid situations. Based on Hyperledger Fabric 1.4, the platform provides fully managed, enterprise-grade, secure, and permissioned blockchain platforms. It also provides many plug-and-play components, an API gateway, a low-code developer framework, and a low-code smart contract developer framework.

Competitor 2
Competitor 2 is a blockchain development company that focuses on building a cryptographic ledger system for businesses providing financial services. Based in the US, the company deploys its blockchain-based tools to help banks, stock exchanges, and credit card companies to secure, trade, and maintain financial assets. The company created a sequence ledger-as-a-service that works with the private ledger and public networks for safe token transactions. It can be put to use in mobile wallets, ride-sharing apps, and crypto exchange platforms. Its other services consist of the development of blockchain, cryptography, payment systems, distributed system, ledger technology, etc.

Competitor 3
Competitor 3 works with clients worldwide in order to create innovative blockchain solutions and products. It also helps them to make use of an existing blockchain solution to expand their businesses and lower expenses. It creates new business tools for clients based on revolutionary decentralized networks that can change businesses for good. Along with consulting companies on using blockchain solutions, they also conduct educational workshops, offer research & development services, build Dapps, smart contracts, etc.  

Strengths

• Enterprise blockchain solutions will help businesses streamline their operations and automate tasks and processes with increased security, leading to further cost savings.
• Customization as per the requirements of the clients.
• The Company will help businesses to avoid fraud and corruption, as well as increase trust between parties.
• With enterprise blockchain solutions, businesses can have complete control over their data.

Weakness

• Being new to the industry could lead to a significant lag in establishing goodwill and trust.

Opportunities

• The global enterprise blockchain market growth can be attributed to the growing acceptance of blockchain technology by businesses and organizations across various industries.
• The use of blockchain technology by businesses and organizations to enhance their operations and provide more secure and efficient solutions is also fuelling market growth.

Threats

• Competitors could look to copy the company’s business model.