Lately I have been asking myself if it would be possible for a company to be fully onchain.
While this idea seem tempting to me, I don't think it's possible as everything onchain is publicly available, and hence there would be some issues with GDPR.
The thought of having all information stored onchain is great and would bring a lot of traffic and make it easy for customers and other companies to pay in $HIVE or $HBD, possibly impacting the price of $HIVE to the better.
It would be a nice feature and to make the $HIVE payment more attractive there could be a 5% discount and no fees for the buyer - the seller would have to cover that by not getting "full" payment.
Of course, the impact on the value would be affected. It would possibly create force-sell for some users, perhaps even whales. This could dump the price, as the massive upvotes also create a sense of selling pressure, as it has been stated previously.
In the long run, if said company could avoid selling, I believe the flow would have a positive impact on the value.
As with everything, there are downsides too.
As a blockchain operates with the principle of transparency, having all information stored onchain could cause a massive issue for the company. Customers and other confidential information would be the biggest concerns.
The company would, as stated previously, make all information available to the public. This means competitors could also see strategies and operations, giving a disadvantage to the onchain company.
This lack of flexibility to the stored information can be problematic in rapidly changing business environments.
Not all customers would be happy to know their information could become publicly available, making user adoption quite difficult, especially if you're a company who sell services/items to other companies. This could impact the willingness of parties to engage with the technology.
I believe the downsides are too many and too severe to make it responsible to actually create a company with all information onchain, unfortunately.
