Real-Life Application of Blockchains in Business

Real-Life Application of Blockchains in Business


Hello, guys! Welcome back to All About Apps series from
Cleveroad Studio. Today, we’ll finally find out when and how
we can apply Blockchain technology in small and medium businesses and what Blockchain
business ideas we can use There are so many myths about this technology
that only a handful of people are brave enough to start working with it. I think it’s time to get over all of them. Myth 1 There is only one Blockchain Not true! There are many of them, each has its own differences
due to the purpose it has to serve. So you can choose the system which will suit
your business the most. Myth 2 Blockchains are absolutely secure
There is no 100% secure system in the world. But the fact of hacking will be recorded and
wouldn’t go unnoticed. Myth 3 Blockchain is open for everyone
Blockchain is an open database where all members have access
But access can only be given to the stakeholders. Moreover, a private blockchain can be built
on top of a public blockchain, providing access only to those users who need it. Myth 4 Blockchains are only used by criminals
Anyone can use it for good or for bad, but Blockchain records all actions and no one
can delete this data. Any transaction can be tracked back. Myth 5 Blockchains cannot be used for business
In plain English, Blockchains were created to protect blocks of data, verify information
and record all actions. From this point of view, Blockchain is an
irreplaceable technology for any sphere with sensitive data
All these myths prevent us from believing that Blockchain is not only a trend, it is
the way we all are going to do business in the nearest future. And the sooner we understand that the better
position we can get with our businesses. Watch our previous video about the Blockchains
and its advantages for your business and don’t forget to subscribe to our blog! Now, let’s get back to the topic and figure
out what real-life blockchain technology applications we can take advantage of. For instance, we can use Blockchains for #1
Payments Using Blockchain to make money transaction
you exclude banks from this chain and their fees as well. Which means you send your money directly to
a person you need to without any intermediaries #2. You can also apply Blockchain as Smart contracts The platform excludes the possibility of delays,
suppression or any outside influence. It provides comprehensive financial security,
monitors the terms of the contract and is unbreakable. Application #3. Distributed storage in the cloud The platform helps store more data using the
same amount of hardware and saves a tidy sum at the same time. So in case your business operates big data,
blockchain is a great opportunity to cut down your expenses. #4. Digital Identity With this system, it is much easier to track
and monitor digital identities. And the best thing it does is identity authentication,
where blockchains are needed to secure the whole procedure. #5. Notary To certify a document in Europe, you’ll have
to pay more than 200 euros. With the blockchain platform, you’ll spend
0.2 euros. And if you deal with such certificates, this
blockchain business idea will help you stay afloat. #6. Gifts and discounts
Various loyalty programs help you engage customers and show them your care. And, again, blockchains can help us avoid
different types of scams and create unique certificates which would be easy to verify. #7. IoT systems IoT devices collect megatonnes of data. All this information needs to be processed
and stored. Blockchains fit these criteria the best. #8. Chain of supply
Usual software that manages supply chains is very fragile and in a case of a crash,
you have all chances to go bankrupt. Blockchains records everything that happens
which means even in case of a failure or crack, you can always find out what happened and
rehabilitate the system. Every day we see new Blockchain business opportunities
and how many blockchain startups are appearing all over the globe. It all proves that this system is a bridge
to the future. The full version of our article you will find
right here, in our blog, don’t forget to subscribe to it and be the first to get our
fresh articles. This is it for today, see you next time. Bye

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About the Author: Oren Garnes

10 Comments

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  2. Are searchinging for the best Blockchain develpment company? Here i have experienced one of the best Blockchain development company Bitdeal (https://www.bitdeal.net/hire-blockchain-developers) who provides the highly secured Blockchain Applications…!

  3. Almost everyone with access to the internet has heard of Bitcoin, the first application of blockchain technology to gain worldwide recognition. Some have even mistaken the two for synonyms.

    While Bitcoin led the recognition of cryptocurrencies and even went on to be accepted by various businesses around the world, blockchain itself has benefits far beyond facilitating payments.

    Anyways, read the below. This might help.

    https://www.namasteui.com/5-ways-blockchain-technology-can-benefit-your-business/



    Regards,

    Sourav Basak

    Namaste UI

  4. useless video
    simply speaking even not knowing more about the blockchain , exchage build over the database hacked not blockchain was hacked

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