Connect with us
Loading...

Tech

Your Business Needs Blockchain – TechMoran

Published

on


The conversation
about the versatile possibilities of the Blockchain does not cease, and every
day, there are more and more projects that use technology in various fields.
However, it is still difficult for many to imagine how the popularization of
Blockchain will affect everyday life.

But what are the
opportunities for your business? To start answering this question, I came up
with four areas of activity where the transition to distributed, encrypted
accounting could provide a competitive advantage.

Startups + Blockchain

Startups are the
main area that today wins thanks to blockchain technology. When ICOs proved to
be a scammy way of raising funds (mostly), Security Token Offering came to
replace them.

Such companies as​​ROKKEX now offer the
platform to present a project or an idea to a wide selection of investors. No
matter whether you need to build a new section in the residential complex, open
a new shop, or start a new company — ​Security Token Offering​can be a great way to raise
funds with more security to the investors and regulations in place.
ROKKEX Securities Exchange Platform will help projects to raise funds and find
investors who are seeking investment opportunities all in one place.

Healthcare + Blockchain

Blockchain
can be used as a universal way of monitoring body indicators. In this way, the
patient’s medical history or a regular medical record can be stored in one
database with accurate diagnostic data that cannot be changed or edited post factum.
Any doctor from any institution will have access to it, and the database will
store much more information than the district clinic. Besides, the patients
themselves will be able to stay updated on their indicators. The project of the
Massachusetts University of Technology, MedRec, is based on this idea.

Finance + Blockchain

It is believed
that the blockchain can completely change the system of financial transactions,
making them fully protected and anonymous.

In addition, all
operations within the company can be fixed in blocks in that way, saving space
on data storage. At the same time, the Blockchain is reliable and, due to its
decentralization, does not depend on, say, company servers, which can be hacked
as well.

Thus, Barclays
has successfully launched several blockchain projects that allow you to track
transactions and prevent fraud.

E-Commerce + Blockchain

Blockchain
applications can also be found in trade. Of course, the main way to introduce
technology into e-commerce is through cryptocurrency payments. Although
cryptocurrencies still cause a lot of controversies, they will not disappear.
Therefore, many companies are starting to adapt to them now.

Cryptocurrency
isn’t the only function that the blockchain can fill up e-commerce.

For example,
VeChain plans to use blockchain technology to protect luxurious products from
fakes. An individual product will receive a unique code, which is subsequently
entered into the data chain, so the buyer can always verify the authenticity of
the product.

State + Blockchain

Since the
blockchain allows to store large amounts of data, it immediately comes to mind
as an alternative to databases of government agencies.

If centralized,
cumbersome, and insecure management and inventory systems can be replaced by a
simplified distributed locking system for keeping records, then the need for
features such as administration and compliance checking of these records will
be reduced.

The Estonian
government, for example, is working with Ericsson to create a blockchain-based
data center and use it for public data. A similar idea arose in South Korea and
the UK, but the initiatives relate to both security and the transportation
network.

Final Thoughts

It’s true that
even if shortly we do not switch to cryptocurrencies, the Blockchain will be
widely used in everyday life. Numerous options for using technology and
research on this topic suggest that Blockchain will become an integral base
that will make it possible to simplify various processes.

The unfolding of
blockchain potential occurs at a rapid pace because new technologies and ideas
for its integration appear almost every day. This means that in 5-10 years, the
blockchain will become an integral part of our lives.


Reads
207



Source link

Advertisement
Loading...
Loading...

Facebook

Loading...

Trending

Social Media Auto Publish Powered By : XYZScripts.com