ODOCO coworking space

ODOCO coworking space

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How Blockchain would help coworking space owners?

“The blockchain is an incorruptible digital ledger of economic transactions that can be programmed to record not just financial transactions but virtually everything of value.” Don & Alex Tapscott, authors Blockchain Revolution (2016)

In simple words, blockchain is the new and complicated technology that helps you disturb but not copy the information digitally present in the system. This technology was originally designed for Cryptocurrency such as Bitcoin, ethereum etc. Now, the tech community is working on the other potential uses of blockchain.

The tech community believes that the potential in blockchain is beyond cryptocurrency and it should come out of the cyberspace to the real world. In blockchain, the public information is stored in a decentralized way but, don’t worry! It is virtually impossible to hack due to crypto technology and it gives permission to only those who have access to the information. Blockchain can be potentially used by the coworking space operators as they can manage coworking memberships through it and it can also give digital representation through more secure and cost efficient system.

Some of the ways coworking operators can use blockchain technology and make their coworking spaces more efficient are:

COWORKING AGREEMENTS-

Most of the coworking space operators use either paper form agreement or electronic form, i.e, emails. Now through blockchain they can create a system of Smart Contracts which gives them the ability to automatically execute the terms of agreement when the conditions are not met. It also gives the ability of collecting any mode of payment which is automatically initiated by linking the bank accounts. This saves a lot of time of the finance head and accounting team who have to issue memos, bills invoice and manage cash flows.The transactions are automatically and officially recorded.

COWORKING SECURITY-

Usually for security purpose the coworking operators require a lot of documents in paper form. So to overcome this problem of excess documentation, blockchain comes in use. As blockchain provides an easy and secure way to help on the security basis. As all the coworking members provide their patrons with some identity card which gives them access to work in their coworking spaces, blockchain helps by providing all the identities and documents of the coworkers digitally present in one security code, which saves a lot of time.

DATA ANALYSIS-

Blockchain helps coworking operators in easy collection of the data and records all types of payments and receipts which helps in decision making capability of coworking operators by using appropriate tools of analysis.

DUPLICATION-

The coworking operators no longer have to duplicate the documents as once the agreement document and all the formalities have been done and saved in the blockchain system, the shared office space provider doesn't have to make a copy of it and keep it. It will be more secure in the system.

To conclude, the best way we could implement all these point is by educating, instructing and most importantly collaborating. Implementing a blockchain technology is not that easy as it requires a whole team and it starts with the market not individually. So it’ll be easier for the workspace provider to use it when this technology reaches to real estate market or to the government who handles huge public data.

Neutrino workspace is kind of a blockchain coworking space which aims to provide an inspiring collaborative and productive environment to build the blockchain projects of the future.

Visit www.odoco.co

 

Just before you get too far

To keep the experience awesome for our users, we have a set of standards which venues must meet:

RELIABLE WIFI
COMFORTABLE & BRIGHT
MEETING SPACE
ON-SITE ADMINISTRATOR
FLEXIBLE CANCELLATION

Your venue's primary business must be the renting of desks, meeting rooms, and private offices.