How Blockchain-As-A-Service will transform business
Trading is done directly with your client on a decentralized platform. Yes, this is the reason why Blockchain is experiencing a rise in popularity in the business sector. However, this not all.
Let’s dig a little deeper into the matter!
If you are starting your business, or just planning to expand your business to the Blockchain mechanism, you are taking the right step towards full digitization. How?
That’s what you’re going to find out in the excerpt below!
In this excerpt below, we will talk about what Blockchain is and how Blockchain As-A-Service is transforming business. You can click here to understand more business companies using Blockchain.
What is the blockchain?
A blockchain is a series of connected computers that keep records of different financial transactions. One of the most well-known phenomena right now in the world using Blockchain is Bitcoin.
Every Bitcoin transaction that has ever been made is stored via the Blockchain, where each Block represents every transaction that has ever been made. So if Cryptocurrency can safely use the Blockchain mechanism, why not all other businesses?
Blockchain, in technical terms, is a digital ledger of transactions. This is where the same information is stored on all computers, and each piece of data will remain encrypted. In simple terms, it is hack-proof.
The information for each entry is stored in a distributed domain. Not like your regular centralized networks, which have the potential to be hacked. This is because it is not an intermediate party in any exchange of information. For example, if you are sending money to someone through a bank, the bank will have all of your information.
However, with Blockchain, when there is only one server, it becomes almost impossible to penetrate between two parties. That being said, it is not that Blockchain does not have records of cybercrime, but it is through phishing and scamming and not hacking into the Blockchain system. So, you just have to be careful.
How are companies transforming?
These are some of the ways we are seeing Blockchain transform businesses in many sectors.
1. Blockchain provides secure transactions
Blockchain stores all transactional details on multiple computers and this information cannot be tampered with. They are end-to-end encrypted. This makes Blockchain one of the most secure transaction methods.
In addition, you will be able to access all the transactional details of your business. This is why we strongly recommend that you allow Cryptocurrency as a payment method for businesses.
2. Blockchain stores all information seamlessly
Blockchain is not just a form of payment; it can also be used to store confidential information about your business. The best part of Blockchain is that it is never lost. Thus, you can access information about your business from past years.
Any information you store on the Blockchain is automatically encrypted. So, there is no way you will lose anything. It is there for life.
3. Blockchain does not allow unethical penetration
Unethical penetration is when cybercriminals try to penetrate the Blockchain, which has sensitive information, and alter or steal it. With an end-to-end encrypted Blockchain, anyone trying to break in will have to show proper proof of identification, which is then approved by the computer.
Without which entry access is denied.
4. Their supply chain game is top notch
Supply chain is always a complicated business. Whether we’re talking about sourcing raw materials, ordering for shipping, and everything in between, with Blockchain supporting your business, your supply chain game will be top notch.
With all the information stored in these digital boxes, you will have fewer coordination and organization problems.
5. Connect everyone
With some companies still choosing to work remotely, it is becoming difficult to share information digitally without the issue of security.
That is why you absolutely need Blockchain as there will be nothing that can be more secure than Blockchain. This is a great way to connect and share information with your employees and members of the executive level.
So if you are starting a business or entering the world of digital marketing, you should choose Blockchain as your next step.
This is the next digital revolution for your business that will help you expand your business beyond geographical borders.