Frequently Asked Questions
The blockchain software technology used by The CX Blockchain Institute implements a distributed ledger of transactions. These transactions are cryptographically secured and exist on multiple servers.
The global blockchain market size is expected to grow from $1.2 billion in 2018 to $23.3 billion by 2023, according to a ReportLinker survey, at a Compound Annual Growth Rate (CAGR) of 80.2%
The CX Blockchain Institute is the worldwide authority focused on fulfilling blockchain for the CX (customer experience) industry. With operational assessments, communication centers of excellence, industry awareness programs and training academies, we simplify blockchain implementations, create well-defined competitive barriers with our certification process, and accelerate path to revenue.
Broadly speaking Blockchain will fundamentally change how we as a society collaborate, govern and conduct transactions. It brings a whole new layer of transparency and trusted and fortified relationships between an enterprise and its buying public. That’s why CX enterprises should invest in the transformative solutions now.
Blockchain solutions are progressively elevating the customer experience. With a positive customer experience, retail and eCommerce businesses, for example, are expected to achieve higher customer loyalty. We predict that retail, ecommerce, healthcare sectors will drive early adoption and heavy investment into CX blockchain.
The Institute is targeting worldwide Business Process Outsourcing (BPOs), call centers and CX teams within the enterprise with its Enhanced CX with Blockchain solutions. This segment of the business community has largely been ignored by the recent blockchain technology initiatives. Since the Institute founders are veterans in the BPO, call center and overall CX industry, they bring domain expertise to the implementations within the call center firewall.
From a technology perspective, 84% of executives said their companies were involved with blockchain, according to a PwC survey of 600 “blockchain-savvy” execs. However, that didn’t include the call center executives or BPO leaders. Actually, few BPOs or call center executives are really talking about blockchain in the CX or contact center space, and that might be a mistake. Contact centers are focused on AI or RPA implementations right now which, when combined with blockchain, provide them with an innovative, leading-edge.
There are three ways in which The Institute differentiates itself from other Blockchain-related efforts.
1. Most of the Blockchain efforts deployed by consultants including Deloitte, PwC, KPMG, EY, Accenture and IBM. They are implementing the technology for multi-billion dollar companies and largely in the supply chain arena, whether product supply chain or a financial transactional supply chain. The Institute opens up blockchain to the mid-market BPOs by seamlessly integrating and fortifying trust and customer communications.
2. Because it offers low cost entry into Blockchain implementations, The CX Blockchain Institute is more practical to implement for call centers and BPOs than hiring technology consultants. In addition, the solution is designed specifically for call center leadership by call center industry veterans.
3. The Institute is dedicated to fulfilling blockchain for the CX industry and gets them market-ready and leverages blockchain infrastructure. To date, no provider is focusing an end-to-end CX Blockchain solution, LEED like-certification for the call center/BPO, specific CX Blockchain training academies and centers of excellence for this market, worldwide.
The CX Blockchain Institute enhances the customer experience and breaks down organizational silos which can be bypassed with blockchain. It allows both the customer and the contact center agent they interact with more control because the platform contains all the relevant information they need, and in an encrypted and secure manner. At the same time, it can increase CSAT scores and decrease fraud in the call centers.
The Institute delivers seven primary services: CX Blockchain operations and communications assessments, Blockchain-driven CX process design/re-design, Blockchain implementation and testing, CX Blockchain Training Academy, an exclusive Blockchain CX Certification program unique to the needs of the customer care industry, a comprehensive industry awareness broadcast system, and a compliance program. The first class for the Blockchain CX Certification program will commence in the fourth quarter of 2019.
Yes. We have two European call centers completing the operational audits phase of the program now.
CX Blockchain solutions, by definition, must enable players in the CX sector: BPOs, call centers, CX teams the ability to fulfill Blockchain within the call center or customer experience journey. This is exactly what The CX Blockchain Institute has accomplished. The Institute provides an end-to-end Blockchain solution focused on the specific requirements of the customer service industry. Unlike so-called Blockchain technology service providers who concentrate on providing commodity backend Blockchain infrastructure services, The Institute is focused on delivering an intelligent and intuitive solution that enables the BPO industry to innovate without breaking the bank.
The CX Blockchain Institute was founded in 2019. The privately-held company is headed by Shelli Ryan, APR, Fellow PRSA and Mark Angus. The two principals are customer experience (CX) industry veterans with backgrounds from leading BPO, CX and worldwide customer care companies. The Institute has a preliminary agreement to establish its worldwide headquarters in Technology & Research Incubator, sponsored by the University of Nevada –Las Vegas (UNLV) at the UNLV/Harry Reid Research & Technology Park in Las Vegas, available October 2019.
The worldwide launch will be announced in mid-August 2019.
The CX Blockchain Institute already maintains well-established relationships with leading companies whose technology and service contributes to the core solutions of the company’s Enhanced CX with Blockchain solution. Technology partners include Strong Block, and other agnostic Blockchain software solution providers. Call center consulting, research and communication partners include SKWeston & Company, Knowledge Executive and Ad Hoc Communication Resources.
The CX Blockchain Institute is also exploring potential channel and private labeling partnerships as an additional source of shared revenue.
Price depends on the size of the BPO/call center, and is generally priced as service packages. Enhanced CX with Blockchain is sold as a comprehensive solution, which includes, set-up, audits,
facilitating training academies, setting up centers of excellence, integration/technology transformation solutions. There is a separate fee to become CX Blockchain Institute certified and a subscription service for The CX Blockchain Forum.