Issue link: https://maltatoday.uberflip.com/i/946236
maltatoday Business & Finance Business in the modern world looks dramatically different from how it did back in the days of the country store that accepted credit and barters. Companies now sell their goods internationally and interact with clients all over the world. Technology has played a huge role in changing the way business is done, and makes running a business in the modern world more possible. Today, with email, cell phones, tele- conferencing and video chats, it's possible to have a company meeting with clients and employees all over the world — as if they were all sitting in the same conference room. From the time of the cotton gin or the first shoe assembly line, technology has dramatically increased business efficiency and production. Automated warehouses and shipping have also become common, helping to meet increased demand, complete with automated labeling with bar codes to keep track of the size, weight and destination of every package that is sorted through the system. Since companies are able to sell to customers all over the world, consumers can be more picky about which businesses they choose to patronise. This means the modern businesses have to fight harder to keep their customers loyal, and to stand out from the competition. Social media has provided a valuable tool for businesses to connect with their clientele and have a more personal conversation with them. With consumers becoming even more connected through smartphones and tablets, businesses will have to continue to adapt in order to be transparent and to offer the best customer service possible. And with new tools like cryptocurrencies and blockchain, companies will need to adapt even more. As is often the case, those that manage to embrace these evolving technologies first - and best - will enjoy a huge advantage over their competitors. In this supplement, we take a close look at how blockchain and cryptocurrencies look set to change the world as we know it. The world of business and finance is no exception. For advertising inquiries contact: Philippa Zammit | pzammit@mediatoday.com.mt | 99835860