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India Draws International Business from Europe While Expanding into Asia and the US

Following its successful appearances at Japan’s WebX and Korea Blockchain Week (KBW), GGI continued to make waves at Token2049 Singapore, one of the largest blockchain conferences of the year. With exciting new partnerships and a strong presence across major side events, GGI demonstrated its ongoing commitment to leading innovation in the Web3 gaming sector. Expanding the Ecosystem with New Partners At Token2049, GGI unveiled new ecosystem partners, including ArkForge and SOMSOC, further solidifying its position as a key player in the blockchain gaming space. GGI also held a series of game-related side events in collaboration with some of the most influential ecosystems today, including LINE NEXT and TON, where the future of Web3 gaming was explored in depth. These collaborations highlight GGI’s growing influence and its role in bringing together key players in the industry. A New Wave of Games on the Horizon Since its inception, GGI has consistently pushed the boundaries of what’s possible in Web3 gaming, achieving significant commercial and business expansion. At Token2049, GGI introduced its latest gaming lineup to partners and players, with titles like SimDunk, which recently launched its Pioneer Test, and upcoming games such as Yokai Odyssey and ATMAN. These titles form part of GGI’s broader publishing strategy, which includes 7 Telegram mini-games, 5 large-scale midcore games, and collaborations with 10 indie studios. Each of these games represents GGI's commitment to offering diverse, high-quality content that bridges the gap between Web2 and Web3 gaming communities. Leading at Token2049’s Premier Events As a sponsor, GGI took center stage at the InnoBlock Summit, one of the largest side events of Token2049, hosted by the Asia Blockchain Gaming Alliance (ABGA). Alongside over 100 industry leaders, GGI explored application-layer opportunities in the Web3 space, sharing the stage with pioneers like Catizen, Mythical Games, and Seraph to discuss what it takes to succeed in today’s competitive Web3 gaming landscape. Notably, Nancy, CEO of Yeeha! Games and co-founder of GGI, delivered a keynote at the summit, showcasing Yeeha!’s platform and its mission to become the “Epic Games of Web3.” Attendees were particularly excited about Yeeha!’s upcoming AI-driven gaming solutions, including a natively trained GPT that promises to revolutionize Web3 gaming experiences. Co-Hosting for Industry Insights and Collaboration GGI also co-hosted a major event for Web3 Gaming Builders and VCs alongside LINE NEXT, Kaia, and ABGA, focusing on how to empower the growing APAC gaming community. During the event, GGI highlighted its comprehensive ecosystem, which spans game incubation, publishing, and infrastructure development. By showcasing premium content and impressive growth metrics, GGI reinforced its vision to create high-quality, engaging gaming experiences that bring Web2 players into the Web3 space. Spotlight at the Open Art Conference Another key highlight for GGI at Token2049 was its participation in the Open Art Conference, hosted by TON Society, TONX, and Blum at the National Gallery Singapore. With over 8,000 registered participants, this event celebrated TON’s growing ecosystem, where GGI has been an early and active supporter. GGI shared insights on how TON, often seen as a dark horse in the GameFi sector, is poised to have a profound impact on the industry. Additionally, GGI introduced the exciting SOMSOC x Yeeha! collaboration, which includes the HOUSEBOY art collection and the cyber-themed basketball game SimDunk, which officially launched its Pioneer Test on the day of the event, receiving an enthusiastic reception from the gaming community. GGI’s Commitment to the Future of Web3 Gaming Token2049 Singapore solidified GGI’s reputation as a trailblazer in Web3 gaming, as the company continues to build sustainable partnerships and deliver premium gaming experiences. Amid the challenges and opportunities in this fast-evolving industry, GGI remains dedicated to injecting vitality into the blockchain gaming sector by offering innovative and engaging content for both Web2 and Web3 players. With its continued growth and collaboration with top industry partners, GGI is set to shape the future of Web3 gaming for years to come. As it looks ahead to new game launches, partnerships, and innovations, GGI is well-positioned to lead the next wave of GameFi success. This story was distributed as a release by Btcwire under HackerNoon’s Business Blogging Program. Learn more about the program here. Following its successful appearances at Japan’s WebX and Korea Blockchain Week (KBW), GGI continued to make waves at Token2049 Singapore, one of the largest blockchain conferences of the year. With exciting new partnerships and a strong presence across major side events, GGI demonstrated its ongoing commitment to leading innovation in the Web3 gaming sector. Expanding the Ecosystem with New Partners At Token2049, GGI unveiled new ecosystem partners, including ArkForge and SOMSOC , further solidifying its position as a key player in the blockchain gaming space. SOMSOC SOMSOC GGI also held a series of game-related side events in collaboration with some of the most influential ecosystems today, including LINE NEXT and TON, where the future of Web3 gaming was explored in depth. These collaborations highlight GGI’s growing influence and its role in bringing together key players in the industry. A New Wave of Games on the Horizon Since its inception, GGI has consistently pushed the boundaries of what’s possible in Web3 gaming, achieving significant commercial and business expansion. At Token2049, GGI introduced its latest gaming lineup to partners and players, with titles like SimDunk , which recently launched its Pioneer Test, and upcoming games such as Yokai Odyssey and ATMAN. SimDunk SimDunk These titles form part of GGI’s broader publishing strategy, which includes 7 Telegram mini-games, 5 large-scale midcore games, and collaborations with 10 indie studios. Each of these games represents GGI's commitment to offering diverse, high-quality content that bridges the gap between Web2 and Web3 gaming communities. Leading at Token2049’s Premier Events As a sponsor, GGI took center stage at the InnoBlock Summit, one of the largest side events of Token2049, hosted by the Asia Blockchain Gaming Alliance (ABGA). Alongside over 100 industry leaders, GGI explored application-layer opportunities in the Web3 space, sharing the stage with pioneers like Catizen, Mythical Games, and Seraph to discuss what it takes to succeed in today’s competitive Web3 gaming landscape. Notably, Nancy, CEO of Yeeha! Games and co-founder of GGI, delivered a keynote at the summit, showcasing Yeeha!’s platform and its mission to become the “Epic Games of Web3.” Attendees were particularly excited about Yeeha!’s upcoming AI-driven gaming solutions, including a natively trained GPT that promises to revolutionize Web3 gaming experiences. Yeeha! Games Yeeha! Games Co-Hosting for Industry Insights and Collaboration GGI also co-hosted a major event for Web3 Gaming Builders and VCs alongside LINE NEXT, Kaia, and ABGA, focusing on how to empower the growing APAC gaming community. During the event, GGI highlighted its comprehensive ecosystem, which spans game incubation, publishing, and infrastructure development. By showcasing premium content and impressive growth metrics, GGI reinforced its vision to create high-quality, engaging gaming experiences that bring Web2 players into the Web3 space. Spotlight at the Open Art Conference Another key highlight for GGI at Token2049 was its participation in the Open Art Conference, hosted by TON Society, TONX, and Blum at the National Gallery Singapore. With over 8,000 registered participants, this event celebrated TON’s growing ecosystem, where GGI has been an early and active supporter. GGI shared insights on how TON, often seen as a dark horse in the GameFi sector, is poised to have a profound impact on the industry. Additionally, GGI introduced the exciting SOMSOC x Yeeha! collaboration, which includes the HOUSEBOY art collection and the cyber-themed basketball game SimDunk, which officially launched its Pioneer Test on the day of the event, receiving an enthusiastic reception from the gaming community. SOMSOC x Yeeha! SOMSOC x Yeeha! GGI’s Commitment to the Future of Web3 Gaming Token2049 Singapore solidified GGI’s reputation as a trailblazer in Web3 gaming, as the company continues to build sustainable partnerships and deliver premium gaming experiences. Amid the challenges and opportunities in this fast-evolving industry, GGI remains dedicated to injecting vitality into the blockchain gaming sector by offering innovative and engaging content for both Web2 and Web3 players. With its continued growth and collaboration with top industry partners, GGI is set to shape the future of Web3 gaming for years to come. As it looks ahead to new game launches, partnerships, and innovations, GGI is well-positioned to lead the next wave of GameFi success. This story was distributed as a release by Btcwire under HackerNoon’s Business Blogging Program. Learn more about the program here. This story was distributed as a release by Btcwire under HackerNoon’s Business Blogging Program. Learn more about the program here . here

GGI Shines At Token2049 Singapore, Showcasing Major Partnerships And GameFi Innovations

GGI Shines At Token2049 Singapur, Jach’a Yanapt’awinaka Ukat GameFi Machaq lurawinakat uñacht’ayasa

GGI brilla en Token2049 Singapur, mostrando importantes alianzas e innovaciones de GameFi

GGI brilla a Token2049 Singapore, presentando importanti partnership e innovazioni GameFi

GGI、Token2049シンガポールで主要パートナーシップとGameFiのイノベーションを披露

GGI šviečia Token2049 Singapūre, demonstruodamas pagrindines partnerystes ir GameFi naujoves

GGI сјае на Token2049 Сингапур, прикажувајќи големи партнерства и иновации во GameFi

GGI schittert op Token2049 Singapore, met belangrijke partnerschappen en GameFi-innovaties

GGI Token2049 Singapurpi K'ancharin, Hatun Huñunakuykunata chaymanta GameFi Musuqyachiykunata Rikuchispa

GGI ප්‍රධාන හවුල්කාරිත්වයන් සහ GameFi නවෝත්පාදනයන් ප්‍රදර්ශනය කරමින් Token2049 සිංගප්පූරුවේදී බැබළෙයි

ГГИ блиста на Токен2049 Сингапуру, представљајући главна партнерства и ГамеФи иновације

GGI, Önemli Ortaklıkları ve GameFi Yeniliklerini Sergileyen Token2049 Singapore'da Parlıyor

I-GGI Ikhanya kwi-Token2049 yaseSingapore, ibonisa iNtsebenziswano enkulu kunye ne-GameFi Innovations

Every day, new developments in artificial intelligence and machine learning generate an increasing amount of data. For finance and investment professionals, navigating this data-rich environment is challenging, and the costs of mistakes are high. That’s why the industry of data analytics and visualization is expanding at an extraordinary pace. A few years ago, my approach to data analysis was completely transformed by Atmajitsinh Gohil’s R Data Visualization Cookbook, which offers over 80 “recipes” for data visualization with R programming language. Published in 2015, this book has been used by students of data analytics, journalists, designers, and policymakers alike. However, the landscape is evolving rapidly. I spoke with Atmajitsinh Gohil to discuss how technology is revolutionizing data management, particularly in finance. Data’s rapid growth With AI and ML creating new datasets that previously didn't exist, the challenge lies in continuously developing skills to visualize this data effectively. According to Gohil, the tools available often lag behind the advancements in technology. That’s why finance professionals should be innovative in their approach to data representation and analysis. AI's impact on financial applications “In the banking sector, the application of AI is still in its nascent stages,” Gohil said. “Banks are cautious about adopting new technologies due to concerns over data security and client privacy.” However, the finance industry is starting to explore AI’s potential in various areas. Gohil mentions internal AI projects aimed at text summarization, automating report generation, and predictive analysis of stock performance. Many banks are also developing in-house AI models versus relying on OpenAI or other external AI products. “The effectiveness of these models heavily depends on the quality of the data provided,” Gohil notes. “If a bank's data is biased or poorly maintained, the resulting models will likely underperform.” Use in fraud detection Data visualization plays a pivotal role in fraud detection. Gohil explains that machine learning models identify fraud by analyzing vast datasets, even though the proportion of fraudulent data is typically small. Visualization techniques help create dashboards that display login patterns, demographic information, and fraud occurrences, enabling banks to tweak and improve their fraud detection models. "Fraudsters adapt very quickly," Gohil warns, emphasizing the importance of being prepared for new threats and implementing robust security measures. Developing proprietary AI The need for concise and actionable data presentation has never been greater, said Gohil. "The rate at which we are producing data has increased," he explains. Visualization tools help make sense of this data, allowing for informed decision-making and efficient analysis. As the finance sector navigates the complexities of AI and ML, the continuous development of innovative visualization techniques is crucial in strategy and decision making. However, the biggest challenge and opportunity for banks lie in developing proprietary AI, where they face tough competition. OpenAI models benefit from training on publicly available data, from YouTube to news articles, which banks cannot use due to privacy concerns. The future of data visualization Gohil sees the data visualization industry expanding in tandem with AI and ML, development of new visualization techniques, and tools specifically designed for large-scale datasets used by AI models. "It would be interesting to see data visualization tools that explain how AI models operate at different stages," Gohil notes. Such tools would make it easier for banks to understand and adopt new technologies, potentially leading to broader acceptance and application. Photo credit: Shutterstock Every day, new developments in artificial intelligence and machine learning generate an increasing amount of data. For finance and investment professionals, navigating this data-rich environment is challenging, and the costs of mistakes are high. That’s why the industry of data analytics and visualization is expanding at an extraordinary pace. A few years ago, my approach to data analysis was completely transformed by Atmajitsinh Gohil’s R Data Visualization Cookbook , which offers over 80 “recipes” for data visualization with R programming language. R Data Visualization Cookbook Published in 2015, this book has been used by students of data analytics, journalists, designers, and policymakers alike. However, the landscape is evolving rapidly. I spoke with Atmajitsinh Gohil to discuss how technology is revolutionizing data management, particularly in finance. Data’s rapid growth Data’s rapid growth With AI and ML creating new datasets that previously didn't exist, the challenge lies in continuously developing skills to visualize this data effectively. According to Gohil, the tools available often lag behind the advancements in technology. That’s why finance professionals should be innovative in their approach to data representation and analysis. AI's impact on financial applications AI's impact on financial applications “In the banking sector, the application of AI is still in its nascent stages,” Gohil said. “Banks are cautious about adopting new technologies due to concerns over data security and client privacy.” However, the finance industry is starting to explore AI’s potential in various areas. Gohil mentions internal AI projects aimed at text summarization, automating report generation, and predictive analysis of stock performance. Many banks are also developing in-house AI models versus relying on OpenAI or other external AI products. “The effectiveness of these models heavily depends on the quality of the data provided,” Gohil notes. “If a bank's data is biased or poorly maintained, the resulting models will likely underperform.” Use in fraud detection Use in fraud detection Data visualization plays a pivotal role in fraud detection. Gohil explains that machine learning models identify fraud by analyzing vast datasets, even though the proportion of fraudulent data is typically small. Visualization techniques help create dashboards that display login patterns, demographic information, and fraud occurrences, enabling banks to tweak and improve their fraud detection models. "Fraudsters adapt very quickly," Gohil warns, emphasizing the importance of being prepared for new threats and implementing robust security measures. Developing proprietary AI Developing proprietary AI The need for concise and actionable data presentation has never been greater, said Gohil. "The rate at which we are producing data has increased," he explains. Visualization tools help make sense of this data, allowing for informed decision-making and efficient analysis. As the finance sector navigates the complexities of AI and ML, the continuous development of innovative visualization techniques is crucial in strategy and decision making. However, the biggest challenge and opportunity for banks lie in developing proprietary AI, where they face tough competition. OpenAI models benefit from training on publicly available data, from YouTube to news articles, which banks cannot use due to privacy concerns. The future of data visualization The future of data visualization Gohil sees the data visualization industry expanding in tandem with AI and ML, development of new visualization techniques, and tools specifically designed for large-scale datasets used by AI models. "It would be interesting to see data visualization tools that explain how AI models operate at different stages," Gohil notes. Such tools would make it easier for banks to understand and adopt new technologies, potentially leading to broader acceptance and application. Photo credit: Shutterstock Photo credit: Shutterstock

Revolutionizing Data Management for Strategic Decision-Making

Millions of innovative tech ideas come up every year that can revolutionize industries and enhance human lives. These ideas emerge with a promise that could change the world if the right people work on it, and importantly, they get financial backing. However, a substantial portion of these ideas fail to make their way into the consumer's hands due to the lack of funding. Despite their potential to reshape the future, many innovative concepts fail to impress , thus unable to secure grants for their execution. investors Addressing the deficit in funding allocated for innovative ideas is a challenge that necessitates our attention and concerted efforts. Keeping that in mind, the Indian Government has taken the initiative to help the young geniuses of the country. In her Union Budget 2024 presentation today, on February 1, Finance Minister Nirmala Sitharaman highlighted a promising outlook for the tech-savvy youth, stating that "this will be a golden era" for them. Finance Minister Sitharaman said, "For our tech-savvy youth, this will be a golden era. A corpus of Rs 1 lakh crore will be established with a 50-year interest-free loan provided. It will be for long-term financing or re-financing with low or nil interest rates." "We need to have programs that combine the powers of our youth and technology," the minister added. Finance Minister Sitharaman also announced that a new scheme will be launched "for strengthening deep-tech technologies for defence purposes and expediting 'atmanirbharta'." Speaking on new-age tech, Sitharaman said, "New-age technologies and data are changing the lives of people and businesses. They are also enabling new economic opportunities and facilitating the provision of high-quality services at affordable prices for all, including those at the ‘bottom of the pyramid.’" She also expressed her gladness about the fact that India is leading the way in "showing solutions through innovation and entrepreneurship of its people." She added that opportunities for India and its citizens are expanding at the global level. India is expected to surpass Japan and become the third-largest economy by the year 2030. The tech startups will play a major role in bringing Foreign Direct Investments into the country and generating employment for India's massive population of 1.4 billion people. The difficulty in convincing investors is one of the biggest issues faced by tech startups in developing countries like India and Vietnam. Some of India's startups rank in the top tier around the world in their respective fields and thus, have successfully created a reputation of Indian companies. In the Financial year 2022-2023, the total Foreign Direct Investment was $70.97 Billion, and total FDI equity inflows stood at $46.03 Billion. The Service and the Computer Software and Hardware sectors received the highest FDI of 16% and 15%, respectively. There have been many cases where a small startup was not able to expand due to the insecurities of the existing investors and their reluctance to take bold steps, but despite the restraints, the Indian entrepreneurs were able to bring their ideas into reality. They were able to bring products to the market which helped the people and also were profitable. Also published here

How India's New Budget is Helping Foster Innovative Ideas

Phishing and fraudulent emails are on the rise and continue to be major problems for both businesses and consumers. It has become a must for brands to adopt security measures and make it a safe and reliable journey for their customers. Having DMARC, DKIM, and SPF in place, businesses are adopting BIMI, a relatively new authentication standard for another layer of protection. It’s the only visual assistance out of all the other verification methods, helping your recipients identify that your messages are coming from an authentic and legitimate source. BIMI is a great way to build trust in email communication and help avoid phishing. In this article, we will delve into the details of this authentication standard and cover its step-by-step implementation process. What Is BIMI? BIMI, or Brand Indicators for Message Identification, is an email standard that attaches your brand logo to authenticated messages sent from your domain. In other words, it allows you to display the logo next to the email in the recipients’ inboxes. This kind of visual verification helps your users instantly recognize your emails and be more confident in opening them. https://www.youtube.com/watch?v=LjtGwsWDNDY&t=87s&embedable=true Like DMARC, DKIM, and SPF, BIMI is a text record that works by allowing you to publish it in your DNS. The record consists of secure URLs to your logo and your VMC (Verified Mark Certificate, required only by Gmail): v = BIMI1; l = https://example.com/logo.svg; a=https://example.com/certificate.pem When your email is delivered to a BIMI-supported provider, it checks your DMARC policy and retrieves your BIMI text record. Once your logo is found, the mailbox provider will attach it to your email in the recipient’s inbox. Which Mailbox Providers Support BIMI? As far as BIMI, it’s a relatively new email authentication standard; only some inbox providers are supporting it. Here is the list of mailbox providers that support BIMI according to the : BIMI group Inbox providers supporting BIMI: Apple Mail Cloudmark Fastmail Google Gmail La Poste Onet Poczta Yahoo! Zone Inbox providers considering BIMI: Atmail BT Comcast Qualitia Seznam.cz Gmx Yahoo! Japan An Inbox provider not supporting BIMI: Microsoft How BIMI Works: The Main Requirements and Set-up Process BIMI implementation seems complicated and intimidating, especially for businesses new to email authentication standards and just starting to adopt these security measures. But we’ll try to walk you through some of the steps that you need to take to set up BIMI correctly: BIMI works only for domains that are already DMARC compliant and have achieved p=quarantine or p=reject. You can check out for detailed information and everything-DMARC. Achieve DMARC enforcement: this guide BIMI uses this certificate to make sure you have ownership over your logo. This step is optional for mailbox providers and is only required for Gmail. We’ll cover more about this in the next section. Acquire a Verified Mark Certificate (VMC): Make sure you have your brand’s logo located at a secure URL in SVG format. Create a secure URL for your logo: Make sure you have your VMC located at a secure URL in .pem file format. Create a secure URL to your VMC: Now that you have completed all the previous steps, you can generate the BIMI record, and add this TXT record to your domain provider's management console. You can use our free for easier implementation: Generate a BIMI record: BIMI record generator tool To check if your domain uses BIMI, use our free lookup tool and see if your record meets the requirements. Check for an existing record: This is the overall process of setting up BIMI. If you are not experienced in IT or work as an email administrator, this process may be too technical for you. You can contact us any time to help you set up BIMI for your organization. Now, let’s jump to VMC and fully understand its requirements. Introduction to VMC As you noticed, for a proper BIMI implementation, VMC or a verified Mark Certificate is a must for . VMC is a certificate that verifies that you are the legal owner of your logo and have the right to display it next to your emails in the inbox. mailbox providers like Gmail Using your logo with this certificate makes it harder to spoof, as it’s verified by the trademark organization. Now, let’s go through the step-by-step process of acquiring VMC: Become DMARC compliant Just like BIMI, for VMC, is compulsory. This is the first and most important step in not only acquiring the certificate but also adopting BIMI as an email authentication standard. becoming DMARC compliant Trademark your logo Next, you need to register your brand logo as a trademark in an intellectual property office or make sure that it’s already trademarked. Currently, this step is required to qualify for VMC. However, in the future, the standard may expand and include not-registered logos as well. Ensure your logo is formatted correctly Before applying for the certificate, ensure that your logo is in a proper .svg format. Register for the certificate Contact or Entrust certificate authority to request your VMC. By the way, we have partnered with DigiCert to make the BIMI implementation easier and smoother for our customers. As soon as your request is approved, you’ll receive the Privacy Enhanced Mail __ __file. Upload it to your public web server, and you’re ready to go. DigiCert (PEM) What Does BIMI Mean For Your Business? The blue checkmark next to the verified users on social media is not something new, and we all know about the impact it has on us while interacting with such profiles. It’s similar to what we have here with emails, except this blue checkmark indicates that the domain owner has gone through email authentication processes and reached the DMARC “reject” policy. It helps recipients be sure that the email they just received comes from a legitimate source and is authenticated. As verification becomes widespread, more and more businesses are expected to adopt such measures. As a result, phishing emails and any attempt of impersonation will become even more obvious, and your users will instantly identify and ignore them. Now, let’s highlight some key benefits of adopting BIMI: Enhance Your Brand Value Proper BIMI implementation also means having DMARC, SPF, and DKIM authentication standards in place. This demonstrates your commitment to email security and how important it is for your brand to protect your customers and subscribers from cyber attacks. Build Trust As already mentioned above, BIMI builds trust in your email communication. It helps your consumers have confidence in engaging with your content and be sure that the messages are authenticated with DMARC. Increase Deliverability and Boost Marketing Campaigns With a verified BIMI logo, your emails stand out from the rest in the inbox. This not only encourages more open rates but also lowers the chance of being reported, marked as spam, or unsubscribed. Such metrics play an important role in enhanced email deliverability and more effective marketing campaigns. Creating a valid BIMI record and putting it into action may seem challenging at first. However, it’s becoming increasingly popular as phishing attacks continue to evolve. More and more brands are adopting this email authentication standard, making the safety and protection of their users a priority for them.

What Is BIMI: Your Verified Brand Logo Next to Your Email in The Inbox

BIMI কী: ইনবক্সে আপনার ইমেলের পাশে আপনার যাচাইকৃত ব্র্যান্ডের লোগো

Was ist BIMI: Ihr verifiziertes Markenlogo neben Ihrer E-Mail im Posteingang

¿Qué es BIMI? El logotipo de su marca verificada junto a su correo electrónico en la bandeja de entrada

Qu'est-ce que BIMI : le logo de votre marque vérifié à côté de votre e-mail dans la boîte de réception

BIMI क्या है: इनबॉक्स में आपके ईमेल के आगे आपका सत्यापित ब्रांड लोगो

BIMI とは: 受信トレイのメールの横にある認証済みのブランド ロゴ

BIMI란 무엇입니까? 받은 편지함의 이메일 옆에 확인된 브랜드 로고가 표시됩니다.

O que é BIMI: o logotipo da sua marca verificada ao lado do seu e-mail na caixa de entrada

Что такое BIMI: логотип вашего проверенного бренда рядом с вашим адресом электронной почты во входящих

BIMI Nedir: Gelen Kutunuzdaki E-postanızın Yanında Doğrulanmış Marka Logonuz

BIMI là gì: Logo thương hiệu đã được xác minh của bạn bên cạnh email của bạn trong hộp thư đến

什么是 BIMI：收件箱中电子邮件旁边的经过验证的品牌徽标

THE TRANSFORMATION OF THE LIBIDO. A POSSIBLE SOURCE OF PRIMITIVE HUMAN DISCOVERIES

“Good Heavens, these are not the people for me!”

Tolstoi brings us face to face with religion

Over the past 10 years, I’ve had the chance to meet with several company founders and top executives to discuss about their company growth, ambition and challenges. In 2021, what makes these companies successful is their focus on the people, which will probably be obvious to all of you. The most successful of them were taking the greatest care of their people and were also the most selective in their hiring process. Of course, there are some exceptions. If you look around you, you’ll always find organisations that treat people badly and are generating a lot of cash or vice versa. Yet, what struck me the most during these conversations is that beyond caring for their people, it’s their focus on organisational design as well as their governance that seemed to have the greatest impact. There was not a particular framework that made the difference; it was their willingness to find the best approach for their organisation and workers. Thanks to my degree and my 8+ years of experience in various company sizes and industries, I have the pleasure to help medium and large organisations redesign their operating model. Indeed, building and leading product departments gave me the benefit of interacting with all their departments. It also helped me identify the benefits and pitfalls of how certain companies operate. The topics below are, according to me, the ones you should consider when you define your organisation’s design and its operating model. Mission and Vision Are your company’s mission and vision well defined? Can everyone in your organisation understand it and feel their work will contribute to it? In many organisations, the mission and vision are not clearly defined. As a result, it’s difficult for people to understand the reasons behind certain decisions or why certain work is important. And even though the mission and vision are well defined, if your organisation isn’t designed appropriately, your key people won’t be able to embrace them or share them with their team. Values Values are pretty subtle and intrinsically linked to your mission and vision, but they differ in the way that values also live in the blood of your people. For example, if one of your core values is the personal development of people, how will you make sure that your organisation supports it? Who will be responsible to support such initiatives? Should personal development be the responsibility of the HR department or the line management? Your people will be the carriers of your company culture. As explained to me by several CEO having lived hyper growth, and having experienced it in myself, your organisation will evolve and if you don’t pay attention, at some point you won’t recognise yourself in your organisation, which may be a disaster for you and your company. HR - Reward, Recognition and… Firing I’ve always felt that hiring is easy. You create a job listing. You interview people and eventually select the best candidate. What comes after is much more difficult. In your company's current framework, do you have enough ways to reward your people and recognise their work? Many people often forget about this aspect and can be confronted with a situation where, at best, they only have two options to reward someone: promote them or give them a raise. This might be okay when your organisation is still new, but over time, if you don’t have more options, you can find yourself in a tricky situation. For example, one typical mistake is to give a CPO title to a product manager at the start of a venture because they’re a good worker. But the consequence of this kind of action can be a disaster. It’s one thing to lead a team of 3 to 5 developers; it’s another to run 3, 4, or 10 squads. What will you do if you need to hire someone with much more experience? Will you demote your employee? Fire them? Another typical mistake is the inability to fire people. As your organisation grows, you will have to redefine your operating model and not everyone will remain a good fit. At the beginning of a venture, you’ll look for very versatile people that can wear multiple hats, but as you grow, you’ll want to have specialists and will have less room for swiss-knife people. You’ll probably end up having to let some people go and that’s okay. Keeping the wrong people at the wrong place will, most of the time, hurt your organisation the most. Growth and Challenges How fast will you grow? When? We all believe our business will live exponential growth but only a few of us will actually experience this. Even worse, right now everyone is impacted by the pandemic and its consequences. Is your organisation flexible enough to expand and downscale rapidly without taking a hit? There are two patterns I usually identify in organisations: 1. The ones who want to overthink their hypothetical growth. When you build or work in a startup, you’re driven by the hope that you will grow fast, and some people want to control this way too much. I’ve seen management teams spending days, weeks, or months building plans on how they will organise departments and teams. Worse, they even brief and change people's functions before they even have any growth signal. Of course, this usually has pretty quick, negative consequences. It takes attention away from the most important thing: generating revenue. And longer-term, it actually demotivates people as they hope for growth and new challenges that never actually come. 2. The ones who underestimate the importance of their organisation’s design on their ability to scale. On the opposite end of the spectrum, some people ignore the impact of their operating model on their growth potential. You’ll usually encounter this situation in organisations that want to grow internationally or simply start having multiple locations. How will you ensure that your organisation’s design provides enough autonomy to local teams to run and adapt the business to the local economy / culture / rules? How will you make sure that your company culture will remain the same kilometres away from your headquarters? I can’t count the amount of failed internationalisation due to a lack of control from the headquarters over the other offices. The Magical Recipe If you browse over the internet, you’ll see plenty of people advocating for various frameworks such as the Spotify model, the Zappos model, Open Organisation, or others. The truth is that there is no magical recipe. There are as many organisation designs and operating models as there are organisations that create them. The mistake, in my opinion, would be to blindly copy one. Of course, they are inspiring and a great starting point, like any cookbook you may read. But as much as you’re probably fighting to differentiate your product from the competition is as much as you should do to shape your organisation and make it happen. Defining or redefining your organisational model will take time and you should continuously reassess it. I also believe that, at the very beginning, it all starts with the people you hire and how you will empower them to help you build your company. You’ll have to take many factors into consideration to design your organisation. But never forget that how you treat people is what matters the most. The right person, the right plan, at the right time is the magical recipe that will lead to your success. Further Reading and Resources Should you want to go further on the topic here are few resources you may find interesting: by Nicolay Worren A small summary of what’s Organisational Design , by Harris Atmar, Camilo Becdach, Sarah Kleinman, and Kirk Rieckhoff from  McKinsey Bridging the gap between a company’s strategy and operating model , by Aaron De Smet, Sarah Kleinman, and Kirsten Weerda from McKinsey The Helix organisation , by Aaron De Smet, Daniel Pacthod, Charlotte Relyea, and Bob Sternfels from McKinsey Ready, set, go: Reinventing the organization for speed in the post-COVID-19 era , by Laurence Vanhée (French) Happy RH , by Sahl Lavingia, Gumroad No Meetings, No Deadlines, No Full-Time Employees Zappos view on holacracy and their feedback by Spotify Agile to Spotify by Atlassian Agile at Scale by Ronald Park Formula X

What to Focus on to Design and Build Your Organisation With the Ability to Scale

Social commerce is the fastest-growing segment within the relatively mature e-commerce segment in China. Pinduoduo does almost $145B in annual GMV on top of sales by Alibaba and JD. In comparison, the entire Indian e-commerce GMV of Flipkart and Amazon combined is projected to reach ~$41B in 2021 indicating the massive headroom which exists in the Indian market. While e-commerce is estimated to emerge as a $2T category in China, social commerce is slated to emerge as the fastest-growing market cornering a share of ~13%. Over the last 3 years, the amount of time spent by users in China on social commerce apps has grown 6x indicating the growing importance of social commerce as a category. Three business models have gained prominence in this space — the group buying model pioneered by Pinduoduo, the membership-based model developed by Yunji, and the community-based buying model being pursued by Shihuituan. Pinduoduo: The group-buying giant Since its founding in 2015, PDD has amassed an astounding 487M MAUs which compares favorably with Alibaba’s 846M mobile MAUs. PDD provides a fun and immersive buying opportunities using the group purchase model leveraging social platforms like QQ and WeChat. This is enabled by a gamified social interaction based interface in the PDD mobile app. It has focussed exclusively on the value for money buyer groups residing in lower-tier cities across China. Tencent’s investment provides a strong moat for PDD as Alibaba/JD would never be able to access the 1B+ highly engaged users of WeChat and QQ. The secret sauce for PDD is its group-buying model. Under the model, a buyer can initiate or join a team purchase to enjoy lower prices if there are enough buyers for the team (usually two). After a team purchase is initiated, it will have 24 hours to meet the minimum team size set by the merchant. Buyers can use an extensive suite of social sharing tools deeply integrated with WeChat and QQ to complete their teams on time. It even offers certain products for free if users can acquire new users. The number of subsidies that the user receives when inviting each friend to open PDD’s app will diminish from more than RMB 30 to lower than RMB 1. As the users usually don’t want to waste their previous efforts, many of them will choose to continue inviting friends. In the end, the users may need to invite tens of friends to download or reopen PDD’s app to get free products. PDD, on the other hand, gains new users or activates existing users with a very low expense. PDD has developed mini-games within the app to deepen user engagement. Duoduo orchard is one example. An interactive recommendation feed based shopping format allows users to discover new products they might not have known they wanted. Most product discovery on the PDD app is feed based. Only about 44% of users on PDD end up using the search feature in the mobile app. PDD’s 3P marketplace focusses on selective SKUs that are popular across users instead of the long tail of products being offered by search-driven platforms like Alibaba and JD. Alibaba stopped focussing on unbranded smaller merchants on Taobao from 2011 onwards. These merchants were captured by PDD to build its supplier base. There’s no shopping cart in the PDD interface, as every transaction is only for the product from that specific Team Purchase. Hence, PDD enjoys more number of transaction but lower ticket size structurally. Monetization is done using two approaches — similar to larger marketplace platforms like Alibaba/JD: 1. Merchants are asked to pay for display ads, slots in the recommendation feed, and better ranking in search results. Initially, larger merchants were offered free traffic to build supply and demand. This accounts for more than 85% of revenue. 2. Commission to cover the costs arising out of providing transaction services such as payments. A sharp focus on its user base, gamified shopping interfaces, and deep integration with WeChat/QQ have allowed PDD to grow rapidly. It would need to continue adding new users and expanding the share of wallet from existing users to continue on its growth path. The increasing focus from Alibaba/JD on the lower tier markets in China could potentially spell trouble for PDD. Yunji: The online Chinese Costco Yunji has adopted a membership-based model for social commerce. It curates and distributes its own merchandise in partnership with local Chinese manufacturers. It does not rely on ad sales or sales of merchant services for revenues. It exercises complete control over merchandise, logistics, and distribution with a full range of service capabilities. Approx. 88% of revenue comes from merchandise sales with the rest coming from memberships. In 2018, it had 7.4M members and did an annual GMV of $3B. Major categories include personal care, electronics, fresh products, food, and apparel. Yunji’s membership is very similar to what is offered by Costco in North America or Easy Day in India. Members have access to exclusive benefits including discounts and also double up as a potent sales force for selling both merchandise and enrolling new members. Members earn incentives (between 1% to 30% of GMV) by referring buyers even if they do not themselves make purchases. WeChat and QQ are most commonly used for selling merchandise or recruiting new members. New users can become members either by signing up for a 398RMB membership or by spending more than 598RMB on the platform over 3 months. There are also periodic promotions where memberships are given out by premium brands or top users. Top 1% of members are hired as service managers to manage communities on key platforms. Service managers are provided customized training to develop their sales and marketing skills. Almost 83% of members on the platforms end up buying or sharing products contributing 2/3rds of the GMV. Non-member customers buy from Yunji typically through invitations or product links from members, who actively share their opinions and recommend good products to others. Non-members can also go to the app directly as they may hear about Yunji from members. However, they do not enjoy discounts and other membership benefits. Buyers access the Yunji platform primarily through mobile channels, including its flagship Yunji app, webpages opened from their social networking tools, and mini-programs. To encourage members to share, Yunji provides support such as promotional materials, training, and customer services, and handles order fulfillment, so members don’t have to worry about all these execution details and can focus on sharing. Initially, Yunji focussed on discounted products from large well-known brands to develop its base of members and buyers. Of late, emerging brands as well as private labels have gained prominence on the platform. Emerging brands are developed through C2M (customer to manufacturer) initiatives where feedback from customers is used to define what products are developed. It can offer higher referral incentives on emerging/private label brands as compared to leading brands. Unlike PDD which allows all suppliers on to its platforms, Yunji actively curates suppliers of high-quality products and then enters into exclusive agreements with them. Major brands drive eyeballs and trial while emerging/private label brands drive profitability. This chart summarises the key differences between PDD and Yunji quite succinctly. Shihuituan: Community-based group buying Shihuituan is the newer kid on the Chinese social commerce blog. It has pioneered a community-based group-buying model to develop inroads into lower-tier cities in China. Stay at home moms or local mom and pop stores share group buying deals with other people in their locality, place orders using the company’s WeChat mini-program, receive the package from the company, and handle the last mile distribution earning a commission of ~10% in the process. With its network of 80,000 community influencers, the company currently serves 20 million households in 60 cities in China. For November of 2019, it recorded a monthly GMV of 500 million RMB (roughly $71M). The merchandise is supplied by third party vendors who use the platform to access aggregated customer demand. On average each community leader handles around 100 customers. This model allows Shihuituan to significantly lower the cost of customer acquisition. The most prevalent categories on the platform are fresh fruits, vegetables, frozen seafood, and personal care items. Given the nature of products, there is very high repeat usage. Some of the older cohorts average around 14 orders a month. Without a full cold chain, Shihuituan is able to achieve 12-hour delivery for fresh produce across China for most of its orders. This is enabled by using community leaders for last-mile delivery and a just-in-time fulfillment model in its warehouses. Suppliers are encouraged to supply goods as and when orders are received. As a result, fresh produce stays in the supply chain only for 5–7 hours in cold boxes or frozen boxes. Consequently, the company can keep logistics costs to less than 10%. The logistics are completely outsourced while warehouses are self-managed. Suppliers of fresh produce to supermarkets comprise a large chunk of the vendor base. Shihuituan is able to provide better payment terms and access to a larger number of customers compared to traditional supermarkets. Listing on the platform is also free, unlike supermarkets, making Shihuituan an attractive proposition. Implications for India Lessons from these three very distinct business models can point to why social commerce still struggles in India. There are bottlenecks on both the demand and the supply side that have stunted the growth of such models in India. Demand-side 1. PDD, Yunji, and Shihuituan leveraged the Weixin ecosystem (WeChat + QQ) to acquire customers and drive word of mouth. The closest substitute to WeChat that India has is Whatsapp which is very limited in its ability to facilitate commerce. This gap did not allow social interaction based viral loops to take hold in India. 2. China’s e-commerce ecosystem is more mature than the Indian ecosystem. E-commerce is predicted to of overall retail in China by next year. As a result, people are more comfortable with buying goods online. Except for the metros, this level of comfort is still not present in India. make up more than 50% 3. Alipay and WeChat pay are ubiquitous in China with almost everybody using one of these two apps to make payments. Till recently, India did not have an ecosystem that allowed seamless payments across platforms. Cash, which is very expensive, has been the dominant mode of payment for e-commerce users. UPI could be a game-changer with its open-loop architecture and easy to use interface. 4. Chinese companies mixed entertainment with shopping. Expensive phones and internet did not allow for this to happen in India. Jio and cheap handsets are already enabling this. 5. Product quality continues to remain a concern eroding buyer trust. Even on platforms like Amazon, people end up receiving fake or poor quality products. Supply-side 1. China has a lot of spare manufacturing capacity allowing the manufacturing of unbranded products in bulk. This allows costs to remain low which in turn leads to lower pricing for customers. Indian manufacturing ecosystem is still getting organized making it difficult to offer quality goods at low prices. 2. Logistics infra in India remains stretched leading to higher costs of shipping. Existing models have a high cost of logistics, which makes it difficult to service low average transaction value in non-metros. 3. Current crop of e-commerce apps has started adopting discovery-based shopping formats. Most incumbents in this space, continue to rely on search led discovery. In addition, components around social fun and gamification are still missing from mainstream apps. All of this could change as the right macro themes begin to coalesce together, thanks in part to CoVID: 1. CoVID has accelerated the adoption of e-commerce esp. in tier 1/2 cities. Big Basket has claimed that its daily orders became 3x of last year during the lockdown. Post-CoVID sales share of e-commerce distribution channels has doubled for leading consumer electronics brands. Expect this trend to persist. 2. UPI has emerged as a radical disruptor for driving the adoption of digital payments in the country. With 155 banks live and 1.33B transactions in Jun’20, UPI seems poised to capture a significant share of payments in India. The much-delayed launch of Whatsapp Pay could catalyze the development of a WeChat like ecosystem in India. 3. Launch of Jio and the resultant drop in data prices continue to remain a strong underlying theme for deepening penetration of e-commerce in India. The recent partnership between Jio Platforms and Facebook could be the beginning of a new phase in Indian e-commerce. 4. Govt. of India’s increased focus on ‘Atmanirbhar Bharat’ could catalyze the development of local industries to manufacture daily use products in large quantities reducing pricing for end- buyers. 5. Continued investments in logistics, agri-warehousing, and cold-chain infra would also allow movement fo fresh produce from farmers to customers at affordable prices. While China has followed the fresh produce led model to capture users, India might as well end up choosing a different set of products. It would be interesting to see whether social commerce would take off in India at this time. There are a large number of start-ups trying out various models to make it work. The partnership between Jio and Facebook definitely adds a lot of excitement to this space.

Social Commerce Has Taken China By Storm: Why not India?

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