OPEN PLATFORM; SWOT ANALYSIS

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In this article I will be analyzing Open platform with the SWOT analysis in order to know how the internal and external factors affects the project.
Open platform is a decentralized platform that offers Centralized applications the opportunity to integrate with on-chain.  Off chain applications can easily integrate on-chain payments on their platform without having to go through the stress of redesigning their application. 

Strength 

The strengths of a project are the positive internal factors the project possesses that may increase it progress. 
Personally, there are a few factors I consider about the strength of any project be investing in it. 
Purpose of creation: what is the purpose of creating the project? Is it solving a real life problem? Is Blockchain technology really needed? 
With the rate of cryptocurrency adoption on the rapid increase, a lot of people with cryptos may not like to go through the stress of first converting their cryptos to fiat before they will can purchase goods and enjoy services or pay bills. So there is need for integration of on chain payment gateway on centralized applications. Most centralized applications do not have the necessary experts and cost to integrate on-chain payments and even those with the fund, may have to redesign their application.
Open being the only decentralized platform that offers  integration of on-chain payments on centralized applications and business makes Open very valuable and gives it a competitive edge over it potential competitors. 
Working prototype: A working prototype shows how committed and dedicated the team of a project is to making it a success. It is a big step in the right direction. 
Open Platform has taken a good step by making it API public, which shows that it is not just a whitepaper project that is aimed at siphoning money from the public. This shows that Open team is already in line with their set goals. 

Weakness:

Weaknesses are the negative internal factors of a project that may affect it growth negatively. 
Considering the fact that Blockchain is still known and adopted by a small fraction of the whole world, it may take a significant no of time before Open becomes fully adopted. Introducing Open to most existing centralized applications may be a challenge as Blockchain technology itself is only adopted by few, so convincing the developers around the globe to integrate decentralized payment gateway may be an issue. 
Moreover, the ability to turn this weakness into strength depends on the marketing ability of the Open team.  The ability of the team to effectively create awareness and enlighten developers about this platform will neutralize the weakness and turn it into strength.
Also efficiency, secure, fast transaction and low fees are trademarks of Blockchain transaction.  Open platform charging a transaction fee of 3% disrupts that and does not sets Open aside from existing centralized payment gateway.

Opportunity 

Opportunities are the positive external factors that affects the success of a project. 
"Success is when preparation and opportunity meet" Bobby Unser”
Open spotted the opportunity available with decentralized payment gateway and is where posed to exploit it. Granting developers the opportunity to integrate with the Open platform will not only boost Open platform growth but will also move the cryptocurrency forward. It will also help developers reduce ease their time spent. 

Threats:

Developers integrating applications with Open platform is due to the realization of possible increase in their earnings and not because they feel affine about the project. Similar support mat be given to potential competitors. 
Open main threat comes from the big guns in the market, the likes of MasterCard or visa card. They may decide to be integrate their system with the Blockchain.. This may affect the success of Open platform. 
Since there are no barriers to entry in the Blockchain technology,  open is threatened by the introduction of potential competitors .

Official Contacts 

Telegram group: http://go.openfuture.io/xc9x 


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