Businesses and developers need an agile, scalable, and decentralized solution for deploying the next generation of consumer applications. Internet businesses are exploring more innovative and creative ways of satisfying today’s data-driven tech consumers. 

The onset of blockchains, cryptocurrencies and emerging technologies in artificial intelligence (AI) and machine learning (ML) has transitioned internet consumers from the standard Web 2.0 to the present Web 3.0. The former emphasize user-generated content, ease of use, participatory culture, and interoperability. On the other hand, Web 3.0 helps build and deploy more actionable, intelligent, connected, and open products. 

Phoenix Global is a platform that aims to do just that by deploying the next generation of decentralized consumer applications that are scalable, usable, and interconnected. Outstanding features of the platform include native blockchain bridges to the following blockchains; Solana, NEO, Binance Smart Chain, Tron, and Ethereum. 

The Phoenix Oracle is an outstanding feature that will come in handy when deploying enterprise dApp and DeFi use cases. You will find single-node data validation and on-chain agnostics that will finally make public blockchains interoperable. Federated learning ensures machines can learn about data using a unique training algorithm that teaches the blockchain more about data models. What would be the use of data in the decentralized environment if machines cannot learn and act upon the data? Simply federated learning is the decentralized form of machine learning. 

A significant application of the ecosystem is linking existing blockchains to real-world asset prices via Phoenix Oracles. This is in addition to supporting federated learning for AI and ML implementation of large datasets.

The Phoenix Global platform has a native token called the Phoenix Global token (PHB). This token functions as the primary incentive, powering access and payments within the platform. PHB token was initially designed on the NEO blockchain and had a supply of 3.5 Billion tokens. The token market capitalization has already hit $31.97 Million and is ranked at position 548 globally. 

Features and benefits of the PHB Oracle

Phoenix Global platform has an in-built connectivity bridge to real-world data. These will enable businesses and dApp developers to connect their products to outside datasets and systems quickly and conveniently through the proprietary integration middleware. 

The platform enables multiple sidechains to separate enterprise-level data points from the mainnet. Developers can scale their applications through these sidechains. 

The two-fold consensus functionally comes in handy when transferring assets to and from the mainnet and side networks. The main benefits are boosting performance, efficiency, and agility when deploying consumer-based decentralized applications. 

dApp developers can store certain objects of their products off-chain through PHB’s multi-layered smart contracts feature. This brings more flexibility, ease, and scalability when deploying smart contracts. 

Phoenix Global has an inbuilt data transaction engine that connects to a blockchain-based virtual machine to boost B2C transactions and enforce a trustless environment. Besides, the protocols also boost consumer data ownership, privacy, decentralized, encrypted data storage, and security across the platform. 

Benefits of the Phoenix Global Oracle project

Phoenix Global powers the real economy by bridging real-world assets to blockchains. The platform unlocks more value for such assets and derives the full potential of actionable asset data such as price feeds. 

Phoenix Oracle is built on the Binance Smart Chain, bringing more scalability, security, and robustness.

The platform deploys blockchain agnostic-cross blockchain bridges. 

Phoenix Global brings diverse blockchain coverage with applications cutting across various retail, financial services, lifestyle and luxury, travel, and automotive industries. The project can be used across marketing departments, customer relations management, customer experience, artificial intelligence, and consumer data.

Conclusion: A solution for the next generation of decentralized applications

The main focus of the Phoenix Global platform is to bridge the gap between decentralized blockchain and the real-world economy. Particularly given that most of the decentralized economy is based on virtual assets rather than physical assets. PHB founders envisioned unleashing the value of these physical assets by providing alternative data such as price feeds and helping developers deploy data-driven and actionable consumer applications.

Blockchain bridges are programs or systems that make it easier for multiple blockchain networks to interact and communicate with one another. They serve as connectors, enabling the exchange of resources, information, and data between various blockchains.

The Phoenix Global (PHB) project is an enterprise-scale blockchain solution built with the consumer in mind. It primarily works to make next-gen consumer applications more private, interactive, and connected. In addition, it comprises a built-in data transaction protocol to Phoenix Global Virtual Machine, which increases B2C trust, ensures consumer data ownership and security, and provides decentralized, encrypted data storage.

What is a Data Transaction Engine?

In essence, blockchain is a database technology with properties that are not unique individually but together uniquely store, verify, and exchange data. Phoenix Global proposes a data transaction engine that allows businesses to increase consumer data ownership and security, enhancing business-to-customer (B2C) trust. 

Businesses need pure and consistent consumer data to get an overview of a customer and offer exceptional service. However, organizations often need to duplicate 20-40% of their consumer data records, resulting in many inefficiencies. Because of this, a business needs to integrate a robust data transaction engine to match, deduplicate, and meld these records. 

In the B2C space, the number of records runs into the millions or tens of millions. Businesses struggle to wash up duplicates in such volumes without innovative and practical tools.

Benefits of Integrating a Data Transaction Engine

Integrating a data transaction engine can hugely impact your business. There are many benefits of integrating an immutable data transaction engine in a marketing strategy, but the top benefits for B2C organizations are the following:

Financial impact

Many brands worldwide continue to suffer duplicate, siloed, and out-of-sync customer data, losing millions of dollars every year. Approximately 20-40% of all the consumer records within an organization are duplicates, which may cost between $20-$100 each per year. By integrating a robust data transaction engine, businesses can effortlessly organize and maintain consumer data and clean out-of-place data. In doing so, they can also eliminate duplicates and ensure that the data is precise and fresh. 

Efficiency

Enhancing efficiency, Phoenix Global’s Data Transaction Engine for B2C services provides blockchain-based customer data storage. Businesses establish and maintain principal consumer records that various systems can access (i.e., sales, marketing, ERP, etc.). Next, the network offers quality records management. Phoenix Global leverages artificial intelligence tools to match, merge, and clean out-of-place data at scale. Balancing all of these components, Phoenix Global helps brands securely create a clean and reliable customer record. 

Personalization

Brands worldwide want to provide their customers with an experience that accommodates their tastes and preferences. Businesses can pinpoint opportunities and customize service delivery through expressive information and detailed data sets on every customer relationship. Because this results in customer satisfaction, brands can effectively use a Data Transaction Engine to grow revenue, increase profitability, and increase their lifespan. 

Conclusion

Businesses face a significant challenge as they establish a customer data management strategy. They may struggle to link siloed, out-of-sync consumer records into a single coordinated perspective across all internal organizations sales, service, marketing, ERP, and fulfillment. 

To create and maintain a pure customer record, teams must update and access the same unified customer profile. As such, Phoenix Global plays such a vital role in managing customer data for B2C services. It helps brands create a customer master record in a distributed ledger that is immutable and safely stored on the blockchain.