As much as attracts people’s attention, the word “blockchain” sometimes repeals people. I learned that during a networking event this week. Either I had amazing results or people just started saying that Bitcoin is a scam. Well, let me just start by saying that Bitcoin and Blockchain are not the same. A simple explanation could be that Bitcoin is to blockchain what email is to internet.
Blockchain is a system that is used by Bitcoin, an application. IBL uses this technology and looks to implement it in everyday operations through many projects. Including the one I have been assigned to, called GINAR. It is a random number generator used to provide fairness in games that require, well, randomness. For example, online poker; where a lot of people play with the feeling they are being cheated by the host or other players. Besides iGaming and Gambling, this project aims for the Banking sector too as well as Lotteries. To better understand how this project can succeed, I provide a brief analysis:
STRENGTHS
- Pioneers in many fields
- Introducing this technology in different presentations
- Provides fairness and transparency in a field where cheating is abundant
- Strong reputation in the technical matter
WEAKNESSES
- Need for bigger marketing team to extend reach
- Cultural and interspeaker differences
- Unable to link GNAR to more popular interactive games
OPPORTUNITIES
- Generate exposure at poker tournaments
- New technology with high customer interest
- Gaming is an endless and growing industry
THREATS
- Corruption in gambling market from actual host
- Cryptocurrency reputation can affect the company
- Government regulations
Being involved with this company has brought fulfilling experiences. But, so far, the most amazing moment during my time at Ho Chi Minh has been looking at the city’s most impressive buildings from the top of a high-scale penthouse. This, while sharing a conversation with people from France, England and Germany for example. One of them being the owner of every education building in Vietnam. That experience made me realize even more about the opportunities that this rising economy and fascinating country offer.
UF in Vietnam Internship 