Any strong system has building blocks that make it indestructible. An atom is made up of the building blocks protons, neutrons, and electrons that make up the strongest elements inside of matter. Likewise a network model system like Blockchain, the underlying technology in Web3.0, has building blocks inherently built into it, making it indestructible.

Business leaders - CEOs or Entrepreneurs - who want to take a forward thinking approach or want to be early adopters or majorities in the adoption and implementation of Blockchain for their organization must understand the building blocks of Blockchain in order to pioneer any Blockchain innovation and to properly position themselves to do business in the new internet world, Web3.0.

Strong systems that will last are always built around key elements such as trust, community, security, prosperity, among many others. And like any strong system, Blockchain is not different. It possesses similar elements that make it a stronger internet system to do business than what we currently have in the Web2.0 world.

This article focuses on 5 building blocks I believe make a strong use case for why Blockchain will be essential in doing business in the future. This is why business leaders need to start positioning their organizations to make the move to pivot, adapt, change or transform their current business model. Not in any order,

The first is Trust & Transparency. Through decentralization, decentralized autonomous organizations, consensus mechanisms, immutability, among others, monopolies are limited and 3rd parties are eliminated thus increasing safety and promoting unity.
Then we have, Network & Security. Through cryptography and hash functions, decentralized storages and network nodes, blockchain mining, a stronger network and more secure environment is created and established.
Furthermore, we have Community & Collaboration. Through developer contributions, blockchain interoperability, off-chains and side-chains, and even smart contracts, organic growth occurs and scalability is fostered.
Also we have Identity & Reputation. Through self-sovereign identity, data sovereignty, decentralized reputation, among others, users have more control over their own data. As a result, value driven data versus statistical driven data becomes a key driver in decision making.
Finally, we have Assets & Rewards. Through digital currencies and assets, tokens, smart contracts, incentives, NFTs, ICOs, DeFi, among others, a broader group of people can have access to more financial gains and prosperity.

In subsequent articles, we will go into the details of each building block. While some of the individual blockchain protocols listed in each building block are not mutually exclusive to a specific block, overall, we see the benefits of Blockchain in enabling a stronger way of doing business in the Web3.0 world.

As a result, Blockchain technology will inevitably become the status quo for the way many organizations will run in the future. With this in mind, African business leaders need to actively start thinking about the readiness and positioning of their organization in the new world of doing business.