Hello, guys!Welcome back to All About Apps series from Cleveland Studio.Today, we’ll finally find out when and how we can apply Blockcchain technology in small and medium businesses and what Block chain 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 Block chain. 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 Block chains 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 Block chain is open for everyone Block chain is an open database where all member shave access But access can only be given to the stakeholders.Moreover, a private block chain can be built on top of a public block chain, providing access only to those users who need it.
Myth 4 Block chains are only used by criminals Anyone can use it for good or for bad, but Block chain records all actions and no one can delete this data.Any transaction can be tracked back.
Myth 5 Block chains cannot be used for business In plain English, Block chains were created to protect blocks of data, verify information and record all actions.From this point of view, Block chain is an irreplaceable technology for any sphere with sensitive data All these myths prevent us from believing that Block chain 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 Block chains 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 block chain technology applications we can take advantage of.For instance, we can use Block chains for #1 Payments Using Block chain 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 Block chain 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, block chain is a great opportunity to cut down your expenses.#4.Digital I identity this system, it is much easier to track and monitor digital identities.And the best thing it does is identity authentication, where block chains 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 block chain platform, you'll spend 0.2 euros.And if you deal with such certificates, this block chain business idea will help you stay afloat.#6.Gifts and discounts Various loyalty programs help you engage customer sand show them your care.And, again, block chains can help us avoid different types of scams and create unique certificates which would be easy to verify.#7.IoT systemsIoT devices collect mega tonnes of data.
All this information needs to be processed and stored. Block chains 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.
Block chains 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 Block chain business opportunities and how many block chain 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.
No comments:
Post a Comment