Blockchain will have an impact on every known industry right from small businesses all the way to large retailers and government organizations.
What is Blockchain?
The most common misconception about Blockchain is that it is similar to Bitcoins. In reality, Bitcoins is just one of the many applications of Blockchain.
Blockchain is an encrypted distributed database that’s shared across multiple computers. The best park about Blockchain is that it is a decentralized network without any of the traditional downsides of decentralized networks making it the preferred among all current technologies.
Blockchain is basically a platform which is used as a base for many modern applications. In other words, Bitcoin is to Blockchain what email is to the Internet.
Being decentralized in nature, shutting down a single node does not risk a complete network shutdown.
Centralized databases are susceptible to corruption. Because Blockchain is decentralized, it is safeguarded from threats.
Thousands of computers working together gives Blockchain higher potential for speed and capacity as compared to a centralized system running on a few servers.
Blockchain for Enterprise
Blockchain is undeniably the largest technology shift of our time. Like the mobile revelation that changed our ideas of communication and information gathering, Blockchain has the potential to do just that.
Comparing the rise of mobile applications to fame like Uber and Airbnb to the rise of dot-com era website successes like Amazon we realize that although internet was adopted a lot faster than PC, mobile applications were adopted even faster than the Internet.
Blockchain has the potential to be adopted at a pack that will be unparalleled to any thus far.
Our Blockchain Solution
Blockchain technology market is projected to see a 61.5 % compounded annual growth in the next 4 years. Still unsure if your company should adopt Blockchain technology? Ask yourself these questions:
Do you record or share business data with multiple entities?
Do you have a frequent exchange of contracts with your customers or business partners that can be automated?
Does knowing the identity of your customers or business partners a part of your statutory norms? (KYC, Anti-Money Laundering etc.)
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