Minneapolis Entrepreneurs Bring the Future of Tech to Small Businesses in the Twin Cities.
In the heart of Minneapolis, two young entrepreneurs are on a mission to make cutting-edge technology accessible to small business owners everywhere. Carter Razink (24) and Nathaniel Thoreson (26), both originally from Fargo, North Dakota, are the co-founders of DropChain.
With Carter’s background in math and physics from the University of North Dakota and Nathaniel’s marketing degree from North Dakota State University, the duo first met at a previous tech startup and quickly bonded over a shared vision: to bring the power of blockchain to small businesses.
“Silicon Valley may have a first-mover advantage, but they have no monopoly over execution,” said Carter, CEO of DropChain.
Carter and Nathaniel are not old enough to remember the tech boom of the ‘90s when internet companies exploded onto the scene and debuted on the public markets. However, they able to learn from the past as they work at the front lines of the newest internet innovation: blockchain technology.
Like many others in their generation, the tech founders seek deeper connections rooted in trust with the businesses they patronize. 2008’s financial crisis showcased the worst possible side effects of greed in our financial system. Big Tech’s failure to secure the massive amount of personal data they collect highlights the dangers associated with centralized organizations controlling the technology we use every day. The regular hacks and exploits featured on the news demonstrate how insecure this approach can be, including the most recent National Public Data hack in April 2024, which impacted every American with a Social Security number.
Nathaniel and Carter see blockchain as a solution for businesses to rebuild trust.
“Everyone overcomplicates what blockchain is,” said Nathaniel. “It’s simply a way of transferring and storing data in a way that is impossible to hack. That simple idea changes everything, and opens a huge window of opportunity for business owners.”
Recognizing the potential of blockchain, Carter and Nathaniel saw how it could revolutionize marketing for small businesses. By using blockchain to offer customers digital tokens that they can earn and own, small businesses have a powerful new tool to build deeper connections with their communities. These tokens turn everyday transactions into more than just a sale—they become part of a meaningful relationship that encourages customer loyalty and long-term engagement.
Carter and Nathaniel built DropChain, a platform that offers small businesses easy-to-use community engagement tools. These cutting-edge tools are designed to be accessible even to those with no technical background, allowing businesses to create custom digital experiences that build loyalty and engagement.
Once business owners distribute digital tokens to their customers, they can seamlessly activate and engage their community of token holders through automated processes—for example, an automated CRM system. Targeted email campaigns re-engage the most loyal customers of a business, offering them exclusive deals and events as rewards for their continued support. This not only saves business owners hours of their time, but it also fosters a deeper connection between businesses and their customers to drive repeat business.
Local businesses in Minneapolis, such as Frankie’s Chicago Style Pizza in New Hope and Morrissey’s Irish Pub in Uptown, are using DropChain to create tokenized loyalty programs. The Minnesota Blockchain initiative, the largest blockchain non-profit organization in Minnesota, is using DropChain for its membership program. You can also find DropChain powering the NFT scavenger hunt at the 2024 Culture Convergence event over the Labor Day weekend.
Carter and Nathaniel are bringing a new generation of business to Minneapolis. With DropChain, they are helping small businesses modernize and connect with customers in ways that were not possible before.
By making the next generation of internet tools accessible, they are giving local businesses the chance to stand out. As more businesses jump on board, DropChain is turning heads towards Minneapolis as a leader in blockchain innovation.
