{"id":20481,"date":"2021-06-29T11:00:35","date_gmt":"2021-06-29T10:00:35","guid":{"rendered":"http:\/\/bitcoinprbuzz.com\/?post_type=blog&p=20481"},"modified":"2022-01-31T08:15:52","modified_gmt":"2022-01-31T08:15:52","slug":"how-to-handle-a-blockchain-apology","status":"publish","type":"blog","link":"https:\/\/wire.bitcoinprbuzz.com\/blog\/how-to-handle-a-blockchain-apology\/","title":{"rendered":"Apologize, Reconcile and Move On"},"content":{"rendered":"
<\/i>Just like any other business, crypto companies can and will make mistakes or experience incidents where the blame — rightly or wrongly — falls on them. Apologies can be everything from good customer service to taking ownership over monumental mistakes; it can also be the difference between keeping or losing trust in the eye of the public.<\/span><\/p>\n Brendan Eich, CEO of the crypto-friendly open-source browser<\/span> \u2018Brave\u2019 apologized in a Twitter post<\/span><\/a> on behalf of the company for redirecting cryptocurrency companies\u2019 URLs to affiliate links last year. On the other hand, <\/span>Binance chose to publish an official apology on their company\u2019s blog<\/span><\/a> directly addressing EU and UK customers due to customer experience issues. Both are perfectly good blockchain apologies delivered in very different ways.<\/span><\/p>\n There are, of course, other ways that crypto companies have tried. In special circumstances, they have been known to issue an open letter, send out a press release<\/span><\/a>, or even emailing members directly. Whichever vehicle you chose for your blockchain apology, the most important thing is sincerity.\u00a0\u00a0<\/span><\/span><\/p>\n <\/p>\n A study issued by Ohio State University\u2019s Fisher College of Business concluded that there are six key elements to a good apology. An apology is, of course, contextual but as the <\/span>study\u2019s lead author Roy Lewicki-Abramowitz said in an interview,<\/span><\/a> you should have the best chance of success if you implement all six components in your blockchain apology:<\/span><\/p>\n 1. Expression of regret<\/b> \u2014 Be sincere in how the blockchain company feels about the mistake and the potential ramifications. <\/span><\/p>\n 2. Explanation of what went wrong<\/b> \u2014<\/span> Provide a detailed explanation of what went wrong and why. <\/span><\/p>\n 3. Acknowledgment of responsibility <\/b>\u2014 Take full responsibility for the mistake and the direct consequences. If you were a part of a bigger picture you should take ownership of your involvement (never blame the people affected). <\/span><\/p>\n 4. Declaration of repentance <\/b>\u2014 Acknowledge what you did wrong and how you will avoid it in the future. Commit to change and offer reassurance. <\/span><\/p>\n 5. Offer of repair <\/b>\u2014 Make it up to the people directly affected and\/or take direct action.<\/span><\/p>\n6 Key Elements to Implement in Your Blockchain Apology<\/span><\/h3>\n