Blockchain case study  229

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⚬Train employees and set up support functions to manage the plat-

form and provide real-time incident response as well as customer

support.

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⚬Set up SRE (site reliability engineering) functions to effectively

manage the technical environment.

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⚬Setup SLAs (service level agreements) for the service availability

and quality.

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⚬Set up regulatory engagement and reporting functions.

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⚬Set up monitoring and alerting to detect the problem proactively

and improve MTTR (mean time to recover) in the case of a major

incident.

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⚬Kick off a marketing plan to publicise the platform and attract

customers as well as artists to use the marketplace.

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⚬Launch the IOSpeed digital ART platform in appropriate coun-

tries as per the regulatory approval.

Advantages of the IOSpeed-owned NFT platform

• IOSpeed will have more control over the design and functioning of

the platform

• Their brand name can be significantly improved

• IOSpeed will have potential to disrupt the market of the digital

marketplace to connect the buyer and seller through their platform

• It can be easier for IOSpeed to grow by expansion in different

markets

• IOSpeed can have positive ROI in a longer term by creating and estab-

lishing its own branded platform

• There is more possibility to attract artists and customers by get-

ting their feedback and improve the functionality of the platform

promptly

• Reducing the reliance on a third party for core functionality is benefi-

cial in a longer turn. It can also retain employees and make them loyal

towards the company. This would reduce staff turnover and improve

their productivity

• IOSpeed can increase the value of the company and also increase its

chances to go public through IPO (Initial Public Offering)

Disadvantages of the IOSpeed-owned NFT platform

• IOSpeed can find it difficult to deliver the platform under tight time-

lines due to limited skills in the market for blockchain and upcoming

innovative technologies.