Blockchain technology (Blocktech) has completely revolutionized the traditional business models. Since the Bitcoin white paper was released on the internet, it signaled the beginning of a new era, an age where this groundbreaking technology will transform not just how we do business, but how smooth and seamless our daily transactions will be.
Blockchain technology, especially through cryptocurrencies like Bitcoin, has gone on to become mainstream, but the underlying technology behind cryptocurrencies; blockchain has received lesser attention. If the world can really know the power of this technology and what it can do, then the world will sit up and pay more attention.
For a company like RedFOX Labs, that’s the mission: revealing the power of blockchain technology to the world by accelerating its adoption, especially in Southeast Asia and every other part of the world.
Redfox is unarguably the first Blockchain venture company in the whole of Southeast Asia, according to information on their website: they innovate leveraging on the power of blockchain technology to build market leaders and leading companies in emerging markets.
Founded by Glen Pearce & Ben Fairbank. Redfox is a company that’s set its sight on disrupting current business models by applying the power of decentralized technology and leveraging on its advantage. Being a startup itself, Redfox also helps startups startup (no pun intended). Redfox is basically an incubator company that identifies businesses with great potentials and position them to become market leaders.
So, in simple terms what RedFOX Labs does is build new companies that has most of its services based on the blockchain, incubate that company (by providing resources, support, expertise and experience guidance and sometimes office space), and at the end of the day set the business up so strong that it becomes market leaders in any industry it operates.
The Redfox Labs incubator model is one of the finest in the industry. They build new companies and services by refining, customizing and finally integrating open-source blockchain codes to build ready to use and powerful blockchain-based companies that are market-ready and strong enough to become a powerful competition in any industry.
What They Do At Redfox Labs
Redfox Labs basically do these three unique things differently – their unique business model to create market-leading applications and companies.
- They Innovate
There is this popular quote “innovation is the mother of invention.” Redfox Labs takes the quote quite literally by utilizing the open-source blockchain technology platform “Komodo” to build powerful blockchain apps that are strong enough to become profitable companies.
So the team thinks of new ideas, groundbreaking ideas and innovations, then they refine and customize the open-source blockchain software to fit this new business model, Komodo has the tools to help you do all, you just need to know what you’re looking for.
- They Incubate
According to the Redfox Labs official website, they are a startup that builds startups – interesting! Using blockchain technology, they can reach a larger portion of the market that couldn’t be reached by the current internet economy.
Their incubator model is basically about creating new ventures: by identifying promising business models and see how they can benefit from the features of blockchain. Then they build on this, launch the business and scale, so it takes advantage of new, vibrant markets.
Operating the open-ended incubation strategy, the end is already in sight from the start. According to information on the official website, they maintain an interest in any company they incubate as they focus on the company’s long-term success – an open-ended incubation model at its finest.
Redfox Labs target mostly new and emerging markets: the company is based in Vietnam and has its sight set on the emerging technology market of Southeast Asia which is a young, tech-inclined, and unsurprisingly rich population. After taking over this market, their companies will have a good base to take on the larger corporations in the world.
The Technology Used By Redfox Labs
Redfox Labs builds these innovative companies by using the most effective open-source blockchain platform in the world, the only open-source blockchain platform that’s been accredited with the Advanced Technology Partnership by Amazon Web Services.
But that isn’t the only reason why RedFOX Labs uses the Komodo platform; these are the other reasons:
Komodo operates a multi-chain blockchain architecture which is known to be more scalable than the traditional single chain blockchain architecture. With Komodo, you get on-demand scalability, which can help your company predict the performance of your blockchain application in the future.
With Komodo, you can build customized solutions for any use case or any business model. You can build any application from the ground up using this open source technology and also eliminates any limitations like that of scalability, interoperability, and even security.
Applications built on the Komodo platform are highly robust and can integrate with any existing technology and can also integrate with new tech not available yet, that’s one reason why it is the best open-source blockchain technology out there.
The Komodo platform offers some of the best and robust codes of any open-source platform. The platform takes security very seriously with its delayed proof of work consensus algorithm; this mechanism leverages not he Bitcoin network to protect platforms but on it against 51% of attacks, impressive!
Wrapping It Up
Redfox Consulting is a service offered by Redfox Lab’s whose expertise goes well beyond blockchain. This company offers diverse services through its large network of industry professionals in different fields.
Blockchain, however, is the company’s number one priority, as building, incubating and scaling industry-leading companies is where the company excels gloriously. Redfox Consulting also offers services in customer experience by mapping customer touchpoints and looking for better ways to serve your customers and make more profit doing so.
The company is also in the business of cultural change management, especially in the business environment. People are the lifeblood of any economy, people run the show, if you know how to align the goals of your company with that of the people working with you, your company will be a force, Redfox knows that, and they will help you achieve a shift in your company culture.
Great businesses are created not by amassing the largest capital or knowing people in high places; great businesses are built through innovation powered by a bright-minded team and effective tools, Redfox Labs and Redfox Consulting is an embodiment of these features, that’s why this company will hold sway in its industry for a long time.