A favorite aspect of my consulting practice is when I receive an invitation to sit in a room with entrepreneurs starting businesses that they believe will produce an iPhone app, or even that they’ll become the next Google. I had just such an opportunity at the Venture Summit, Silicon Valley hosted by Always On. What I saw was “bling” and more!
Bling Nation is a start up company with a remarkable smart technology that could replace credit and debit cards with cell phones. The solution eliminates paper in the purchase process by providing cell-phone-toting consumers with a digital receipt, sent to their phones. How many times a day do we buy something and get handed a piece of paper that we immediately toss into the trash? For that reason alone I like this sustainable technology solution.
The Bling Nation’s cell phone procurement system also offers security advantages against plastic credit cards. Management claims that, on average, a person doesn’t report a lost credit card for eight hours. But for a phone, the average is just two hours. Additional security is provided through a PIN that is required to finalize a purchase. And if someone does acquire your Bling Nation enabled phone and begins to make “non-traditional” purchases in terms of location or types of purchases then it will automatically question the purchase by requesting additional authorization. IF the user fails to present the correct authorization and payment application can’t be completed. Also, unlike a credit card with all your data printed on it, the information on a Bling Nation enabled phone is only readable by a store register, not prying eyes.
What is strategically significant about an early stage company like Bling Nation is its vision for realizing values (reduction of wastes and emission tied to a paper-based retail transactions) in its pursuit of value (creating a digital alternative to plastic credit/debit cards).
Bling Nation’s solution is a win/win, while also being a price-competitive model. It’s sustainable solutions like these that give me such optimism for a future where going green will restore jobs, the economy and our environment.
Bill Roth posts facts and data on companies growing green revenues, and on a global economy where sustainability is also the price competitive solution, at his website EARTH 2017.